Status of Statement No. 50

Summaries / Status

Status of Statement No. 50
Pension Disclosures—an amendment of GASB Statements No. 25 and No. 27


Status

Issued: May 2007

Effective Date:
  • For periods beginning after June 15, 2007, except for requirements related to the use of the entry age actuarial cost method for the purpose of reporting surrogate funded status and funding progress information for plans that use the aggregate actuarial cost method, which are effective for periods for which the financial statements and required supplementary information contain information resulting from actuarial valuations as of June 15, 2007, or later.
Affects:
  • Supersedes GASBS 25, fn17 and fn18
  • Amends GASBS 25, ¶27, ¶32, ¶36, ¶37, ¶40, ¶41, and fn24
  • Amends GASBS 27, ¶20–¶22, fn10, and fn17
Affected by:
  • Paragraphs 1 and 2 superseded by GASBS 74, ¶60
  • Paragraph 3 amended by GASBS 67, ¶3 and ¶5; GASBS 68, ¶4–¶6; and GASBS 73, ¶115 and ¶116; superseded by GASBS 74, ¶60
  • Paragraph 4 amended by GASBS 72, ¶80–¶82; superseded by GASBS 73, ¶115 and ¶116
  • Footnotes 1 and 2 superseded by GASBS 73, ¶115 and ¶116
  • Paragraph 5 superseded by GASBS 74, ¶60
  • Paragraph 6 superseded by GASBS 73, ¶115 and ¶116
  • Paragraphs 7–9 and fn3–fn7 superseded by GASBS 73, ¶3–¶57
  • Paragraph 10 superseded by GASBS 73, ¶115 and ¶116
  • Paragraphs 11–13 superseded by GASBS 74, ¶60  
 Primary Codification Section References: None
 

Abbreviations for Accounting Pronouncements

GASBS - GASB Statements
GASBCS - GASB Concepts
GASBI - GASB Interpretations
GASBTB - GASB Technical Bulletins
GASBIG - GASB Implementation Guides
NCGAS - NCGA Statements
NCGAI - NCGA Interpretations
AICPA SOP - AICPA Statements of Position
AICPA ASLGU - AICPA Audit Guide (1974)
BFC - Basis For Conclusions