What does GASB 45 require employers to disclose on their financial statements?
The disclosures fall into three basic categories: • Information about OPEBs: what they are, who receives them, how many employees and retirees are covered, and a discussion of the future uncertainties associated with those benefits. • The OPEB liability and the qualifying plan assets (if any) that are irrevocably dedicated to offset the liability, including the basis for determining the liabilities (actuarial methods and assumptions). • The portion of the OPEB liability that must be reported as an annual accounting expense on the employers financial statements, and a cumulative accounting of the extent to which the employer actually makes contributions to offset its annual expense.
