Status of Statement No. 50

Summaries / Status

Status of Statement No. 50
Pension Disclosures—an amendment of GASB Statements No. 25 and No. 27


Issued: May 2007

Effective Date:
    For periods beginning after June 15, 2007, except for requirements related to the use of the entry age actuarial cost method for the purpose of reporting surrogate funded status and funding progress information for plans that use the aggregate actuarial cost method, which are effective for periods for which the financial statements and required supplementary information contain information resulting from actuarial valuations as of June 15, 2007, or later.

  • Amends GASBS 25, ¶27, ¶32, ¶36, ¶37, ¶40, and ¶41 and fn24
  • Supersedes GASBS 25, fn17 and fn18
  • Amends GASBS 27, ¶20–¶22 and fn10 and fn17
Affected by:
  • Paragraph 3 amended by GASBS 67, ¶3 and ¶5 and GASBS 68, ¶4–¶6

Other Interpretive Literature:

    GASB Comprehensive Implementation Guide
Primary Codification Section Reference: P21, Pe5, Pe6

Abbreviations for Accounting Pronouncements

GASBS - GASB Statements
GASBCS - GASB Concepts
GASBI - GASB Interpretations
GASBTB - GASB Technical Bulletins
BFC - Basis For Conclusions
NCGAS - NCGA Statements
NCGAI - NCGA Interpretations
SOP - AICPA Statements of Position
ASLGU - AICPA Audit Guide
GASB Q&A - GASB Implementation Guides