CHAPTER 17
POSTEMPLOYMENT BENEFITS—PENSION AND OTHER
Introduction
Scope and Applicability
Financial Reporting for OPEB by Employers
Termination Benefits
Requirements for Defined Benefit Pension and OPEB Plans
Measurement of Annual Pension Cost and Its Recognition by the Employer
Single-employer or agent multiemployer plans
Cost-sharing multiemployer plans
New Rules for Agent Employers and Agent Multiple-Employer Plans
Effective Date
Measuring Annual Pension Cost—Single-Employer and Agent Plans
Defined Benefit OPEB Plans—Single Employer and Agent Multiemployer Plans
Calculation of the ARC
Parameters for Actuarial Calculations, Including the ARC
Benefits to Be Included
Actuarial Assumptions
Economic Assumptions
Actuarial Cost Method
Actuarial Value of Assets
Employer’s Annual Required Contribution—ARC
Normal cost
Amortization of the total unfunded actuarial accrued liability
Contribution Deficiencies and Excess Contributions
Net Pension Obligation
Liability (or Asset) at the Transition to GASBS 27
Net OPEB Obligation
Annual OPEB Cost
Insured Benefits
OPEB Liabilities (Assets) at Transition for Defined Benefit OPEB Plans
Sole and agent employers
Cost-sharing employers
Recording Pension-Related Assets, Liabilities, and Expenditures/Expenses
Governmental Funds
Proprietary Funds and Other Entities That Apply Proprietary Fund Accounting
Employers with Multiple Plans and Multiple Funds
Cost-Sharing Multiemployer Plans
Recognition of OPEB Expenses/Expenditures, Liabilities and Assets
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