4 Reporting
4.7 Required Supplementary Information (RSI)
4.7.4 Other Postemployment Benefit (OPEB) Plan Schedules
4.7.4.10 For information on which standards apply to the government refer to BARS Manual 3.4.17, Other Postemployment Benefits (OPEB). Templates for the Pension RSI can be found on the BARS Reporting Templates page.
4.7.4.20 If the financial statements and required schedules of the plan (whether single-employer, agent, or cost sharing) are not publicly available in a stand-alone plan financial report, the employer should report all required schedules for each plan included in the employer’s report.
OPEB Schedules and Notes
4.7.4.30 OPEB plans not administered through a qualifying trust
The RSI schedules should be presented separately for each OPEB plan. If a primary government and one or more of its component units provide OPEB through the same OPEB plan, required supplementary information in the reporting entity’s financial statements should present information for all benefits provided by the reporting entity through the OPEB plan.
4.7.4.31 A 10-year Schedule of Changes in Total OPEB Liability (as of the measurement date of the Total OPEB Liability)
a. The beginning balance of the total OPEB liability
b. The effects during the period of the following items, if applicable, on the total OPEB liability:
(1) Service cost,
(2) Interest on the total OPEB liability,
(3) Changes of benefit terms,
(4) Differences between expected and actual experience in the measurement of the total OPEB liability,
(5) Changes of assumptions or other inputs,
(6) Benefit payments,
(7) Other changes, separately identified if individually significant.
c. The ending balances of the total pension liability
d. If the employer has a special funding situation:
(1) The nonemployer contributing entities’ total proportionate share of the total OPEB
(2) The employer’s proportionate share of the total OPEB liability
4.7.4.32 A 10-year Schedule of related ratios (as of the measurement date of the Total OPEB Liability).
If the employer does not have a special funding situation:
a. The total OPEB liability.
b. The covered-employee payroll.
Covered-employee payroll is the payroll of employees that are provided with OPEB through the OPEB plan
c. The total OPEB liability as a percent of covered-employee payroll.
If the employer has a special funding situation
a. The total OPEB liability
b. The nonemployer contributing entities’ total proportionate share (amount) of the total OPEB liability
c. The employer’s proportionate share (amount) of the total OPEB liability
d. The covered-employee payroll
e. The employer's proportionate share (amount) of the total OPEB liability as a percentage of the covered-employee payroll
The Schedule of Changes in the Total OPEB Liability and Schedule of related ratios can be combined into one schedule (Schedule of Changes in Total OPEB Liability and Related Ratios).
4.7.4.35 Notes to RSI
The notes must state that there are no assets accumulated in a trust that meets the criteria of a qualified plan. In addition, information should be presented about factors that significantly affect trends in the amounts reported – for example, changes of benefit terms, changes in the size or composition of the population covered by the benefit terms, or the use of different assumptions. (The amounts presented for prior years should not be restated for the effects of changes – for example, changes of benefit terms or changes of assumptions – that occurred subsequent to the measurement date of that information.)
4.7.4.40 OPEB plans administered through a qualifying trust:
The RSI Schedules should be presented separately for each single-employer and agent OPEB plan. If a primary government and one or more of its component units provide OPEB through the same single employer or agent OPEB plan, required supplementary information in the reporting entity’s financial statements should present information for all benefits provided by the reporting entity through the single-employer or agent OPEB plan.
4.7.4.41 A 10-year Schedule of Changes in Net OPEB Liability (as of the measurement date of the Net OPEB Liability)
a. The beginning balances of the total OPEB liability, the OPEB plan’s fiduciary net position, and the net OPEB liability
b. The effects during the period of the following items, if applicable:
(1) Service cost
(2) Interest on the OPEB liability
(3) Changes of benefit terms
(4) Differences between expected and actual experience in the measurement of the total OPEB liability
(5) Changes of assumptions or other inputs
(6) Contributions from the employer
(7) Contributions from nonemployer contributing entities
(8) Contributions from active employees and inactive employees not yet receiving benefit payments
(9) OPEB Plan net investment income
(10) Benefit payments (including refunds of employee contributions and amounts from employers or nonemployer contributing entities for OPEB as the benefits came due)
(11) OPEB administrative expense
(12) Other chances, separately idenfied if individually significant.
c. The ending balances of the total OPEB liability, the OPEB plan’s fiduciary net position, and the net OPEB liability.
d. If the employer has a special funding situation:
(1) The nonemployer contributing entities’ total proportionate share of the collective net OPEB liability
(2) The employer’s proportionate share of the collective net OPEB liability.
