Governmental Accounting Standards Board


Governmental Accounting Standards Board

In June 2012, the Governmental Accounting Standards Board (GASB) released two new standards relating to pension accounting and financial reporting for state and local governments. The standards changed how pension plan liabilities are accounted for and disclosed in the financial statements of public pension plans and participating employers. These changes are intended to improve pension information and increase the transparency, consistency and comparability of pension information across governments.

The standards do not affect or alter how public pensions are funded or how your contribution rates are calculated.

Statement No. 67, Financial Reporting for Pension Plans

This statement addresses financial reporting for state and local government pension plans, including the New York State and Local Retirement System (NYSLRS). NYSLRS implemented this standard in the April 1, 2014 to March 31, 2015 fiscal year.

Statement No. 68, Accounting and Financial Reporting for Pensions

This statement affects the financial statements of NYSLRS employers. NYSLRS calculates and provides the required audited disclosure amounts to each participating employer.

Note: For your reference, here is the 2023 Schedules of Employer Allocations and Pension Amounts.

How to View Your GASB Information

If you have the Billing security role, each summer we notify you when the information you need to comply with the GASB accounting and financial reporting standards is available in Retirement Online. Sign in to your Retirement Online account. From your Account Homepage, click the “Access Billing Dashboard” button. Choose your location code and retirement system (ERS or PFRS), then scroll down and click the “Governmental Accounting Standards Board (GASB)” link.

Retirement Online gives you the ability to generate a report as a PDF or Excel file. In addition, you can choose to generate a report for the current fiscal year or previous fiscal years as early as 2015.

Retirement Online works best when viewed with Google Chrome or Microsoft Edge. If you use a different browser, your information may not display properly, or you may experience other problems.

If you need to access billing information for your organization and you don’t have the Billing security role, speak to your Security Administrator. They are responsible for granting and maintaining employee access to Retirement Online.

If you have any questions, use our help desk form and select “Governmental Accounting Standards Board (GASB) Reporting” from the dropdown. You may also wish to consult with your own accountant or an independent auditor about these standards.


Rev. 8/23