Brian McAllister

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Brian McAllister

Mc Allister, B. P., Spinelli, C., Belger, D.

Getting familiar with OPEB

Here’s how GASB’s standards for other post-employment benefits compare with previous standards.


In June 2015, GASB issued Statement No. 74, Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans, and Statement No. 75, Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions-three years after issuing new pension standards.

GASB defines other post-employment benefits (OPEB) as benefits other than pensions that state and local governments provide their retired employees. These benefits principally involve retiree health care benefits, but they also can include life insurance, legal, disability, and other services. GASB undertook the project to change accounting for OPEB in an effort to increase the transparency about the liabilities related to these benefits that are significant for many governments