GASB Information and Release Dates

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The Governmental Accounting Standards Board (GASB) is an independent, non-profit, non-governmental regulatory body that establishes accounting and financial reporting standards for U.S. state and local governments.

GASB requires, for purposes of governmental financial reporting, that a proportionate share of the total net pension liability of the IPERS trust fund be shown on the financial statements of each employer required to comply with GASB 68. Employers also must show a proportionate share of the total pension expense, collective deferred inflows of resources and deferred outflows of resources of the IPERS trust fund on the face of each employer’s financial statements. 
These standards require employers to include additional footnote disclosures about the pension trust fund in their financial statements. 

Release Dates

IPERS releases important information throughout the year for employers to reference. The chart below shows the approximate release dates

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ItemRelease Date
Contributions by Employer and Group (Unaudited)August
GASB 67 ReportNovember
IPERS' Annual Financial ReportDecember
GASB 68 ReportNovember – March
Schedules of Pension Amounts by EmployerFebruary – April
GASB 68 Audit ReportFebruary – April

IPERS and the Iowa Auditor of State provide numerous resources to help employers comply with the GASB standards. 

Iowa Auditor of State 
The Iowa Auditor of State provides sample note disclosures, templates for calculating your journal entries and the audit report, which includes everything from notes to schedules.

Net Pension Liability and Proportion Workbook

Use this workbook to calculate your organization’s net pension liability/asset and proportion. The numbers you derive from this workbook are what you should report in your financial reports, per GASB. 

Schedules of Pension Amounts by Employer

The following schedules provide the data you need to complete the workbook calculations. The schedules, which have been audited by the Auditor of State, are sorted by 5-digit IPERS employer ID number and provided in Microsoft Excel. The Sample GASB 68 Calculators provided by the Auditor of State’s Office may be used to complete your calculations and journal entries.

NOTE: The proportions in these six spreadsheets are not the proportions to report in your financial reports. Use the workbook above to calculate the proportion to report. 

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GASB Reports

Contributions by Employer and Group (Unaudited)

The FY2023 Contributions by Employer and Group (unaudited) will help you with calculating deferred outflows. These contribution amounts are not audited and are only to be used as a reasonability check. You will need to reconcile them to your own records.

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Frequently Asked Questions

Frequently Asked Questions

Prior to the issuance of GASB Statement No. 82, Pension Issues, Statements 67 and 68 required presentation of covered-employee payroll (which is the payroll of employees who are provided with pensions through the pension plan), and ratios that use that measure, in schedules of required supplementary information. IPERS does not collect this information. However, GASB 82 amends Statements 67 and 68 to instead require the presentation of covered payroll, defined as the payroll on which contributions to a pension plan are based, and ratios that use that measure. IPERS does collect this information and it is available to employers through I-Que.

Yes. The proportion listed on the Schedules of Pension Amounts by Employer is your proportion for that membership group, not for IPERS in total. Use the Employer Calculation of Total Net Pension Liability/(Asset) and Proportion workbook to calculate your proportion of the NPL for IPERS in total. See the instructions and the example for schools in the workbook for further guidance.

IPERS’ actuaries calculate a Net Pension Liability/Asset for each employee group, as detailed in the GASB 68 Report (from Cavanaugh Macdonald Consulting) above. Using each employer's proportion of employer contributions paid to IPERS (i.e. your employer contributions for that group divided by all employer contributions paid to IPERS for that group), IPERS has apportioned the Net Pension Liability/Asset to each employer by membership group. This means that the total proportions for all three groups comes to 300%. Since IPERS is one trust fund with three membership groups, an additional calculation needs to be done to get your organization’s proportion of the net pension liability for IPERS in total.

You will use the data reported in IPERS' most recent CAFR and GASB 67 Report, which are both published every December. The related GASB 68 actuarial report is generally published in February or early March. Audited GASB 68 schedules are provided every spring. If the availability of this information does not meet your reporting requirements, please work with your auditor to develop alternative solutions, if any.

Only cities that are required to have an audit of their financial statements need to work with the GASB 68 Notes to Financial Statements and Required Supplementary Information. Cities that are subject to annual or periodic examinations will not need to work with the GASB 68 information because their financial statements are not audited.

IPERS posts employers’ contributions on our website for the prior fiscal year near the end of August. These contributions will not be audited at that point and should be used only as a reasonability check against your own records. These contribution amounts will only include contributions paid specifically for the most recent fiscal year (ended June 30). Any contributions paid during the most recent fiscal year for prior fiscal years will not be included in the amounts posted.

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