GASB 45 Strategy
Public employers will need to establish liabilities on their balance sheets equal to any of the recognized expenses that have not been funded. They will also need to develop a strategy for managing this expense and liability within the confines of union demands, employee expectations and annual budgets.
SMART's actuarial consulting services can value OPEB liabilities, provide assistance to interpret and understand the results, and help public employers plan for the future. In addition to providing the GASB 45 actuarial valuation, we assist organizations in assessing the GASB 45 exposure, identify and implement alternative ways to restructure and finance benefits, understand potential demographic issues, support collective bargaining and redesign benefit plans.