08-12-2013 |
Difference between pension amounts for Books (accounting), Bonds, and Budgets (cash contributions) plus a Guide to Pension Funding for Elected Officials from the Pension Funding Task Force.
Recent changes mean there will soon be three separate calculations of pension liabilities: for financial accounting, contribution rates, and by credit rating analysts. This one-page summary from the Pension Funding Task Force outlines the separate numbers for "Books, Bonds, and Budgets." Books, Bonds, and Budgets Unlike GASB 27, the new GASB Statement 68 does not specify an "annual required contribution." Plan sponsors - trustees and public officials - will need to set appropriate contribution rates. The Task Force released "Pension Funding: A Guide for Elected Officials" which gives background on pension funding and a discussion of policy objectives to be considered in setting funding policy. Pension Funding: A Guide for Elected Officials
The Pension Funding Task Force has representatives from: National Governors Association National Conference of State Legislatures The Council of State Governments National Association of Counties National League of Cities The U.S. Conference of Mayors International City/County Management Association Center for State and Local Government Excellence National Association of State Auditors, Comptrollers and Treasurers Government Finance Officers Association National Association of State Retirement Administrators National Council on Teacher Retirement
©
2021 Bartel Associates, LLC