GASB’s New Pension Standards The changes brought about by Statements No. 67 and 68 are substantial and complex, involving comprehensive disclosures and time-sensitive, subjective computations. With new standards come new risks to material financial reporting misstatements. Efforts to mitigate those risks generally translate into significant advance planning for financial statement preparers.

Governments should assess their existing resources, policies and procedures and the impact on their compliance requirements. If you have additional questions regarding governmental pension accounting issues, contact your BKD advisor. Contributor Connie Spinelli Director 303.861.4545 cspinelli@bkd.com 17 .