GASB Making Progress in Defined Benefit Pension Exposure Drafts

March 2011
Governmental GAAP Update Service;3/15/2011, Vol. 11 Issue 5, p1
Trade Publication
The article discusses the tentative decisions of the Governmental Accounting Standards Board (GASB) on the revision of its benefit pension exposure draft (ED). It says that actuarial assumptions should be based on the Actuarial Standards of Practice while other insurance contracts may be removed from plan assets. It tells that pension liability is composed of total pension liability reduced by net assets. It mentions the inclusion of fair value identification to accounting policies summary.


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