PERSI has provided instructions, sample footnote disclosures, and sample journal entries to help employers understand how to take the PERSI data and apply it to their financial statements. These guidelines are NOT authoritative nor designed to replace guidance from your auditor. Instead, they provide sample displays to assist with the preparation of employer financial statements, footnote disclosure, and RSI if required to report under GASB. PERSI cannot be held liable for how the employer applies the information provided by PERSI to its financial statements.
Select Your Fiscal Year End For GASB 68
GASB
This is an example of a journal entry for an employer with a September 30, 2021, fiscal year-end. If an employer has a different fiscal year-end (i.e. 8/31/21, 10/31/21, etc…) then the Deferred Outflows of Resources related to contributions subsequent to the measurement date would represent the total months of contributions after June 30, 2021, to the employers fiscal year-end.
11/09/21 – Sample JE Employers With FYE 9-30-2021 Using 6-30-2021 Measurement Date
11/09/21 – PERSI BASE PLAN Sample Footnote For Employers With a 9-30-2021 FYE Using 6-30-2021 Measurement Date
11/09/21 – GASB 68 2021 Base Plan Allocation Report
11/09/21 – GASB 68 2020 Base Plan Allocation Report
11/09/21 – PERSI 2021 Financial Statements
11/09/21 – PERSI 2021 Actuary Report
This is an example of a journal entry for an employer with a September 30, 2022, fiscal year-end. If an employer has a different fiscal year-end (i.e. 8/31/22, 10/31/22, etc…) then the Deferred Outflows of Resources related to contributions subsequent to the measurement date would represent the total months of contributions after June 30, 2022, to the employers fiscal year-end.
10/25/22 – Sample JE Employers With FYE 9-30-2022 Using 6-30-2022 Measurement Date
10/25/22 – PERSI BASE PLAN Sample Footnote For Employers With a 9-30-2022 FYE Using 6-30-2022 Measurement Date
10/25/22 – GASB 68 2022 Base Plan Allocation Report
10/25/22 – GASB 68 2021 Base Plan Allocation Report
10/25/22 – PERSI 2022 Financial Statements
10/25/22 – PERSI 2022 Actuary Report
This is an example of a journal entry for an employer with a September 30, 2023, fiscal year-end.
If an employer has a different fiscal year-end (i.e. 8/31/23, 10/31/23, etc…) then the Deferred Outflows of Resources related to contributions subsequent
to the measurement date would represent the total months of contributions after June 30, 2023, to the employers fiscal year-end.
11/08/23 – Sample JE Employers With FYE 9-30-2023 Using 6-30-2023 Measurement Date
11/08/23 – PERSI BASE PLAN Sample Footnote For Employers With a 9-30-2023 FYE Using 6-30-2023 Measurement Date
11/08/23 – GASB 68 2023 Base Plan Allocation Report
11/08/23 – GASB 68 2022 Base Plan Allocation Report
11/08/23 – PERSI 2023 Financial Statements
11/08/23 – PERSI 2023 Actuary Report
*Note FY21 Contributions for FRF were zero. FY21 Employer Proportionate Allocation equals the FY20 rate.
11/16/21 – Sample FRF JE Employers With FYE 9-30-2021 Using 6-30-2021 Measurement Date
11/16/21 – FRF Sample Footnote For Employers With 9-30-2021 FYE Using 6-30-21 Measurement Date
11/16/21 – PERSI GASB 68 2021 Allocation Report FRF
11/16/21 – PERSI GASB 68 2020 Allocation Report FRF
11/16/21 – PERSI 2021 Financial Statements
*Note Both FY22 and FY21 Contributions for FRF were zero. Both FY22 and FY21 Employer Proportionate Allocation equals the FY20 rate.
