In June 2012, the Governmental Accounting Standards Board (GASB) issued GASB Statement No. 68, Accounting and Reporting for Pensions.
It applies to units of government for fiscal years beginning after June 15, 2014.
Sample GASB 68 for your review
IMRF has developed a preliminary approach for reporting the information your employer will need to meet future GASB 68 requirements. Please review this sample document to begin familiarizing yourself with how IMRF will report the information your employer needs to comply with GASB 68.
Sample GASB 68 specific to your employer
Next week, IMRF will provide (via Employer Access) another sample document: a preliminary GASB 68 that will include your employer's specific Net Pension Liability using fiscal year 2012 data. IMRF will alert you via an Employer Access Secure Message when this sample document is available. This document is for informational purposes only. Don't use it in your financial statements.
If you have any questions, please contact Employer Relations Supervisor Audrey Brown-Ryce at [email protected] or at (630) 706-4246, or Employer Account Analyst Corey Lockwood at [email protected] or at (630) 706-4226.