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Welcome To The IASB GASB 75 Self-Serve Model

Actuarial Valuation of Postemployment Benefit Plan (OPEB)

Does your entity cover fewer than 100 plan members?

Our GASB 75 Self-Serve Model is an online tool that provides small public employers (those with fewer than 100 plan members) the opportunity to comply with GASB 75 requirements at a low cost. The model delivers a complete and timely valuation with a comprehensive report developed by our team of expert actuaries.

If you offer postemployment benefits such as medical, dental or vision, GASB 75 requires that your organization report the value of those current and future benefits. Our tool will first assess your eligibility to use the GASB 75 Self-Serve model, based on your answers to some simple questions. Then, using step-by-step guidance regarding plan components and contributions, and an easy-to-use data entry format, you will quickly be able to enter all data necessary to complete a valuation. Our model has been thoroughly tested by Arthur J. Gallagher actuaries to confirm accuracy.

The Governmental Accounting Standards Board released Statements No. 74 - Financial Reporting for Postemployment Benefit Plans Other Than Pension Plans (GASB 74) and Statement No. 75 - Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions (GASB 75) in June 2015, These two statements supersede GASB Statements 43 and 45, respectively, and establish uniform accounting and financial reporting standards for state and local governmental entities related to postemployment benefits other than pensions.

GASB 75 must be adopted for fiscal years beginning after June 15, 2016, and GASB 75 must be adopted for fiscal years beginning after June 15, 2017. While the previous statements allowed smaller entities the ability to have Valuations every three years, the replacement standards require all entities, regardless of size, to have a valuation perform every two years, which roll forward valuation performed on years in between.

 © Gallagher Benefit Services, Inc. 2009