FASB ASC 715-60 is the accounting standard for other post employment benefits (OPEB) including post retirement healthcare. The Financial Accounting Standards Board issued this accounting standard to define how the expense and liability for post retirement healthcare and other non-pension benefits must be recorded for financial statement purposes. The FASB ASC 715-60 standard requires the cost of post retirement healthcare benefits to be accrued generally over the employee’s working lifetime.
The following documents are for historical reference only as FAS 106 has been superseded by FASB ASC 715-60. Summary and Comments by J. Richard Hogue, F.S.A. is a paragraph by paragraph analysis of SFAS 106. Our firm has over 30 years of experience in the OPEB healthcare field, including FASB ASC 715-60 actuarial consulting.