Governmental Accounting Standards Board (GASB) Statements 43 and 45

The ongoing implementation of GASB Statements 43 and 45, which began as early as 2006 for some employers, has proven to be an exciting new segment of business for us at IAI. We provide GASB 43 and 45 valuation and consulting services to numerous public sector clients, including service districts, school districts, cities and counties in Oregon, Washington and California.

These statements bring a radical shift in the way Other (than pension) Post-Employment Benefits (OPEBs) are accounted for by public employers: basically, a change from "pay-as-you-go" accounting to "accrual" accounting. Typically, complying with the statements will entail retaining a certified actuary to perform periodic valuations of your OPEBs, and that’s where IAI can help. We have extensive experience providing these services and have earned a reputation for providing thorough, responsive and cost-effective consulting.

We can also help you react to these new statements, by consulting with you regarding funding your OPEB plan or by helping you to re-design the plan, so it continues to fit your company’s human resource and financial goals.

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