1. GASB Pension Statements - Colorado pera
Karl Greve, Chief Financial Officer

2. Census Data Audits AICPA – Annual Census Data Audits
Test completeness and accuracy of census data provided by employers
Plan auditor (KPMG) selects sample of employers based on criteria detailed in AICPA white paper
Employer auditors will complete testing and provide attestation report
PERA is working with State Auditor and KPMG to finalize the process

3. Colorado PERA Deliverables (Subject to Change)
Schedule of Beginning NPL Balance as of December 31, 2013
Schedule of Pension Amounts as of December 31, 2014
Schedule of Employer Allocations for year ended December 31, 2013, and December 31, 2014
Contribution reconciliation for year ended December 31, 2013, and December 31, 2014
Draft note disclosure

4. AICPA – Example Schedule of Pension Amounts

5. Employer Level Adjustments to Plan Level Information
NPL – No adjustments
Deferred pension inflows & deferred pension outflows
Deferred inflows and outflows due to change in allocation percentage (employer’s proportion)
Deferred inflows and outflows due to difference between actual contributions and annualized contributions calculated on the schedule of employer allocations
Deferred outflows for contributions made to PERA after the measurement period
Pension expense – Adjusted for amortization of employer level deferrals

6. AICPA – Example Schedule of Employer Allocations

7. Employer’s Proportion and Proportionate Shares (continued)
PERA Approach: Employer’s Proportion is based on the current year employer’s contributions as a percentage of the division’s current year total contributions
Schedule based on accrued contributions at PERA’s measurement date (December 31st)
Contributions will be annualized, if they represent less than one year
Additional reconciliation reporting will be provided to each reporting agency

8. Contribution Reconciliation By Reporting Agency
Purpose of contribution reconciliation report
Allows employer and auditor to verify contributions used in Schedule of Employer Allocations
Contributions submitted to PERA adjusted for:
Health Care Fund allocations
Employer contribution refunds
Colorado DC Plan transfers – State Division
Contributions annualized, if necessary

9. GASB 68 and Contributions
GASB 68 has no effect on the amount you pay into Colorado PERA
Contribution rates are set by the Colorado Legislature

10. Colorado PERA Website - GASB Reporting Standards

11. PERA GASB Pension Resources
Education for finance staff and auditors
Overview video
Details series of videos – currently available
Video 1 – A New GASB Approach
Video 2 – Types of Pension Plans
Video 3 – Calculating the Collective Net Pension Liability

12. PERA GASB Pension Resources (continued)
Education for finance staff and auditors
Details series of videos – currently available
Video 4 – Measurement Date vs. Reporting Date
Video 5 – Determination of Discount Rate
Video 6 – Collective Deferrals
Video 7 – Collective Pension Expense

13. PERA GASB Pension Resources (continued)
Education for finance staff and auditors
Details series of videos – Future Videos
Employer Level Deferrals and Pension Expense
Employer’s Proportionate Share
RSI and notes to RSI
Notes
Implementation and Data Delivery

14. PERA GASB Pension Resources (continued)
Education for Governing Bodies
Fact Sheet – Currently Available -
Video – In Process
FAQ
Links to Standards, AICPA White Paper, Other

15. Get Engaged – Stay Involved
PERA – GASB Reporting Standards Web address
PERA – GASB Reporting Standards