Who GASB 75 Affects
The Governmental Accounting Standards Board (GASB) Statement 75 applies to public employers that provide post-retirement benefits, other than pensions, to their retirees.
Of the employers who participate in TCDRS, GASB 75 only applies to those who provide Group Term Life (GTL) coverage to their retirees, since this benefit is received after retirement.
Next Steps for Affected Employers
If you do provide GTL coverage to your retirees, this requirement will affect your financial reporting. It does not affect the cost of GTL coverage. These requirements are effective for fiscal years ending June 30, 2018, and after.
Your financial statements will have additional line items, schedules and note disclosures that only apply to the retiree portion of your GTL coverage. In June, a new GASB 75 report will be available on the Plan Documents page when you sign in to www.TCDRS.org/Employer. The report, similar to your GASB 68 report, will contain all the information you need to comply with these new standards. TCDRS will notify you when this report is available online.
If you have any questions, please call your TCDRS Employer Services Representative at