GASB Statements

Government Accounting Standards Board (GASB) report.

For the purpose of satisfying the requirements of the Government Accounting Standards Board (GASB) Statements No. 67 and 68, Stone Consulting, Inc. has prepared a set of illustrative tables and other Required Supplementary Information (RSI) based on the January 1, 2016 actuarial valuation of the Weymouth Retirement System performed by Stone Consulting, Inc. The valuation and this report were prepared using generally accepted actuarial principles and practices and meet the parameters set by the Governmental Accounting Standards Board (GASB).

For GASB 67 the results are as of a valuation date of January 1, 2016 and a reporting date of December 31, 2017. For GASB 68 the results are as of a valuation date of January 1, 2016, a measurement date of December 31, 2017 and a reporting date of June 30, 2018. To the best of our knowledge, this report is complete and accurate, and the assumptions used represent our best estimate of anticipated experience of the system. The methods, assumptions, and plan provisions used to prepare these exhibits are consistent with those used in the funding valuation, and are outlined in the January 1, 2016 funding valuation report unless otherwise stated in this report.