GASB 45 and other post-employment benefit promises: the fog is clearing
New England Public Policy Center Policy Brief, 2007
It is often said that you won’t get rich working for the government, but you can’t beat the benefits. One form of these benefits is “Other Post-Employment Benefits"(OPEB), which represent government promises to employees to provide health care and other non-pension benefits after retirement. Government employers commonly use these benefits to attract talent in lieu of large salaries or bonuses and to provide future security to employees. Until now, governments have also been able to apply preferential accounting treatment to OPEB plans, which allowed deferral of the costs of today’s promises into the future. However, due to a standard issued by the Governmental Accounting Standards Board (GASB) in June 2004, this is about to change.
Keywords: Accounting - Standards; Government employees; Employee fringe benefits (search for similar items in EconPapers)
References: Add references at CitEc
Citations: Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:fip:fedbbr:y:2007:n:07-7
Ordering information: This journal article can be ordered from
Access Statistics for this article
More articles in New England Public Policy Center Policy Brief from Federal Reserve Bank of Boston Contact information at EDIRC.
Bibliographic data for series maintained by Catherine Spozio ().