GASB 43-45 Compliance through Cavanaugh Macdonald Consultants

Actuarial studies for Other Post Employment Benefits (March 2011)
The NCACC is offering county governments a chance to have actuarial studies done for Other Post-Employment Benefits (OPEB) in accordance with GASB 43 and 45. OPEB includes such post- employment benefits as health, dental, vision, hearing and other health-related benefits (regardless of whether they are separate plans or provided through a defined benefit pension plan), as well as life insurance, long-term care and disability insurance when provided outside of a pension plan.

We are also strongly encouraging smaller counties (with less than 100 active and retired participants) that require only an alternative measurement method to determine the liabilities, to utilize Cavanaugh Macdonald to work with you on the funding and design solutions for your plans.

The NCACC has engaged into a long term contract with Cavanaugh Macdonald Consulting, LLC, to conduct the Post Retirement Medical actuarial studies for counties. Cavanaugh Macdonald Consulting, LLC, is a premiere actuarial consulting firm founded solely for the purpose of providing actuarial services to state and local governments. They already perform the actuarial valuation for the Special Separation Allowance for Law Enforcement Officers.

• OPEB data request template (XLS)

Local officials work toward GASB 45 compliance (October 2009)
Nearly one in five local governments that provide healthcare benefits to retirees are not aware of new accounting guidelines going into effect this year that impact how local governments must report these liabilities.

Association teams with Cavanaugh Macdonald Consultants to offer actuarial services for counties (May 2006)
The Association is offering a new endorsed product to help counties comply with Government Accounting Standards Board (GASB) standards 43 and 45 that require local governments to determine the costs of retiree benefits (other than pensions) and show them as expenses on financial statements.