Like many states, Minnesota has incurred large budget deficits during the past two years. Those deficits have, in turn, led to changes in a number of areas of state government, particularly higher education. Faculty have incurred pay freezes and layoffs, programs have closed, and tuition increased. Campuses within the MnSCU system have been…

The Governmental Accounting Standards Board has released three exposure drafts addressing the proper accounting and financial reporting for pensions. If approved, the new guidance would affect both pension plans and employers offering pension benefits to their employees. (Author)