GASB Information

GASB Information

Governmental Accounting Standards Board (GASB) set standards for pension accounting.

  • Statement 67 defines the actuarial approach for the Plan to measure total employer pension liability.
  • Statement 68 outlines employer requirements, recognizing a portion of the fund’s net pension liability on the balance sheet. Plans and employers use the same assumptions to measure and report similar or related information.

 

NMERB administers the cost sharing multi-employer Plan, and

  • engages an actuary to calculate GASB 67 total pension liability,
  • provides audited Schedule of Employer Allocations and Pension Amounts including NPL, expense, and deferrals on employer by employer basis, with appropriate, reliable & verifiable disclosure information.

 
Employers implement GASB 68 by

  • establishing the new reporting process and controls,
  • reporting amounts on the face of their financials,
  • including appropriate and reliable information in financial statement notes,
  • evaluate and handle their individual facts and circumstances.

 
See also the Employer section of this website for additional GASB information and the Actuarial Reports section of this website for annual GASB 67 & 68 actuarial reports.

GASB 68 Implementation
Guide for Employers

Title

Format

2024 GASB 68 Implementation Guide for Employers PDF
2023 GASB 68 Implementation Guide for Employers PDF
2022 GASB 68 Implementation Guide for Employers PDF
2021 GASB 68 Implementation Guide for Employers PDF
2020 GASB 68 Implementation Guide for Employers PDF
2019 GASB 68 Implementation Guide for Employers PDF
2018 GASB 68 Implementation Guide for Employers PDF
2017 GASB 68 Implementation Guide for Employers PDF

GASB 68 Journal Entry Tool for Employers

Title

Format

2024 GASB 68 Journal Entry Tool for Employers XLXS
2023 GASB 68 Journal Entry Tool for Employers XLXS
2022 GASB 68 Journal Entry Tool for Employers XLXS
2021 GASB 68 Journal Entry Tool for Employers XLXS
2020 GASB 68 Journal Entry Tool for Employers XLXS
2019 GASB 68 Journal Entry Tool for Employers XLXS
2018 GASB 68 Journal Entry Tool for Employers XLXS
2017 GASB 68 Journal Entry Tool for Employers XLXS

GASB 68 Employer Allocation Reports

Title

Format

2023 GASB 68 Employer Allocation Reports PDF
2022 GASB 68 Employer Allocation Reports PDF
2021 GASB 68 Employer Allocation Reports PDF
2020 GASB 68 Employer Allocation Reports PDF
2019 GASB 68 Employer Allocation Reports PDF
2018 GASB 68 Employer Allocation Reports PDF
2017 GASB 68 Employer Allocation Report PDF
2016 GASB 68 Employer Allocation Report PDF
2015 GASB 68 Employer Allocation Report – Restated PDF
2014 GASB 68 Employer Allocation Report – Restated PDF

Resources

Websites

The Public Pension Financial Forum (P2F2)

P2F2 has a wide variety of resources on its website.

This free toolkit on the GASB website

The toolkit contains GASB 68 and 71 statements, a GASB 68 Implementation Guide, and other information to assist employers with implementation of the new pension standards.

The American Institute of CPAs

The institute provides audit information related to the new pension standards.

Instruction/Training

GASB 68 Presentation for Employers

A NMERB video presentation on the reasons for GASB 68, key terms, and how to explain GASB 68 to stakeholders.
Length: 25:04 minutes. CC available.

NMERB Employer Primer - GASB 68 Implementation

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