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GASB Overview

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The GASB standards are recognized as authoritative by state and local governments, state Boards of Accountancy, and the American Institute of CPAs (AICPA). The GASB develops and issues accounting standards through a transparent and inclusive process intended to promote financial reporting that provides useful information to taxpayers, public officials, investors, and others who use financial reports.

The 2022 GASB 67 and GASB 74, and 2022 GASB 68 and GASB 75 Actuary Reports for CERS, KERS, and SPRS are posted below. The GASB 68 and 75 tables include the June 30, 2022, Net Pension Liability, and Net Other Post-employment Benefits (OPEB) Liability so that employers can use the data for the calculation of their pension and OPEB expense. 

KPPA recommends that each employer review the GASB 68 and 75 Excel tables with its external auditor to ensure that it meets all the requirements of the statement, and to ensure that the required calculations have been performed correctly and accurately.

KPPA’s actuary, Gabriel Roeder Smith (GRS), calculated each employer’s proportionate share of the KERS and CERS plans' Net Pension Liability (NPL); Pension Expense (PE); Net OPEB Liability; and, OPEB Expense.

Note: Some users have reported problems opening GASB Excel files using Microsoft Edge. It's best to use another browser, such as Chrome or Firefox.



In order for practitioners to implement the GASB 68 and 75 reporting, they will need the split of employer contributions between the Pension and Insurance components. Those splits are listed below.

Fiscal Year 2023 Pension and Insurance Components for GASB Reporting
Fiscal Year 2022 Pension and Insurance Components for GASB Reporting

​*For KERS, the total contribution rate includes the normal cost contribution rate reflected in the "Total" column, which was set by the General Assembly in House Bill 1 in 2022, plus a monthly amount as defined by the actuary for the unfunded liability. The same bill also set the contribution rates for KERSH and SPRS.

​**House Bill 192 in 2021 set the normal cost contribution rate for KERS and the contribution rates for KERSH and SPRS.

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