cost sharing

Editor's Note: NHMA would like to recognize and acknowledge the significant foundational contributions of former Government Finance Advisor, Barbara T. Reid, in the development of this important advocacy publication.

On June 25, 2012, the Governmental Accounting Standards Board (GASB) approved new accounting and reporting standards for pensions provided by state and local governments. GASB Statement No. 67, Financial Reporting for Pension Plans, applies to state and local pension plans established as trusts or similar arrangements. GASB Statement No. 68, Accounting and Financial Reporting for Pensions applies to governmental employers that sponsor or contribute to pension plans.