GASB 68 Pension

The tables below present pension data that employers who participate in MPSERS need to comply with GASB 68, along with supporting data. Some of the data is intended to be included in employers' financial statements, including the Notes to Financial Statements and Required Supplemental Information (RSI).

Separate tables are provided for pension and OPEB data. The tables below are for pension. For OPEB data tables, see the Data tables tab on the GASB 75 OPEB page.

Universities and non-universities (K12, districts, intermediate school districts, charter schools/PSAs, district libraries and community colleges) have different pension liabilities and pension expense, so each employer group has its own data tables. Use the appropriate tables for your employer group.

To use these tables to obtain your data:

1. Download the tables that you need. Non-university employers will need tables N1, N2, N3, N4, and N5. University employers will need tables U1, U2, U3, U4, and U5.
2. Scroll through each table to locate your ORS Reporting Unit number (not the same as your MDE ORG number).
3. Read only your row for your data.

The sections in the tables are labeled to correspond to the sections in your Financial Statements, Notes, or RSI where you will insert the data.

As you prepare your Notes to Financial Statement and Required Supplementary Information, our sample language and templates show brackets where data from the table must be inserted. For example, where you see[Table 1, Column D] you will insert the data found in Table N1 (or U1 for university employers), Column D, in the row for your reporting unit.

Tables 3 and 4 contain detailed information regarding the recognition of inflows and outflows of resources provided in Tables 1 and 2.

Table 5 provides covered-employee payroll by employer for the measurement date (Sept. 30 of the previous year) and for the end of the school fiscal year (June 30 of the current year). 

K12 Districts, ISDs, Charter Schools/PSAs, Libraries, Community Colleges

Table N1: Schedule of Pension Amounts by Employer

Table N2: Schedule of Deferred Resources by Year by Employer

Table N3: Schedule of Recognition of Outflow (Inflow) of Resources Due to Differences Between Actual and Expected Employer Contributions

Table N4: Schedule of Recognition of Outflow (Inflow) of Resources Due to Changes in Proportionate Share

Table N5: Schedule of Covered Payroll by Employer

Universities

Table U1: Schedule of Pension Amounts by Employer

Table U2: Schedule of Deferred Resources by Year by Employer

Table U3: Schedule of Recognition of Outflow (Inflow) of Resources Due to Differences Between Actual and Expected Employer Contributions

Table U5: Schedule of Covered Payroll by Employer

Last updated: 08/04/2025

Data Tables FAQs

Notes to Financial Statements

This page offers sample language for use in the Notes to Financial Statements section required in each employer's financial statement for the employer's fiscal year ending June 30 of the current year, based on ORS data for the MPSERS plan fiscal year ending Sept. 30 of the previous year. Information that is specific to the employer is shown in bold, italics and brackets. This may be the name of the employer (for example [the employer]), information from a prior year, or data from the data tables. For example, where the sample note says [Table 1, Column C], use the number in the data tables from Table 1, Column C on your reporting unit's row.

Summary of Significant Accounting Policies

Include the following paragraph in your note disclosures under the Summary of Significant Accounting Policies heading.

Pension

For purposes of measuring the net pension liability, deferred outflows of resources and deferred inflows of resources related to pensions, and pension expense, information about the fiduciary net position of the Michigan Public School Employees Retirement System (MPSERS) and additions to/deductions from MPSERS fiduciary net position have been determined on the same basis as they are reported by MPSERS. For this purpose, benefit payments (including refunds of employee contributions) are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value.

Sample Note A – Pension Plan

Last updated: 07/10/2024

Sample Notes to Financial Statements FAQs

Financial statements for employers (reporting units) must include a section titled Required Supplemental Information (RSI). In compliance with GASB 68, this section must include the following two schedules and notes. The schedules provided below are examples only.

Both schedules are presented to illustrate the requirement to show information for 10 years. However, until a full 10-year trend is compiled, employers should present information for those years for which data is available.

Maintain these schedules from year to year, completing the current year's column and retaining the previous years' information. After a ten-year history is established, one year will drop off the schedules each year, maintaining the last ten years' historical data.

Sample Schedule of Employer's Proportionate Share of Net Pension Liability

The Schedule of Employer's Proportionate Share of Net Pension Liability requires the employer to supply specific information from Table 1 (Schedule of Pension Amounts by Employer). Information that must be supplied is shown in italics and brackets, for example, [Table 1, Column D].

Guidance for completing Schedule of Employer's Proportionate Share of Net Pension Liability:

1. Use Table N1 or U1 (Schedule of Pension Amounts by Employer) to populate rows A and B.
2. Use Table N5 or U5 (Schedule of Covered-Employee Payroll by Employer) Column BB to supply data for row C
3. Calculate row D (row C divided by row B).
4. ORS will provide row E of the schedules each year. Use the percentage that corresponds with your employer group (non-university or university).

Sample Schedule of Employer's Pension Contributions

For this schedule, each employer is responsible for supplying its own data regarding contributions. This schedule reports contributions for the employer fiscal year (July - June), not the MPSERS (plan) fiscal year. ORS cannot supply data for this schedule.

Guidance for completing the Schedule of Employer's Pension Contributions:

1. Supply information for rows A and B for each schedule. These figures should include pension contributions only (not health contributions). Note that the reporting period is July - June and includes contributions subsequent to the measurement date (Sept. 30 of the previous year).
2. Calculate row C (row A minus row B).
3. Use Table N5 or U5, Column CC to supply information for row D (covered-employee payroll). Calculate row E (B divided by D).

Note Disclosure

Include the following statements in the Notes to Required Supplementary Information section of the financial statement.

Changes of benefit terms: There were no changes of benefit terms in FY 2024.

Changes of benefit assumptions: There were no changes of benefit assumptions in FY 2024.

Last updated: 07/10/2025

Required Supplementary Information (RSI) FAQs