On December 19, 2017, the Governmental Accounting Standards Board (GASB) issued Implementation Guide No. 2017-3 for other postemployment benefit (OPEB) plans, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting).

The guide is presented in a “question and answer” format and is intended to clarify, explain or elaborate on the requirements of GASB Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions. The guide also addresses a limited number of issues related to GASB Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans.

The questions and answers address Category B authoritative guidance under generally accepted accounting principles (GAAP).  The guide also provides several appendices, including: 1) background information; 2) illustrative material related to GASB Statement No. 75 regarding certain calculations, note disclosures, and other information; and 3) codification instructions.  The guide provides detailed answers on various topics, including but not limited to:

  • Scope and applicability of the guidance;
  • Considerations regarding the identification of special funding situations;
  • Measurement of defined benefit OPEB liabilities of employers and nonemployer contributing entities;
  • OPEB expense and deferred inflows and outflows of resources related to OPEB;
  • Note disclosures and required supplementary information; and
  • Transition to the new standards.

The guide is available on the GASB’s web site.