Status of Statement No. 45

Summaries / Status

Status of Statement No. 45
Accounting and Financial Reporting by Employers for Postemployment Benefits Other Than Pensions


Status

Issued: June 2004

Effective Date:

The requirements of this Statement are effective in three phases based on a government's total annual revenues in the first fiscal year ending after June 15, 1999:

Earlier application of this Statement is encouraged. All component units should implement the requirements of this Statement no later than the same year as their primary government.

  • Governments that were phase 1 governments for the purpose of implementation of Statement 34—those with annual revenues of $100 million or more—are required to implement this Statement in financial statements for periods beginning after December 15, 2006.
  • Governments that were phase 2 governments for the purpose of implementation of Statement 34—those with total annual revenues of $10 million or more but less than $100 million—are required to implement this Statement in financial statements for periods beginning after December 15, 2007.
  • Governments that were phase 3 governments for the purpose of implementation of Statement 34—those with total annual revenues of less than $10 million—are required to implement this Statement in financial statements for periods beginning after December 15, 2008.
Affects:
  • Amends NCGAI 6, ¶4 and ¶5
  • Amends GASBS 10, ¶2
  • Supersedes GASBS 12, ¶1–¶10, ¶12–¶14, and fn1–fn5
  • Amends GASBS 16, fn6 and fn7
  • Amends GASBS 27, ¶6, ¶7, and ¶39, and fn3
  • Supersedes GASBS 27, ¶24
  • Amends GASBI 6, ¶7
  • Supersedes GASBI 6, fn3

Affected by:

  • Paragraphs 1-26 and 28-41 superseded by GASBS 75
  • Paragraph 3 amended by GASBS 63, ¶8
  • Paragraph 8 amended by GASBS 47, ¶3 and ¶8, and GASBS 74
  • Paragraph 9 amended by GASBS 74
  • Paragraph 11 amended by GASBS 57, ¶6
  • Footnotes 1-4 superseded by GASBS 75
  • Footnote 5 superseded by GASBS 57, ¶6
  • Footnotes 6-32 superseded by GASBS 75
  • Paragraph 12 amended by GASBS 57, ¶8
  • Footnote 6 amended by GASBS 63, ¶8
  • Paragraph 18 amended by GASBS 63, ¶8
  • Paragraph 22 amended by GASBS 74, ¶59
  • Footnote 19 amended by GASBS 74, ¶34–¶38
  • Footnote 21 amended by GASBS 74, ¶36 and ¶37
  • Paragraph 27 superseded by GASBS 74, ¶58 and ¶59
  • Paragraph 40 amended by GASBS 47, ¶3, and GASBS 57, ¶3 
  • Footnote 25 amended by GASBS 74, ¶60

Other Interpretive Literature:

  • GASBTB 2004-2 (Provides guidance on ¶19–21 and ¶23)
  • GASBTB 2006-1 (Provides guidance on ¶22)
  • GASBTB 2008-1 (Provides guidance on ¶15 and ¶16)
  • GASB Implementation Guide 2015-1
  • GASB Implementation Guide 2016-1

Primary Codification Section Reference: None
 


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