Audit Resources

The Governmental Accounting Standards Board (GASB) requires public employers to provide detailed disclosures of pension information in financial statements. Key standards include:

• GASB 68: Requires detailed disclosures of pension information in financial statements and accompanying information
• GASB 75: Establishes standards for disclosure of postemployment benefits other than pension benefits (OPEB) by all state and local government employers

SERS provides employers with the resources needed to fulfill these requirements, including allocation reports, disclosure information, and supporting documentation for each fiscal year.

The following GASB resources are available to employers:

• GASB FAQs from the Ohio Auditor
• GASB 68 Reporting Requirements
• GASB Pronouncements
• Auditor of State Bulletin 2018-2 (GASB 75)

Annual reports available include GASB Statement No. 74 Reports, GASB Statement No. 75 Reports and Allocation Reports, GASB Statement No. 67 Reports, GASB Statement No. 68 Reports and Allocation Reports, and SERS Annual Comprehensive Financial Reports. Reports are available for fiscal years 2012 through 2024.

*An error was discovered on page 60 of this report. The second table referring to the sensitivity of the net OPEB liability to changes in the health care cost trend rate displays incorrect percentages. • The current trend rate should read 6.75% decreasing to 4.40%. • The 1% decrease should read 5.75% decreasing to 3.40%. • The 1% increase should read 7.75% decreasing to 5.40%. The net OPEB liability calculated amounts are correct; this is a correction to text only.

Surcharge Minimum Compensation Amounts:

Employer Contribution Allocation (% of Payroll):

The Annual Comprehensive Financial Report contains detailed information about SERS’ financial operations, including our stewardship of the funds entrusted to us, and our compliance with all of the legal requirements placed on us by the state. The Annual Comprehensive Financial Report details major initiatives and highlights, investments, and funding for the period from July 1 to June 30.

The Summary Annual Financial Report (SAFR) is an overview of the financial health, investment performance, demographics, and key accomplishments of the last fiscal year. All of the financial information summarized in this publication can be found in more detail in our Annual Comprehensive Financial Report.