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CalSTRS Presentation on New Federal Accounting Standards Spotlights "Inflated" Shortfall

 

CalSTRS web-based publications underscore that recently-adopted federal Government Accounting Standards Board (GASB 45) accounting changes are wrongly giving the impression that pension systems' "unfunded liabilities" are larger than they really are.

The adoption of the GASB 45 reporting standards has also raised concerns that local school districts will act as if they must increase their fiscal reserves and allocate more resources to these "new liabilities" – even though the GASB 45 is simply a change in how reports are to be made.

An informative slide presentation was previewed at a recent CalSTRS Board meeting.    

The federal Governmental Accounting Standards Board (GASB) has also released a series of video resources, including podcasts, aimed to help inform the public about its controversial standards.      

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