Which statement about GASB's pension accounting standards is accurate?

• A. GASB establishes standards for recognizing pension liabilities, measuring pension costs, and disclosing net pension obligations.
• B. GASB sets pension funding targets for districts.
• C. GASB oversees health insurance enrollment for retirees.
• D. GASB negotiates pension contracts.

Answer: (C)

GASB's role is to establish accounting and financial reporting standards for state and local governments, including how to recognize pension liabilities, measure pension costs, and disclose net pension obligations in financial statements. This ensures transparent and comparable reporting across governments.

The other activities listed fall outside GASB's scope: setting pension funding targets is a policy or actuarial decision rather than an accounting standard; overseeing health insurance enrollment for retirees concerns benefits administration, not pension accounting; and negotiating pension contracts is a labor or contractual matter handled between employers and employees or their representatives, not by GASB.