GASB 45 has already placed requirements on large government entities. Now smaller public employers face their own deadlines. GASB 45 poses a particular challenge to these entities because of the cost of valuing the liability and the potential size of the liability relative to their overall budget. This article outlines a sensible approach for these smaller public employers.

Reproduced with permission from the Benefits & Compensation Digest Volume 45 Number 9, September, 2008, Pages 22-27 published by the International Foundation of Employee Benefit Plans (www.ifebp.org), Brookfield, Wis. All rights reserved. Statements or opinions expressed in this article are those of the author and do not necessarily represent the views or positions of the International Foundation, its officers, directors or staff. No further transmission or electronic distribution of this material is permitted.