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Accounting for Pensions and Other Postemployment Benefits - September 10, 2013

Group-live course

Prerequisites: None
Course level: Advanced

CPE credits: 8
Time: 1 day, 9:00 am – 5:00 pm 

 

Registration form
Register online

 

Who Will Benefit
Finance professionals involved, either directly or indirectly, with accounting and financial reporting for a  pension plan or an other postemployment benefit (OPEB) plan, or for a governmental employer that provides such benefits.

Program
The seminar is designed to equip participants with a solid working knowledge of accounting and financial reporting for both pensions and OPEB (i.e., postemployment benefits) It also offers practical guidance on how to prepare a comprehensive annual financial report (CAFR) for a public employee retirement system (PERS).

Advance Preparation
None

Seminar Objectives
Those who successfully complete the seminar should be able to:

  • Define the key accounting and actuarial terms used in connection with postemployment benefits
  • Determine the appropriate measure of cost for employers offering postemployment benefits under a variety of arrangements
  • Distinguish actuarial liabilities from accounting liabilities
  • Identify each of the acceptable actuarial cost allocation methods
  • Identify the essential required disclosures for employers that offer postemployment benefits
  • Identify the essntial components of each of the five major sections of a PERS CAFR (i.e., introductory, financial, actuarial, investment, and statistical).
  • Identify the essential components of schedules of required supplementary information
  • Determine the appropriate measure of cost for termination benefits


Recommended Reading
An Elected Official’s Guide: Employer’s Accounting for Pensions and Other Post-employment Benefits (OPEB)
An Elected Official's Guide to Public Retirement Plans
2005 Governmental Accounting, Auditing, and Financial Reporting
(Chapter 15, “States and Certain Special-purpose Governments,” pages 332-351)

Registration Fees
GFOA member:  $370     Nonmember:  $550