OPEB Valuation Compliance Service GASB 74, 75

IASB^® collaborates with Gallagher to offer Governmental Accounting Standards Board (GASB) Statement Number 74 and 75 actuarial consulting services for Other Post-Employment Benefits (OPEB). The program provides a simplified method for those districts with less than 100 total plan members.

A “full” GASB 74/75 valuation is required every two years. During the interim year, a simplified “rollforward” valuation is performed. The rollforward valuation relies on the census data, assumptions, methods, and plan provisions from the prior year’s full valuation. If there are significant retiree plan changes or unforeseen census swings, such changes may be reflected in the rollforward valuation. 

Download Gallagher’s GASB 74/75

Contact & Billing Information

For more information about GASB, email Calvin VandeKrol or call (515) 247-7030.

Primary Contact Information
Sean S. Kim, Director, (609) 436-4854, sean_kim@ajg.com 
Hannah Rosser, Senior Actuary, (609) 436-4872, hannah_rosser@ajg.com  

Billing and Pricing Contact Information
Kathy Peake, Branch Operations Manager & Branch Finance Manager, (609) 436-4890, kathy_peake@ajg.com

Alternative Measurement Method (Less Than 100 Total Plan Members)

The GASB 75 Online Valuation Tool is available for those member districts that are eligible for the Alternative (or simplified) Measurement Method permitted by the Governmental Accounting Standards Board (GASB). To be eligible for the simplified method, a district must: 

1. Be a sole (single) employer; 
2. Offer fully insured health coverage to participants; and, 
3. Have fewer than 100 total plan members (including eligible employees in active service, terminated employees who have accumulated benefits but are not yet receiving them, and retirees that are currently receiving benefits).
   

If you have used the online tool in the past, you may login with your previous username and password to submit data for an updated valuation report. If you are unsure whether your district will qualify, the online tool has a "Do I Qualify?" questionnaire, or you may consult with your school auditor.

Gallagher Consulting Agreement

Download, complete, and email the consulting agreement to Gallagher.

 Additional options: 

• On-site meeting with Gallagher Actuaries to present the final report 
• Additional GASB 75 liability scenarios/studies (changes in enrollment, plan provisions, benefit designs, actuarial assumptions, etc.) 
• Multi-year projection of GASB 75 liability and accounting results