Services GASB45/OPEB Valuations

Sound Actuarial Consulting’s GASB45 / OPEB practice is managed by Amy Hicks and Keith Young. We service mainly public sector clients located in New York State. This service was initially offered to many of the school districts who were already clients in our workers compensation practice area. Over the past several years the GASB45 consulting practice has grown to include other New York public sector entities, including Towns, Villages, Libraries, Water Districts and Fire Districts.

The following services are included as part of a typical GASB45 engagement at Sound Actuarial Consulting:

  • Complete valuation of other postemployment benefits other than pension (OPEB) in accordance with GASB Statement 45
  • Comprehensive report outlining the assumptions and results of the analysis
  • Close communication with the client during the data collection phase
  • Presentation of the results of the analysis at the client’s site or to the School, Town or Village Board
  • Communication with the client’s accountants/auditors; in many cases this involves educating and explaining the intricacies of the OPEB analysis and aiding auditors in identifying items they may want to disclose on the financial statements
  • Interim analysis, if requested; GASB45 requires a full valuation only every two years (every three years for smaller entities)