The General Accountability Standards Board (GASB) recently issued new standards that govern the disclosure of post-employment benefits in financial statements. Specifically, new GASB standards require state and municipal government entities to disclose the costs of these post-employment benefits, such as retiree health insurance benefits, in the financial statements rather than in the footnotes to those statements. The rule is aimed at enhancing disclosure of the growing unfunded liability of these types of post-employment benefits.
