4 Reporting
4.7 Required Supplementary Information (RSI)
4.7.3 Pension Plan Information
Templates for the Pension RSI can be found on the BARS Reporting Templates page.
4.7.3.10 Cost sharing multiple-employer defined benefit pension plans that are accounted for in a qualifying trust (such as PERS, SERS, PSERS, TRS, & LEOFF).
4.7.3.11 A 10-year Schedule of Proportionate Share of the Net Pension Liability (as of the measurement date of the NPL)
a. The employer's proportion (percentage) of the collective net pension liability
b. The employer's proportionate share (amount) of the collective net pension liability
c. If there is a special funding situation (for example LEOFF plans): The portion of the nonemployer contributing entities' total proportionate share (amount) of the collective net pension liability that is associated with the employer
d. If there is a special funding situation (for example LEOFF plans): the total of (b) and (c)
e. The covered payroll. Covered payroll is the payroll on which contributions to a pension plan are based.
f. The employer’s proportionate share (amount) of the collective net pension liability as a percentage of the employer's covered payroll
g.The pension plan's fiduciary net position as a percentage of the total pension liability.
4.7.3.12 A 10-year Schedule Employer Contributions (as of the government’s fiscal year end)
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 pension plan that arose in a prior fiscal year and those associated with separately financed specific liabilities of the individual employer to the pension plan.
b. The amount of contributions recognized by the pension plan in relation to the statutorily or contractually required employer contribution.
For purposes of this schedule, contributions should include only amounts recognized as additions to the pension plan's fiduciary net position during the employer's fiscal year resulting from actual contributions and from contributions recognized by the pension plan as current receivables.
c. The difference between the statutorily or contractually required employer contribution and the amount of contributions recognized by the pension plan in relation to the statutorily or contractually required employer contribution.
d. The covered payroll. Covered payroll is the payroll on which contributions to a pension plan are based.
e. The amount of contributions recognized by the pension plan in relation to the statutorily or contractually required employer contribution as a percentage of covered-payroll.
This schedule should report the amount of contributions recognized by each pension plan. Contributions from PERS 2/3, SERS 2/3, and PSERS 2 that go to PERS 1 should be reported as PERS 1 contributions.
4.7.3.14 Covered Payroll Differences
Note that the RSI schedules have two different measures of covered payroll. The Schedule of Proportionate Share of the Net Pension Liability is dated as of the plan’s measurement date (6/30 for state plans). The Schedule of Employer Contributions is dated as of the employer’s year end. In cases where these two dates are different, the amounts reported for covered payroll will be different.
4.7.3.15 Notes to the RSI
The notes should disclose information about factors that significantly affects trends in the amounts reported (e.g., changes of benefit terms, changes in the size or composition of the population covered by the benefit terms, or the use of different assumptions, etc.).
4.7.3.20 Single-employer defined benefit pension plans NOT provided through a qualifying trust.
The RSI schedules should be presented separately for each pension plan. If a primary government and one or more of its component units provide pensions through the same single employer or agent pension plan, required supplementary information in the reporting entity’s financial statements should present information for the reporting entity as a whole.
4.7.3.21 A 10-year Schedule of Changes in the Total Pension Liability (as of the measurement date of the TPL)
a. The beginning balance of the total pension liability
b. The effects during the period of the following items, if applicable, on the total pension liability:
(1) Service cost,
(2) Interest on the total pension liability,
(3) Changes of benefit terms,
(4) Differences between expected and actual experience in the measurement of the total pension 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 pension liability
(2) The employer’s proportionate share of the total pension liability
4.7.3.22 A 10 year Schedule of related ratios (as of the measurement date of the TPL)
If the employer does not have a special fund situation:
a. The total pension liability,
b. The covered employee payroll,
c. The total pension liability as a percentage of covered payroll.
If the employer does have a special fund situation:
a. The total pension liability
b. The nonemployer contributing entities’ total proportionate share (amount) of the total pension liability
c. The employer’s proportionate share (amount) of the total pension liability
d. The covered-employee payroll
e. The employer’s proportionate share (amount) of the total pension liability as a percentage of covered-employee payroll.
The Schedule of Changes in the Total Pension Liability and Schedule of related ratios can be combined into one schedule (Schedule of Changes in Total Pension Liability and Related Ratios).
4.7.3.25 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.
