The Government Accounting Standards Board (GASB) was scheduled to begin reviewing comments on possible changes in its pension accounting and actuarial standards at a hearing Aug. 26 at its offices in Norwalk, Conn. Specific questions being considered by GASB include:

Should the projection of pension benefits include or exclude projected future changes for automatic COLAs, and projected ad hoc COLAs when they "are substantively a part of the employment agreement, as demonstrated by an employer's pattern of practice?"

What should be the basis for determining the discount rate used for discounting projected pension benefits to the present value for accounting purposes?

What should be the maximum amortization period or periods permitted for accounting and financial reporting purposes to determine an employer's pension obligation and expense?

Should different maximum amortization periods be set for different types of changes to the unfunded accrued benefit obligation?

GASB originally announced its planned approach to reviewing pension accounting standards in March. That announcement is available by following this link.