Public employers facing GASB 45 accounting rules can learn important lessons from small and large U.S. corporations, considering that private companies became subject to similar requirements under FAS 106 beginning in 1993. Public employers can also choose from new approaches that include consumer-directed health plans, Medicare Advantage, and defined contribution plans.

Reproduced with permission from the "Benefits & Compensation Digest" volume 44 number 3, March 2007, pages 18-21, published by the International Foundation of Employee Benefit Plans (www.ifebp.org), Brookfield, Wis. All rights reserved. Statements or opinions expressed in this article are those of the author and do not necessarily represent the views or positions of the International Foundation, its officers, directors or staff. No further transmission or electronic distribution of this material is permitted.