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December 13, 2017

CoSer: 616-7211

Service Code:
616.000

Contact

 

Gregg Diefenbach
Deputy Director of Administrative and Management Services
(518) 464-3902
gregg.diefenbach@neric.org

 

Hayley Gundersen
Assistant Actuary
(518) 464-3976
hayley.gundersen@neric.org

 

 
2017-18 PRICING:

Based on actual services requested

 
2016-17 PRICING:

Based on actual services requested

 

 

 

 

 

 

 

 

 

 

 

 

 

GASB 45
Service Description

GASB Webinar

  • A recording of the GASB Webinar that was held  Jan. 27, 2016 can be found here.

  • Click here for accompanying Power Point presentation [as PDF]

We provide Public School Districts, BOCES, and Public Entities with:

  • Completion of Other Post Employment Benefit (OPEB) valuations required by the Government Accounting Standards Board (GASB) Statement 45.
  • Assistance to subscribers with monitoring the financial and economical impact of OPEB costs.
RDS ATTESTATION SERVICE DESCRIPTION

We provide:

  • Actuarial Attestations for clients participating in Medicares Retiree Drug Subsidy (RDS) program.
  • Thorough one-on-one reviewing of the completed attestation report to confirm the client has a deep understanding of the results.
Advantages of Our Service

Capital Region BOCES offers a unique service that you cannot find anywhere else. Our promise is to:

  • Be Personable with our Clients
    • Your continuous business is important to us and we want to make your experience designed to your needs.
  • Be Thorough and Precise with our Results
    • We know how important accuracy is for you and that is why we make precision a top priority.
  • Keep Current with our Mathematical Processes
    • There are always new Actuarial Processes and Information evolving and because of that our Chief Actuary dedicates himself to so many Actuarial Societies, Groups, and Organizations.
  • Be Timely with your Results
    • We know that the timely completion of this service is important to your institute. We are committed to meeting your deadlines and completion dates.
FAQs
  • Q: What is GASB 45?

  • A: GASB 45, or GASB Statement 45, is a financial reporting provision requiring employers to measure and report the liabilities associated with the Other (than pension) Postemployment Benefits (or OPEB). Reported OPEBs may include post – retirement medical, pharmacy, dental, vision, life, long – term disability, and long-term care benefits that are not associated with a pension plan. Government employers required to comply with GASB 45 include all states, towns, education boards, public schools, and all other government entities that offer OPEB and report under GASB. GASB 45 is part of your end – of – year audit.

  • Q: How do I determine if I am on a Biannual or Triannual Valuation schedule?

  • A: If your Total membership is below 200 employees (Actives, Retirees, & Surviving spouses) then you will be on a Triannual Schedule. Your first year will be a Full Valuation and the next two years are Estimated (Updated) Valuations. If your Total membership is above 200 employees (Actives, Retirees, & Surviving spouses) then you will be on a Biannual Schedule. Your first year will be a Full Valuation and the next year is an Estimated (Updated) Valuation.

  • Q: What is the difference between a Full Valuation and an Estimated (Updated) Valuation

  • A: A Full Valuation is when the actuary performs a valuation based off of new data from the client containing census data, premium rates, contribution amounts, etc. The Estimated (Updated) Valuation is when the actuary performs a valuation based off of estimates from the previous report. During the year of the Estimated (Updated) report, the actuary does not require new census data from the client.

 

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