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New Pension Reporting <br />GASB 67 and 68 <br />•New pension reporting requires governments <br />providing defined benefit pensions to: <br />1.Recognize long-term obligation as liabilities <br />on balance sheet for the first time <br />2.Measure annual pension benefit costs more <br />comprehensively and comparably <br />3.Enhance pension plans disclosures and <br />required supplementary information <br />•GASB 67 implementation in 2013-14 <br />•GASB 68 implementation in 2014-15 <br />4