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Governmental Accounting Standards Board (GASB)


The Governmental Accounting Standards Board (GASB) has published several statements pertaining to the financial accounting and reporting for Pension Benefits and Other Post-Employment Benefits (OPEBs). This group of Statements has undergone recent changes that significantly impact financial reporting requirements.

Statements 67, 68, or 73 apply for the financial reporting for Pension Benefits, and for OPEBs, Statements 74 and 75 apply. The application of all of these statements requires a valuation of the benefits by a qualified actuary.

Most governmental employers in Oregon receive the Statement 67 and 68 reporting information they need through their participation in Oregon PERS (OPERS). Employers with additional pension-type benefits provided outside of OPERS are also responsible for the financial reporting of those benefits.

Statements 73, 74 and 75 necessitate employers having a team of professionals, including an actuary, in place to address the financial reporting of OPEBs. Nearly every governmental employer in Oregon has OPEBs to value and report. Oregon Statute (ORS 243) requires that employers provide continuation of medical coverage to employees who retire with eligibility for OPERS benefits at the same premium rates as charged to participants on COBRA. Statements 74 and 75 say that the availability of this coverage (even if the premium is entirely retiree paid) is an OPEB that must be valued. For more information about OPEBs, visit our OPEB informational page.

Our Services

We are well situated to help employers with their GASB reporting needs. Our consultants can:

  • Help employers determine whether benefits they provide should be valued under Statements 67, 68, 73, 74 and 75,
  • Model benefit obligations and financial reporting disclosures under any of the Statements and provide advice on steps an employer can take to help mitigate the effect of the new reporting requirements,
  • Value pension and OPEB benefits, and prepare exhibits to be disclosed on an employer’s financial statements,
  • Provide consulting advice pertaining to the “pre-funding” of OPEBs through a qualified trust, and
  • Assist with plan re-design studies and provide support for bargaining with employee groups.


Contact one of our qualified GASB experts today for a free quote if your governmental agency provides benefits that require reporting under any of these GASB Statements, or to discuss whether or not you need to report under any of the GASB statements.