The GASB's New Pension Accounting and Reporting Satndards.

The article offers information on new standards of accounting and reporting which has been approved by the U.S. Governmental Accounting Standards Board (GASB) for pensions provided by state and local governments. It is mentioned that these approved standards of GASB bring changes in accounting and financial reporting of the pension. It also discusses the several types of pension plans and employers including Single-employer plans, agent multiple-employer plans and agent multiple- employer plan.