Implementation
Effective Date
GASB75 is effective for fiscal years beginning after June 15, 2017. Earlier application is encouraged.
Subsequent GASB 75 valuations
An actuarial valuation or a calculation using the specified alternative measurement method of the total OPEB liability is required to be performed at least every two years, with more frequent valuations or calculations encouraged. If an actuarial valuation or a calculation using the alternative measurement method is not performed as of the measurement date, the total OPEB liability is required to be based on update procedures to roll forward amounts from an earlier actuarial valuation or alternative measurement method calculation (performed as of a date no more than 30 monts and 1 day prior to the employer's most recent fiscal year-end).
