Status of Statement No. 32

Statement No. 32
Accounting and Financial Reporting for Internal Revenue Code Section 457 Deferred Compensation Plans—a rescission of GASB Statement No. 2 and an amendment of GASB Statement No. 31


Status

Issued: October 1997

Effective Date:

  • For periods beginning after December 31, 1998 or when plan assets are held in trust under the requirements of IRC Section 457, subsection (g), if sooner
Affects:

  • Supersedes GASBS 2
  • Amends GASBS 31, ¶2 and ¶4
Affected by:

  • Paragraphs 1–3 superseded by GASBS 97, ¶6 and ¶8
  • Footnote 1 superseded by GASBS 97, ¶6 and ¶8
  • Paragraph 4 amended by GASBS 34, ¶69, ¶70, and ¶106; superseded by GASBS 84, ¶14
  • Paragraph 5 superseded by GASBS 97, ¶6 and ¶8
  • Paragraph 6 amended by GASBS 34, ¶6; superseded by GASBS 97, ¶6 and ¶8
  • Pargraphs 7 and 8 superseded by GASBS 97, ¶6 and ¶8
Primary Codification Section Reference: None

Abbreviations for Accounting Pronouncements

GASBS - GASB Statements
GASBCS - GASB Concepts
GASBI - GASB Interpretations
GASBTB - GASB Technical Bulletins
GASBIG - GASB Implementation Guides		 NCGAS - NCGA Statements
NCGAI - NCGA Interpretations
AICPA SOP - AICPA Statements of Position
AICPA ASLGU - AICPA Audit Guide (1974)
BFC - Basis For Conclusions
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