June 20, 2019
PSAB Decision Summary – June 20-21, 2019
PSAB received an update on the Employment Benefits project and provided feedback on the Task Force’s work on key issues covered in the Invitations to Comment:
PSAB also considered the nature and scope of the project’s next due process document, based on stakeholders’ feedback. The Board agreed that an exposure draft would provide stakeholders with a complete picture of the proposed standard, including application guidance and illustrative examples.
PSAB will be provided with an update on key issues covered in the Invitation to Comment, “Employment Benefits: Non-Traditional Pension Plans” issued in October 2018, at its September 2019 meeting.
September 27, 2018
PSAB Decision Summary – September 27-28, 2018
The Board approved the Invitation to Comment, “Employment Benefits: Non-traditional Pension Plans.”
Non-traditional pension plans are plans that involve employers sharing different degrees of risk related to pension benefits with other parties, including employees and other employers.
The accounting principles and guidance explored in the document may have significant effect on the accrued benefit obligation reported by public sector entities.
The Board expects to issue the document in October 2018, along with In Brief, a plain and simple overview of the document. On November 16, 2018, Task Force members will present a webinar about the document’s key features.
June 21, 2018
PSAB Decision Summary – June 21-22, 2018
The Board received a presentation from the Task Force Chair on the approach, structure and content of the invitation to comment on non-traditional plans. The Board provided feedback to the Task Force. The Board expects to approve the invitation to comment at its September 2018 meeting.
March 22, 2018
PSAB Decision Summary – March 22-23, 2018
The Board received an update on the project from the Task Force Chair and discussed the scope of the invitation to comment on non-traditional plans. The Board will receive an update on the invitation to comment’s development at its June 2018 meeting.
September 21, 2017
PSAB Decision Summary – September 21-22, 2017
The Board approved the Invitation to Comment, “Employment Benefits: Discount Rate Guidance in Section PS 3250.”
A key objective of issuing this invitation to comment is to seek stakeholder input prior to PSAB establishing its own preliminary views on the issues. The Board expects to issue the document in November 2017.
June 22, 2017
PSAB Decision Summary – June 22-23, 2017
The Board received a project update from the task force and provided input into the invitation to comment for discount rates.
The Board also provided input on options to streamline the process of this project.
March 16, 2017
PSAB Decision Summary – March 16-17, 2017
PSAB received an update about the project and reviewed a project plan. PSAB discussed if the process can be streamlined and requested staff to provide options and related risks for its consideration for the June 2017 PSAB meeting.
September 26, 2016
PSAB Decision Summary – September 26-27, 2016
PSAB approved the Invitation to Comment, “Employment Benefits: Deferral Provisions in Sections PS 3250 and PS 3255.” The document is expected to be issued in the fall of 2016.
June 16, 2016
PSAB Decision Summary – June 16-17, 2016
PSAB received an update on the project, including consideration of the approach to an invitation to comment, and provided feedback to the task force.
Volunteer Opportunity – Employment Benefits Task Force
December 23, 2014. PSAB is currently seeking members for its Employment Benefits Task Force. If you are interested, please submit a resumé by February 16, 2015.
December 15, 2014
PSAB Decision Summary – December 15-16, 2014
PSAB approved an Employment Benefits project. The objective is to review Section PS 3250, Retirement Benefits, and Section PS 3255, Post-employment Benefits, Compensated Absences and Termination Benefits. Key issues include, but are not limited to, deferral of experience gains and losses, discount rate, shared risk plans, multi-employer defined benefit plans and vested sick leave benefits.