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29 <br /> 1 Slide #3 <br /> What Is GASB <br /> 74 and 75? <br /> V11, <br /> Governmental Accounting Standards Board Statement No. 74 (GASB <br /> 74) Financial reporting for OPEB plam (a.k a.the Irrevocable Trust). <br /> i� We need 6130 Trust information and employer amounts paid outside the <br /> Trust annually. <br /> i�- Some:plans may need a blended discount rate developed. We call this the <br /> Single Equivalent Interest Fate or SEIR. <br /> 30- Effective starting with fiscal years after June 15,2416. <br /> GASB 75:Accounting and financial reporting for who have <br /> OPEB plans. <br /> 3. Effective starting with fiscal years after June 15,2417. <br /> > Change County receives a combined report meaning the GASB 74 and <br /> GASB 75 information uses the same measurement date. <br /> 2 <br /> 3 <br /> 4 Slide #4 <br /> How Is the Liability Calculated? <br /> i Liability calculations are based on the following! <br /> • Provisions of the plan <br /> • Demographics of active and retired employees <br /> • Benefit costs <br /> • Demographic and economic assumptions <br /> 5 <br /> 6 <br /> 7 <br />