Since 2006 municipalities have had to recognize, on an accrual basis instead of pay-as-you-go basis, the unfunded liabilities and expense for their retiree health care subsidies. GASB 43/45 prescribe the calculation options and disclosure formats available to employers for making the appropriate accounting entries.

Nyhart’s experience with over 200 municipalities across 28 states has made us of one the largest actuarial firms specializing in GASB 43/45 disclosures. Our clients have asked Nyhart to help with such issues as:

• Inform and educate their elected officials and managers on the requirements of GASB 43/45,
• Identify and evaluate plan design, funding and contribution changes to help manage the growth in their OPEB liabilities,
• Design early retirement incentive plans as part of a broader reduction in force option,
• Model and formulate prefunding or trust-based solutions,
• Compare the financial impact of changing to Medicare Advantage or PDP standalone plans,
• Keep their financial statements in compliance with GASB 43/45 standards and
• Act on their behalf with union negations or issue resolution with outside auditors

For many municipalities, their need for GASB actuarial services is limited to just providing a certified report with the required disclosures.  For these clients, Nyhart’s automated tools and processes produce a quality and timely product that meets this need.

Why Nyhart?

Our clients regularly recognize us for the level of service we provide, our clear and unbiased advice, attention to detail, and reliability of our calculation. We are extremely client-driven.

Dedicated teams, direct access

Each client at Nyhart has a dedicated team of actuaries. We provide you direct access to your team so your questions and issues can be handled confidentially by a team who knows your plan and can immediately help you resolve your issues.

Ask Nyhart

Do you have a GASB 43/45 actuarial question or are interested in learning more about Nyhart’s services  Please call us at (317) 845-3500 or email us at connect@nyhart.com today and we will be in touch quickly. We want to earn your trust.