GASB 45 requires public sector organizations to conduct actuarial valuations on the health, dental, prescription and/or long-term care benefits you provide retirees or their beneficiaries.
In order to quantify other post employment benefits liabilities, Key Benefit Concepts evaluates benefits assumptions, using an unbiased approach that complies with the Governmental Accounting Standards Board guidelines. The result is a clear picture of the annual required contributions and net OPEB obligation for your district or municipality.
With this information, your school district or government agency can then comply with GASB reporting requirements by including the annual required contribution and net OPEB obligation on your financial statement. (The net OPEB obligation is the actuarial calculation of benefits offered less contributions to a qualified trust.)
The Wisconsin OPEB Trust provide an experienced actuarial team to assist your school district, city, town, county or state agency in completing OPEB valuations for reporting purposes.
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