4.7.3.30 Single-employer defined benefit pension plans provided through a qualifying trust.
The RSI schedules should be presented separately for each pension plan. If a primary government and one or more of its component units provide pensions through the same single employer or agent pension plan, required supplementary information in the reporting entity’s financial statements should present information for the reporting entity as a whole.
4.7.3.31 A 10-year Schedule of Changes in the Net Pension Liability (as of the measurement date of the NPL)
a. The beginning balances of the total pension liability, the pension plan’s fiduciary net position, and the net pension liability.
b. The effects during the period of the following items, if applicable, on the balances in subparagraph (a):
- Service cost,
- Interest on the total pension liability,
- Changes of benefit terms,
- Differences between expected and actual experience in the measurement of the total pension liability,
- Changes of assumptions or other inputs,
- Contributions from the employer,
- Contributions from nonemployer contributing entities,
- Contributions from employees,
- Pension plan net investment income,
- Benefit payments, including refunds of employee contributions,
- Pension plan administrative expense,
- Other changes, separately identified if individually significant.
c. The ending balances of the total pension liability, the pension plan’s fiduciary net position, and the net pension liability
d. If the employer has a special funding situation:
(1) The nonemployer contributing entities’ total proportionate share of the collective net pension liability,
(2) The employer’s proportionate share of the collective net pension liability.
4.7.3.32 A 10-year Schedule of related ratios (as of the measurement date of the TPL)
If the employer does not have a special funding situation:
a. The total pension liability,
b. The pension plan’s fiduciary net position,
c. The net pension liability,
d. The pension plan’s fiduciary net position as a percentage of the total pension liability,
e. The covered payroll,
f. The net pension liability as a percentage of covered payroll.
If the employer has a special funding situation, information about the collective net pension liability:
a. The total pension liability,
b. The pension plan’s fiduciary net position,
c. The collective net pension liability,
d. The nonemployer contributing entities’ total proportionate share (amount) of the collective net pension liability,
e. The employer’s proportionate share (amount) of the collective net pension liability,
f. The covered payroll,
g. The employer’s proportionate share (amount) of the collective net pension liability as a percentage of covered payroll,
h. The pension plan’s fiduciary net position as a percentage of the total pension liability.
The Schedule of Changes in the Net Pension Liability and Schedule of related ratios can be combined into one schedule (Schedule of Changes in Net Pension Liability and Related Ratios).
4.7.3.33 A 10-year Schedule of 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, to separately finance specific liabilities of the individual employer to the pension plan.
b. The amount of contributions recognized by the pension plan in relation to the actuarially determined contribution of the employer.
For purposes of this schedule, contributions should include only amounts recognized as additions to the pension plan’s fiduciary net position during the employer’s fiscal year resulting from actual contributions and from contributions recognized by the pension plan as current receivables.
c. The difference between the actuarially determined contribution of the employer and the amount of contributions recognized by the pension plan in relation to the actuarially determined contribution of the employer.
d. The covered payroll.
e. The amount of contributions recognized by the pension plan in relation to the actuarially determined contribution of the employer as a percentage of covered 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, to separately finance specific liabilities of the individual employer to the pension plan.
b. The amount of contributions recognized by the pension plan in relation to the statutorily or contractually required employer contribution.
For purposes of this schedule, contributions should include only amounts recognized as additions to the pension plan’s fiduciary net position during the employer’s fiscal year resulting from actual contributions and from contributions recognized by the pension plan as current receivables.
c. The difference between the statutorily or contractually required employer contribution and the amount of contributions recognized by the pension plan in relation to the statutorily or contractually required employer contribution.
d. The covered payroll.
e. The amount of contributions recognized by the pension plan in relation to the statutorily or contractually required employer contribution as a percentage of covered payroll.
4.7.3.34 A 10-year Schedule of Investment Returns
This schedule should present the annual money-weighted rate of return on pension plan investments calculated as required by Governmental Accounting Standards Board (GASB) Codification of Governmental Accounting and Financial Reporting Standards (Cod.) Section (Sec.) Pe5 "Pension Plans Administered through Trusts that Meet Specified Criteria - Defined Benefit".
4.7.3.35 Notes to RSI
The notes should describe significant methods and assumptions used in calculating the actuarially determined contributions. In addition, for each of the schedules, 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.