A far-reaching change to accounting rules for public employers has attorneys across the country braced for a surge of legal work. The new rules require government entities to calculate and report how much they owe for health care costs and other post-employment benefits for their present and future retirees. These rules, prompted in part by the recent demise of employee pensions among several private companies, also call for public employers to show how they will pay for those benefits.
December 08, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A far-reaching change to accounting rules for public employers has attorneys across the country braced for a surge of legal work.
The new rules, which will be phased in starting this month, require government entities — from cities to universities to school districts — to calculate and report how much they owe for health care costs and other post-employment benefits for their present and future retirees.
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