GASB 68 Toolkit

GASB 68

The Governmental Accounting Standards Board (GASB) is an independent organization that establishes accounting and financial reporting standards for states, local governments, and school districts. The following documents provide employers GASB 68 financial reporting information to account for PERA pension liabilities and expenses.

Audit Information

The following opinions, letters, and communication provide employers information about the GASB 68 audit process for their financial reporting. 

Employer Financial Reporting

Employers are required to include pension footnote disclosures and pension-related schedules as required supplementary information (RSI). This additional pension information informs financial statement users how the pension liability changes over time and what economic events and assumptions impact the changes in the liability.

Employer Contribution Reconciliation

The following reports reconcile the employer proportionate share contributions to the employer financial statement contributions.

Change in NPL Proportion Supporting Schedule

The following reports provide the change in net pension liability (NPL) of the employer’s proportionate share of PERA's unfunded liability.

Additional State of Minnesota Contributions

The following reports provide the change in net pension liability (NPL) of the employer’s proportionate share of PERA's unfunded liability.

Statewide Volunteer Firefighter (SVF) Plan

These documents provide SVF GASB 68 financial reporting information on plan assets, audit summary, suggested footnotes, and actuary certification letter.

*In 2023, PERA restructured its GASB 68 reporting for the Statewide Volunteer Firefighter Fund and didn’t provide calendar year 2023 information; instead, employers re-reported 2022 SVF GASB 68 information. 

Financial Reporting Actuarial Valuations

These actuarial valuation reports provide accounting and financial reporting information in compliance with the Governmental Accounting Standards Board (GASB) Statements No. 67 and No. 68. See the Actuarial Valuations page for the current reports.