Governmental Accounting Standards require governmental entities to measure and account for their pension (GASB 27) and postretirement health benefits (GASB 45) on their financial statements.  We provide the complete actuarial valuation and report for governmental entities (cities, towns, park districts, school and water districts, etc.) to meet the reporting requirements. Additionally, our proven process and experience working directly with auditors streamlines the audit process.

GASB 45 Alternative Measurement Method – Did You Know?

If an entity is required to have a GASB 45 actuarial valuation and has under 100 members, they are eligible to use a simplified method under GASB 45 called the Alternative Measurement Method.

The Alternative Measurement Method allows for simplified actuarial processes to determine the required reporting requirements under GASB 45.  Online services for this Alternative Measurement Method vary widely. We offer the full service including data collection, actuarial valuation performed by actuaries, and financial accounting report for a fixed fee.

Valuation Frequency

Actuarial valuation may generally be relied upon for three (3) years if an entity has less than 200 members. If the entity has 200 or more members, valuations may generally be relied upon for three (3) years. Significant plan and/or demographic changes may necessitate interim actuarial valuations.