Project Pages

Implementation Guide for Statement 75 on Other Postemployment Benefits

Project Description: The objective of this project is to publish guidance to assist other postemployment benefit (OPEB) employers and governmental nonemployer contributing entities address implementation issues associated with Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, as amended. This project will result in the issuance of an Implementation Guide focused on implementation issues related to employer-specific requirements. That Implementation Guide also will contain limited questions and answers to address issues related to measurement of the total OPEB liability by single-employer and cost-sharing multiple-employer OPEB plans that were identified subsequent to the issuance of Implementation Guide 2017-2, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans.

Status:
Exposure Draft cleared: June 2017
Added to Current Agenda: September 2015

Implementation Guide for Statement 75 on Other Postemployment Benefits—PROJECT PLAN


Background
: Statement 75 was approved in June 2015 and is effective for fiscal years beginning after June 15, 2017. The need for implementation guidance is indicated by the complexity of the OPEB standards, generally.

Accounting and Financial Reporting Issues: Statement 75 was approved in June 2015. Statement 75 is effective for fiscal years beginning after June 15, 2017. The need for implementation guidance is indicated by the complexity of the OPEB standards, generally. Although certain implementation guidance issued related to Statement No. 68, Accounting and Financial Reporting for Pensions, applies equally to Statement 75, other issues specific to OPEB warrant additional implementation guidance.

Project History:
  • Added to current technical agenda: September 2015
  • Consultative group appointed? Yes
  • Exposure Draft issued: June 2017
  • Comment period: July–September 2017
Current Developments: An Exposure Draft of Implementation Guide No. 201X-Z, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting), was cleared for issuance in June 2017. The comment period ends September 25, 2017.

Work Plan: The plan for the pre-agenda research includes the following activities:
 

Board meetings

Topics to be considered

September 2017: Comment period continues.
October 2017:
Redeliberate issues based on respondent feedback and review a preballot draft of a final Employer Implementation Guide.
September–October 2017: Develop, pretest, and administer preparer survey instrument.
November 2017 (T/C): Review a ballot draft and consider a final Employer Implementation Guide for clearance.

Implementation Guide for Statement 75 on Other Postemployment Benefits—RECENT MINUTES


Minutes of Meetings, June 28–29, 2017

The Board reviewed a ballot draft of a proposed Exposure Draft of Implementation Guide No. 201X-Z, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting), and considered clarifying edits. After discussing those proposals, the Board did not object to the issuance of the Exposure Draft of the Implementation Guide.

Minutes of Meetings, May 23–25, 2017

The Board reviewed a preballot draft of the proposed Exposure Draft of Implementation Guide No. 201X-Z, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions, and provided suggestions for clarifying edits to questions and answers in the draft document. The Board did not object to moving forward with a ballot draft of the proposed Exposure Draft of the Implementation Guide.