GASB 75 Other Post-Employment Benefits (OPEB) Valuation

ISFIS partners with Van Iwaarden Associates, a leading OPEB actuarial firm, to offer our GASB 75 Compliance Service.  We are confident our complete valuation service is less expensive and easier to use than other providers, and for small districts, we offer a low-cost best-in-class AMM (Alternative Measurement Method) Tool.  To ensure timely completion of the GASB 75 requirements, sign up today by contacting us at

What is GASB 75?

The Governmental Accounting Standards Board (GASB) issued Statement 45 in June 2004.  GASB 45 was a financial reporting provision requiring government employers to measure and report liabilities associated with post-employment benefits other than pensions.  GASB Statement 75 largely replaced GASB 45 for the FY2018 year.  This measurement is referred to as an actuarial “valuation.”  Other Post Employment Benefits (OPEB) may include retiree medical, drug, dental, vision, life, long-term disability, and long-term care benefits that are not associated with a pension.  Government employers required to comply with GASB 75 include public schools, cities, states, and other government entities that offer OPEB and report under GASB.  Valuations are required to include both early retirees and medicare retirees, if they are allowed to continue on the employer’s plan(s).  The primary changes from GASB 45 to GASB 75 relate to a requirement for all school districts to report every other year, a change in the method of calculating a discount rate, and a requirement to include the liability on the District’s combined financial report.

Compliance Deadlines

There are now essentially just two classifications of districts:  those with more than 100 members on their plan, and those with 100 or fewer members on their plan.  All districts must include a Complete Valuation starting for the year ending June 30, 2018, and then a Roll Forward report every other year.  ISFIS recommends using a census date of September 1 of each year, which can be used for both a two year period.  The Roll Forward year will then only need to be adjusted for a change in the discount rate which is a much simpler valuation to run and less effort on behalf of district staff to pull together.

Number of Members

"Members" include all active employees, terminated employees who have accumulated benefits but are not yet receiving them, retirees currently receiving benefits, surviving spouses (if they are entitled to coverage), and eligible employees not actively participating.

Alternative Measurement Method (AAM) for Small Schools

Entities with more than 100 Members must have a Full Valuation (or Standard Valuation).  Entities with 100 or fewer members may use an Alternative Measurement Method (AMM) Valuation.  The ISFIS AMM solution is available at a greatly reduced rate.

Pre-Funding Benefits

GASB 75 does not require entities to pre-fund, but does require these liabilities to be reported in the financial statements.  The intent of GASB 75 is to focus increased attention on non-pension retiree benefits and the need to intelligently manage these costs.

Getting Started

To get started with your GASB 75 Valuation with ISFIS, simply email us a copy of your most recently completed valuation at  We can then provide you with a quote.  If you're not sure which report you need, contact your auditor for assistance.