How are the New Accounting Standards for State and Government Pensions Going to Affect Me?

In June 2012, Governmental Accounting Standards Board (GASB) issued 2 new standards (GASB67 and 68) dealing with financial statement reporting of State and local government pensions.  These standards change how State and local governments report the costs and obligations associated with defined benefit pension plans.  Governments will be implementing changes as early as June 30, …

Keep Reading

Defined-Benefit Plans – Recent Report of Deficits

Lately I’ve run across several articles in the news that give a gloomy outlook for pension plans, including the State of Arizona’s Public-Pensions.  According to a recent report in the Arizona Republic, tightening budgets and poor investment performance have some wondering if the funds can continue to meet their obligations to retirees.  Citing a new …

Keep Reading