This week’s blog is a two for one special. GASB has issued two niche exposure drafts. The first is the 20XX Omnibus that addresses a variety of very specific technical issues and corrections. The second addresses the scope of pension guidance with respect to Section 457 plans. Prior guidance had scoped Section 457 plans out of pension guidance, but due to changes in the tax code and some plans now being contributory by the employer in nature, employers will have to evaluate whether the plan meets the definition of a pension. If it does, the plan would be subject to pension accounting and reporting guidance. Comments are due the October 4th for the Omnibus and September 27th for the Section 457 plans.