GASB issued an implementation guide Tuesday that provides questions and answers about the new state and local government accounting standard for other postemployment benefits (OPEB).
The standard addresses accounting for nonpension postemployee benefits, which primarily consist of retiree health care. Implementation Guide No. 2017-3, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (and Certain Issues Related to OPEB Plan Reporting), provides implementation guidance for GASB Statement No. 75 and addresses some issues related to GASB Statement No. 74.
Questions and answers contained in GASB implementation guides constitute Category B authoritative guidance under GAAP.
—Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is a JofA editorial director.