4.7.4.42 A 10-year Schedule of related ratios (as of the measurement date of the Total OPEB Liability)
If the employer does not have a special funding situation:
a. The total OPEB liability
b. The OPEB plan’s fiduciary net position
c. The net OPEB liability
d. The OPEB plan’s fiduciary net position as a percentage of the total OPEB liability
e. The covered payroll if contributions to the OPEB plan are based on payroll, otherwise the employee-covered payroll
Covered payroll is the payroll on which contributions to an OPEB plan are based.
Covered-employee payroll is the payroll of employees that are provided with OPEB through the OPEB plan.
f. The net OPEB liability as a percentage of covered payroll/covered-employee payroll.
If the employer does have a special funding situation:
a. The total OPEB liability
b. The OPEB plan's fiduciary net position
c. The collective net OPEB liability
d. The nonemployer contributing entities' total proportionate share (amount) of the collective net OPEB liability
e. The employer's proportionate share (amount) of the collective net OPEB liability
f. The covered payroll, if contributions to the OPEB plan are based on pay; otherwise, the covered-employee payroll
g. The employer's proportionate share (amount) of the collective net OPEB liability as a percentage of the payroll in subparagraph b(2)(f)
h. The OPEB plan's fiduciary net position as a percentage of the total OPEB liability.
4.7.4.43 A 10-year Schedule of Employer Contributions (as of the government’s fiscal year end)
If an actuarially determined contribution is calculated:
a. The actuarially determined contribution of the employer.
For purposes of this schedule, actuarially determined contributions should exclude amounts, if any, associated with payables to the OPEB plan that arose in a prior fiscal year and those associated with separately financed specific liabilities of the individual employer to the OPEB plan.
b. The amount of contributions recognized by the OPEB plan in relation to the actuarially determined contribution of the employer.
For purposes of this schedule, contributions should exclude amounts resulting from contributions recognized by the OPEB plan as noncurrent receivables.
c. The difference between the actuarially determined contribution of the employer and the amount of contributions recognized by the OPEB plan in relation to the actuarially determined contribution of the employer.
d. The covered payroll, if contributions to the OPEB plan are based on pay, otherwise the covered-employee payroll.
e. The amount of contributions recognized by the OPEB plan in relation to the actuarially determined contribution of the employer as a percentage of covered payroll/covered-employee payroll.
If an actuarially determined contribution is not calculated and the contribution requirements of the employer are statutorily or contractually established:
a. The statutorily or contractually required employer contribution.
For purposes of this schedule, statutorily or contractually required contributions should exclude amounts, if any, associated with payables to the OPEB plan that arose in a prior fiscal year and those associated with separately financed specific liabilities of the individual employer to the OPEB plan.
b. The amount of contributions recognized by the OPEB plan in relation to the statutorily or contractually required employer contribution.
For purposes of this schedule, contributions should exclude amounts resulting from contributions recognized by the OPEB plan as noncurrent receivables.
c. The difference between the statutorily or contractually required employer contribution and the amount of contributions recognized by the OPEB plan in relation to the statutorily or contractually required employer contribution.
d. The covered payroll, if contributions to the OPEB plan are based on pay, otherwise the covered-employee payroll.
e. The amount of contributions recognized by the OPEB plan in relation to the statutorily or contractually required employer contribution as a percentage of covered payroll/covered-employee payroll.
4.7.4.44 A 10-year Schedule of Investment Returns
This schedule should present the annual money-weighted rate of return on OPEB plan investments.
4.7.4.45 Notes to RSI
The notes should describe factors that significantly affect trends in the amounts reported. These factors include changes in benefit provisions, size or population covered by the plan, or actuarial methods or assumptions used. When changes occur in the factors discussed above the amounts for prior years should not be restated.