Document Type

Article

Publication Date

Fall 2012

Publication Title

Journal of Public Budgeting, Accounting & Financial Management

Volume

24

Issue

3

Pages

369-396

Abstract

GASB Statement No. 45 addresses how governmental units account for employees' other post-employment benefits (OPEB), requiring government employers to replace OPEB reporting on a pay-as-you-go basis with an accounting of the cost of current and future benefits. This requirement and the resulting OPEB liability may prompt government employers to reconsider key questions regarding their OPEB provision. The size of the OPEB liability depends on both the benefit promises made to employees and the assets to fund these promises. We propose a typology that defines four approaches for governments to respond to GASB 45 and their OPEB liabilities. These approaches represent different combinations of strategies involving OPEB promises and assets. We illustrate these strategies and responses using selected counties and nine mid-Atlantic cities. [ABSTRACT FROM AUTHOR]

Comments

Available with permission from PR Academic Press.

Original Publication Citation

Yusuf, J.E., & Musumeci, T. (2012). Changing and/or funding OPEB promises: A typology of local government responses to GASB 45 and the realization of OPEB liabilities. Journal of Public Budgeting, Accounting & Financial Management, 24(3), 369-396.

ORCID

0000-0003-3599-1417 (Yusuf)

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