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.
All but 17 public safety employers are part of the Public Safety Tier 3 Risk Pool, which is a separate cost-sharing plan for Tier 3 members that is a new plan for Report Date from 6/30/17 and after.
GASB Reports (Report Date 6/30/20; Measurement Date 6/30/19)
2019 PS GASB 68 and 75 Reports
2019 PS Risk Pool GASB 68 and 75 Reports
2019 PS Census Data Exam Report
2019 CORP GASB 68 and 75 Reports
2019 CORP Census Data Exam Report
2019 CORP AOC GASB 68 and 75 Reports
2019 EORP GASB 68 and 75 Reports
GASB Reports (Report Date 6/30/19; Measurement Date 6/30/18)
2018 PS GASB 68 and 75 Reports
2018 PS Risk Pool GASB 68 and 75 Reports
2018 PS Census Data Exam Report
2018 CORP GASB 68 and 75 Reports
2018 CORP Census Data Exam Report
2018 CORP AOC GASB 68 and 75 Reports
2018 EORP GASB 68 and 75 Reports
GASB Reports (Report Date 6/30/18; Measurement Date 6/30/17)
2017 PS GASB 75 Report
2017 PS Census Data Exam Report
2017 CORP GASB 68 Report
2017 CORP GASB 75 Report
2017 CORP Census Data Exam Report
2017 CORP AOC GASB 68 Report
2017 CORP AOC GASB 75 Report
2017 EORP GASB 68 Report
2017 EORP GASB 75 Report
GASB 68 Reports (Report Date 6/30/17; Measurement Date 6/30/16)
2016 PS Exam Report on Census Data
2016 CORP Exam Report on Census Data
GASB Reports by Individual Employer (PSPRS & CORP)
GASB Reports by Individual Employer (All years)
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.
