Iowa Admin. Code r. 199-16.9

Current through Regsiter Vol. 46, No. 26, June 12, 2024

Rule 199-16.9 - Postemployment benefits other than pensions

(1) Accrual accounting for postemployment benefits other than pensions in accordance with Statement of Financial Accounting Standard No. 106 (SFAS 106) will be permitted where:

a. The accrued postemployment benefit obligations have been funded in a segregated and restricted account or alternative arrangements have been approved by the board.

b. The net periodic postemployment benefit cost and accumulated postemployment benefit obligations have been determined by an actuarial study completed in accordance with the specific methods required and outlined by SFAS 106.

c. The transition obligation is amortized in accordance with SFAS 106.

(2) The requirements of this rule do not apply to a local exchange utility regulated by the board if the utility accounts for its postemployment benefits other than pensions in a manner consistent with the regulations of the Federal Communications Commission.

Iowa Admin. Code r. 199-16.9