Note X – Pension and/or OPEB Plans - Nongovernmental Plans (Pensions and/or OPEB Provided Through Certain Multiple-Employer Defined Benefit Pension Plans)
A template for this note is not available. See “Instructions to preparer:” for various disclosures that may be required.
Note that this guidance applies only to defined benefit plans; not defined contribution plans. See also, Note X, Pension and/or OPEB Plans-Defined Contribution.
Instructions to preparer:
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Name of each pension and/or OPEB plan, identification of the entity that administers the plan, and identification of the plan as a cost-sharing plan.
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is not a state or local governmental pension plan
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is used to provide defined benefit pensions to both state/local government employees and non-state/local government employees
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has no predominate state/local governmental employer (either individually or collectively)
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Whether the pension and/or OPEB plan issues a publicly available financial report and, if so, how to obtain the report.
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A brief description of the benefit terms, including:
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The number of the government’s employees covered,
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The types of benefits provided,
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The authority under which benefit terms are established or may be amended.
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A brief description of contribution requirements, including:
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The basis for determining the employer’s contributions to the plan (for example, pursuant to a collective-bargaining agreement),
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Identification of the authority under which contribution requirements of the employer and its employees are established or may be amended,
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The required contribution rates of the employer and its employees for the reporting period,
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The amount, in dollars, of the employer’s required contributions for the reporting period,
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The expiration date(s) of the collective-bargaining agreement(s) requiring contributions to the plan, if any,
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A description of any minimum contributions required for future periods by the collective-bargaining agreement(s), statutory obligations, or other contractual obligations, if applicable,
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Whether the employer is subject to any provisions regarding withdrawal from the plan.
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The following information about the employer’s payables, if any:
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If not otherwise identifiable, the balance of payables,
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Significant terms related to the payables,
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A description of what gave rise to the payables (for example, required contributions to the plan or a contractual arrangement for contributions to the plan related to past service upon entrance into the arrangement).
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