GASB Definition of Employer Compensation
It appears to be news to many NCTR members that for purposes of implementing GASB 67 and 68, the measure of payroll that is required to be included in the schedules and notes (covered-employee payroll) is the gross payroll of the employees that are provided with pensions through the plan, and includes pensionable as well as non-pensionable pay. However, this amount is typically not provided to retirement systems, and to obtain it could present difficult issues for both plans and their employers. With GASB 68 implementation looming―which will already present serious challenges―does this news create new problems for plans and their sponsors? To learn more about the issue and how to deal with its implications, be sure to register for NCTR’s upcoming webinar on this topic on Thursday, April 30, 2015, from 3:00 pm to 4:00 pm ET.
Leigh Snell, NCTR’s Director of Federal Relations, will be joined by several experts on the subject, including:
- Michelle Czerkawski with the Governmental Accounting Standards Board (GASB);
- Jim Rizzo with the actuarial firm of Gabriel, Roeder, Smith & Company; and
- Gerry Boaz with the Tennessee Division of State Audit.
How does this news affect pension plans’ compliance with GASB 67? How might it impact your efforts to help employers comply with GASB 68? Is this a molehill―or a mountain? You will not want to miss this important NCTR members-only webinar.