GASB Statements No. 74 and 75 have substantially revised the valuation and accounting requirements previously mandated under GASB Statements No. 43 and 45. With implementation required for plan fiscal years beginning after June 15, 2016, for GASB 74 and June 15, 2017, for GASB 75, the time is now for government entities to understand and comply with the new requirements. This article reviews the Alternative Measurement Method, which is used by small government employers in lieu of an actuarial valuation, and discusses the important changes relevant to small government employers as GASB 74/75 takes effect.