New accounting rules for public pension plans in the United States are set to take effect beginning in 2014. Successful implementation of the new rules will require an understanding of a variety of technical concepts regarding the various newly required calculations. In this multi-part PERiScope series, we will explore these technical topics in detail.

Part 1 - GASB 67/68: Beginning implementation and overview
An introduction of the technical concepts and an outline of important points for beginning implementation in 2014.

Part 2 - GASB 67/68: Relationship between valuation date, measurement date, and reporting date
This article explores the relationship between the actuarial valuation date, the measurement date, and the reporting date—critical dates that should be strategically determined in the early planning stages of implementation of GASB 67 and 68.

Part 3 - GASB 67/68: Depletion date projections
New accounting rules for public pension plans in the United States are set to take effect beginning in 2014. Successful implementation of the new rules will require an understanding of a variety of technical concepts regarding the various newly required calculations. This article explores the requirement to calculate a depletion date and how the depletion date impacts the plan’s total pension liability (TPL).

Part 4 - GASB 67/68: Long-term expected investment returns and the money-weighted rate of return
This article discusses the development of the long-term expected rate of return assumption and the selection of the municipal bond rate and how to calculate the money-weighted rate of return.

Part 5 - GASB 67/68: Calculation specifics on individual entry age normal and recognition of deferred inflows/outflows
An overview of the actuarial cost method specified in GASB 67/68 and how to amortize gains and losses in annual pension expense.

Part 6 - GASB 67/68: Substantively automatic plan provisions
Tips on how to determine if your ad hoc COLA is “substantively automatic.”

Part 7 - GASB 67/68: Pension expense, balance sheet items, and projections from valuation date to measurement date
New accounting standards change pension expense and balance sheet requirements.

Part 8 - GASB 67/68: Proportionate share allocation
An overview of the allocation of financial reporting liabilities for cost-sharing multiple employer plans.

Part 9 - GASB 67/68: Special Funding Situations
Successful implementation of new accounting rules for public pension plans requires an understanding of many technical concepts involving newly required calculations.