The Governmental Accounting Standards Board gave public pension systems new accounting and financial reporting rules that start taking effect this year.
Now the Norwalk, Conn.-based organization is offering plan executive some help — in the form of an online tool kit — to figure out how to implement those rules.
Some of the biggest changes in the new standards include more prominent reporting of net unfunded liabilities and requiring more accounting information from contributing employers within larger systems.
The free online tool kit, which is is aimed at preparers, auditors and users of state and local government financial reports, includes videos, podcasts, frequently asked questions, full texts of the new standards and an executive summary. It is available at www.gasb.org.
