GASB Information

In June 2012, the Governmental Accounting Standards Board (GASB) established significant pension reporting changes that effect all of our participating employer groups. The intent of the standards is to enhance the pension-related information in financial reports.  The new standards are contained in GASB Statement 68, which require new accounting and reporting standards for state and local government employers participating in public pension plans. This standard replaces GASB 27 as the reporting standard for employers and it also requires employers to recognize their proportionate share of the net pension liability (as defined in GASB 67) in their financial statements.

Employers will be required to disclose their proportionate share of pension liabilities or assets, deferred inflows and outflows of resources, and pension expense. Employers will also need to provide a description of the pension plans along with additional information about each of the pension-related amounts shown in their financial statements.

GASB 68 Reports (Report Date 6/30/16; Measurement Date 6/30/15)

PSPRS  

2015 PS GASB 68 Report

2015 PS Exam Report on Census Data

CORP

2015 CORP GASB 68 Report

2015 CORP AOC GASB 68 Report

2015 CORP Exam Report on Census Data

EORP

2015 EORP GASB 68 Report

GASB Reports by Individual Employer (PSPRS & CORP)

GASB Reports by Individual Employer 

Auditor General Pension Reporting Guidance

The Auditor General recommends that PSPRS and CORP employers consider making adjustments to pension amounts reported in their financial statements, note disclosures and required supplementary information.  Those recommendations, along with sample journal entries and examples are available on their webiste, www.azauditor.gov/reporting-guidelines-0.
 

Funding Policy

PSPRS Funding Policy