Update: New Public Pension Accounting Rules Set to Go into Effect for Governmental Employers

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For employer fiscal years beginning after June 15, 2014, the new public pension accounting rules, issued in June 2012 by the Government Accounting Standards Board (GASB), will go into effect. It is important for pension plans and governmental employers that have not yet begun the process to become acquainted with the new standards and to initiate discussions that address key implementation issues.

Any accounting, business, or tax advice contained in this communication, including attachments and enclosures, is not intended as a thorough analysis of specific issues, nor a substitute for a formal opinion, nor was it written to be used to avoid tax related penalties.