Other Post-Employment Benefits (OPEB)

Other Post-Employment Benefits (OPEB)

In June 2015, the Governmental Accounting Standards Board (GASB) issued two new standards for the accounting and financial reporting by state and local governments for postemployment benefits other than pensions.​

  • Statement No. 74 – Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans – Effective for fiscal years ending June 30, 2017 and after.  This is the financial reporting requirements for OPEB plans administered through qualifying trusts.  It replaces GASB statement 43 and is similar to GASB statement 67 for pension plans.
  • Statement No. 75 – Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions – Effective for fiscal years ending June 30, 2018 and after.  This is the accounting and reporting requirements for employers who provide OPEB benefits.  It replaces GASB 45 and is similar to GASB statement 68 for employers. 

These new standards will make OPEB accounting and reporting consistent with pensions.

See the links on the bottom of this page for more information regarding these new standards.  Additional information and resources will be provided as they become available.

To assist local governments in understanding and implementing the new standards, SAO has compiled a list of frequently asked questions.  If you have further questions, please contact the SAO Help Desk.

See the draft notes to the financial statements for both cash-basis and GAAP.  We have GAAP versions for plans administered through a qualifying trust and for those not administered through a qualifying trust.  Please contact Debra.Burleson@sao.wa.gov with comments and questions.

Here are some additional links for OPEB resources:


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