10/26/22 – Sample FRF JE Employers With FYE 9-30-2022 Using 6-30-2022 Measurement Date
10/26/22 – FRF Sample Footnote For Employers With 9-30-2022 FYE Using 6-30-22 Measurement Date
10/26/22 – PERSI GASB 68 2022 Allocation Report FRF
10/26/22 – PERSI GASB 68 2021 Allocation Report FRF
10/26/22 – PERSI 2022 Financial Statements
10/26/22 – FRF 2022 Actuary Report
*Note Both FY23 and FY22 Contributions for FRF were zero. Both FY23 and FY22 Employer Proportionate Allocation equals the FY20 rate.
11/08/23 – Sample FRF JE Employers With FYE 9-30-2023 Using 6-30-2023 Measurement Date
11/08/23 – FRF Sample Footnote For Employers With 9-30-2023 FYE Using 6-30-23 Measurement Date
11/08/23 – PERSI GASB 68 2023 Allocation Report FRF
11/08/23 – PERSI GASB 68 2022 Allocation Report FRF
11/08/23 – FRF 2023 Actuary Report
2022 – For Employers with a 6/30/2022 FYE using a 6/30/2021 Measurement Date
PERSI Base Plan
05/03/22 – Sample JE For Employers FYE 6-30-2022 Using 6-30-2021 Measurement Date
05/03/22 – PERSI BASE PLAN Sample Footnote For Employers With a 6-30-2022 FYE Using 6-30-2021 Measurement Date
05/03/22 – GASB 68 2021 Base Plan Allocation Report
05/03/22 – GASB 68 2020 Base Plan Allocation Report
05/03/22 – PERSI 2021 Financial Statements
05/03/22 – PERSI 2021 Actuary Report
The GASB 68 rules apply only to accounting and reporting. They do not apply to funding and will not be used to determine contribution requirements. The GASB 68 requirements will not change the actual pension liability; the only thing that changes is where and how pension costs are accounted for in financial statements.
2023 – For Employers with a 6/30/2023 FYE using a 6/30/2022 Measurement Date PERSI Base Plan
05/09/23 – Sample JE For Employers FYE 6-30-2023 Using 6-30-2022 Measurement Date
05/09/23 – PERSI BASE PLAN Sample Footnote For Employers With a 6-30-2023 FYE Using 6-30-2022 Measurement Date
05/09/23 – GASB 68 2022 Base Plan Allocation Report
05/09/23 – GASB 68 2021 Base Plan Allocation Report
05/09/23 – PERSI 2022 Financial Statements
05/09/23 – PERSI 2022 Actuary Report
The GASB 68 rules apply only to accounting and reporting. They do not apply to funding and will not be used to determine contribution requirements. The GASB 68 requirements will not change the actual pension liability; the only thing that changes is where and how pension costs are accounted for in financial statements.
2024 – For Employers with a 6/30/2024 FYE using a 6/30/2023 Measurement Date PERSI Base Plan
05/22/24 – Sample JE For Employers FYE 6-30-2024 Using 6-30-2023 Measurement Date
05/22/24 – PERSI BASE PLAN Sample Footnote For Employers With a 6-30-2024 FYE Using 6-30-2023 Measurement Date
05/22/24 – GASB 68 2023 Base Plan Allocation Report
05/22/24 – GASB 68 2022 Base Plan Allocation Report
05/22/24 – PERSI 2023 Financial Statements
05/22/24 – PERSI 2023 Actuary Report
The GASB 68 rules apply only to accounting and reporting. They do not apply to funding and will not be used to determine contribution requirements. The GASB 68 requirements will not change the actual pension liability; the only thing that changes where and how pension costs are accounted for in financial statements.
