Status of Statement No. 43

Summaries / Status

Status of Statement No. 43
Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans


Status

Issued: April 2004 

Effective Date:

    The requirements of this Statement for OPEB plan reporting are effective one year prior to the effective date of the related Statement for the employer (single-employer plan) or for the largest participating employer in the plan (multiple-employer plan). The requirements of the related Statement are effective in three phases based on a government's total annual revenues in the first fiscal year ending after June 15, 1999:

    • Plans in which the sole or largest employer is a phase 1 government—with annual revenues of $100 million or more—are required to implement this Statement in financial statements for periods beginning after December 15, 2005.
       
    • Plans in which the sole or largest employer is a phase 2 government—with total annual revenues of $10 million or more but less than $100 million—are required to implement this Statement in financial statements for periods beginning after December 15, 2006.
       
    • Plans in which the sole or largest employer is a phase 3 government—with total annual revenues of less than $10 million—are required to implement this Statement in financial statements for periods beginning after December 15, 2007.

    If comparative financial statements are presented, restatement of prior-period financial statements is required. Early implementation is encouraged.

Affects:

  • Amends NCGAI 6, ¶5
  • Amends GASBS 14, ¶81
  • Supersedes GASBS 25, fn3
  • Amends GASBS 25, ¶4, ¶20, ¶26, ¶42, ¶44, fn5, and fn16
  • Supersedes GASBS 26
  • Amends GASBS 27, ¶2
  • Supersedes GASBS 27, fn18
  • Amends GASBS 31, ¶4
  • Amends GASBS 34, ¶106–¶109, ¶140, ¶141, fn43, fn44, fn63, and fn64

Affected by:

  • Paragraph 1 amended by GASBS 63, ¶8 and ¶12
  • Paragraph 4 amended by GASBS 63, ¶7, ¶8, and ¶12
  • Paragraph 5 amended by GASBS 63, ¶8
  • Paragraph 8 amended by GASBS 63, ¶8
  • Paragraph 9 amended by GASBS 47, ¶3 and ¶8
  • Paragraph 17 amended by GASBS 63, ¶7, ¶8, and ¶12
  • Paragraph 18 amended by GASBS 63, ¶8
  • Paragraph 22 amended by GASBS 53, ¶20 and ¶67, and GASBS 59, ¶4
  • Footnote 11 superseded by GASBS 54, ¶5–¶27
  • Paragraph 25 amended by GASBS 63, ¶7, ¶8, and ¶12
  • Paragraph 26 amended by GASBS 63, ¶8
  • Paragraph 27 amended by GASBS 63, ¶8
  • Paragraph 28 amended by GASBS 63, ¶8
  • Paragraph 30 amended by GASBS 63, ¶8
  • Paragraph 33 amended by GASBS 57, ¶7, and ¶8
  • Paragraph 36 amended by GASBS 63, ¶8
  • Paragraph 41 amended by GASBS 63, ¶8
  • Paragraph 46 amended by GASBS 47, ¶3; GASBS 57, ¶3; GASBS 59, ¶4; and GASBS 63, ¶7, ¶8, and ¶12

Other Interpretive Literature:

  • GASBTB 2006-1 (Provides guidance on ¶27)
  • GASBQ&A 43/45
  • GASB Comprehensive Implementation Guide

Primary Codification Section References: Pe5, Pe6, Po50
 


Abbreviations for Accounting Pronouncements

GASBS - GASB Statements
GASBCS - GASB Concepts
GASBI - GASB Interpretations
GASBTB - GASB Technical Bulletins
BFC - Basis For Conclusions
NCGAS - NCGA Statements
NCGAI - NCGA Interpretations
SOP - AICPA Statements of Position
ASLGU - AICPA Audit Guide
GASB Q&A - GASB Implementation Guides