Summary of Statement No. 12

Statement No. 12
Disclosure of Information on Postemployment Benefits Other Than Pension Benefits by State and Local Governmental Employers
(Issued 5/90)


This Statement requires these disclosures to be made by all state and local governmental employers that provide postemployment benefits other than pension benefits: (a) a description of the benefits provided, employee groups covered, and the employer and participant obligations to contribute; (b) a description of the statutory, contractual, or other authority under which benefit provisions and obligations to contribute are established; (c) a description of the accounting and financing or funding policies followed for those benefits; and (d) the expenditures/expenses for those benefits recognized for the period and certain related data.

Except for these disclosures, until the GASB has completed its project on recognition and measurement of postemployment benefits other than pension benefits, state and local governmental employers are not required to change their accounting and financial reporting of those benefits.

Unless otherwise specified, pronouncements of the GASB apply to financial reports of all state and local governmental entities, including public benefit corporations and authorities, public employee retirement systems, and governmental utilities, hospitals, colleges, and universities. Paragraph 9 discusses the applicability of this Statement.