Select Your Fiscal Year End For GASB 75
GASB
PERSI Base Plan
04/21/21 – PERSI GASB 75 2020 Allocation Report Schools
04/21/21 – PERSI GASB 75 2019 Allocation Report Schools
04/21/21 – Sample JE For Employers FYE 6-30-2021 Using 6-30-2020 Measurement Date Schools GASB75
04/21/21 – GASB 75 Sample Footnote And RSI For Employers With a 6-30-2021 FYE Using 6-30-2020 Measurement Date
PERSI Base Plan
05/09/22 – PERSI GASB 75 2021 Allocation Report Schools
05/09/22 – PERSI GASB 75 2020 Allocation Report Schools
05/09/22 – Sample JE For Employers FYE 6-30-2022 Using 6-30-2021 Measurement Date Schools GASB75
05/09/22 – GASB 75 Sample Footnote And RSI For Employers With a 6-30-2022 FYE Using 6-30-2021 Measurement Date
* Due to the Sick Leave Rate Holiday (No Sick Leave Contributions in 2021) 2021 Allocation Rates will use the 2020 Allocation Rates
PERSI Sick Leave Plan
05/16/23 – PERSI GASB 75 2022 Allocation Report Schools
05/16/23 – PERSI GASB 75 2021 Allocation Report Schools
05/16/23 – Sample JE For Employers Using 6-30-2023 Measurement Date Schools GASB75
05/16/23 – GASB 75 Sample Footnote Using 6-30-23 Measurement Date
*Due to the Sick Leave Rate Holiday (No Sick Leave Contributions in 2022) 2022 Allocation Rates will use the 2020 Allocation Rates
PERSI Sick Leave Plan
07/19/24 – PERSI GASB 75 2023 Allocation Report Schools
07/19/24 – PERSI GASB 75 2022 Allocation Report Schools
07/19/24 – Sample JE For Employers FYE 6-30-2024 Using 6-30-2023 Measurement Date Schools GASB75
07/19/24 – GASB 75 Sample Footnote And RSI For Employers With a 6-30-24 FYE Using 6-30-23 Measurement Date
*Due to the Sick Leave Rate Holiday (No Sick Leave Contributions in 2023) 2023 Allocation Rates will use the 2020 Allocation Rates
PERSI Base Plan
04/21/21 – PERSI GASB 75 2020 Allocation Report State
04/21/21 – PERSI GASB 75 2019 Allocation Report State
04/21/21 – Sample JE For Employers FYE 6-30-2021 Using 6-30-2020 Measurement Date State GASB75
04/21/21 – GASB 75 Sample Footnote And RSI For Employers With a 6-30-2021 FYE Using 6-30-2020 Measurement Date
PERSI Base Plan
05/09/22 – PERSI GASB 75 2021 Allocation Report State
05/09/22 – PERSI GASB 75 2020 Allocation Report State
05/09/22 – Sample JE For Employers FYE 6-30-2022 Using 6-30-2021 Measurement Date State GASB75
05/09/22 – GASB 75 Sample Footnote And RSI For Employers With a 6-30-2022 FYE Using 6-30-2021 Measurement Date
* Due to the Sick Leave Rate Holiday (No Sick Leave Contributions in 2021) 2021 Allocation Rates will use the 2020 Allocation Rates
PERSI Sick Leave Plan
05/16/23 – PERSI GASB 75 2022 Allocation Report State
05/16/23 – PERSI GASB 75 2021 Allocation Report State
05/16/23 – Sample JE For Employers FYE 6-30-2023 Using 6-30-2022 Measurement Date State GASB75
05/16/23 – GASB 75 Sample Footnote and RSI For Employers With a 6-30-2023 FYE Using 6-30-22 Measurement Date
*Due to the Sick Leave Rate Holiday (No Sick Leave Contributions in 2022) 2022 Allocation Rates will use the 2020 Allocation Rates
PERSI Sick Leave Plan
07/19/24 – PERSI GASB 75 2023 Allocation Report State
07/19/24 – PERSI GASB 75 2022 Allocation Report State
07/19/24 – Sample JE For Employers FYE 6-30-2024 Using 6-30-2023 Measurement Date State GASB75
07/19/24 – GASB 75 Sample Footnote and RSI For Employers With a 6-30-2024 FYE Using 6-30-23 Measurement Date
*Due to the Sick Leave Rate Holiday (No Sick Leave Contributions in 2023) 2023 Allocation Rates will use the 2020 Allocation Rates