Skip to Content

Office of the New York State Comptroller’s Seal

NYS Comptroller

Thomas P. DiNapoli

Governmental Accounting Standards Board (GASB)


For additional terms and descriptions, please refer to the original documents about GASB Statement No. 67 Adobe pdf and GASB Statement No. 68 Adobe pdf located on our Links & Resources page.

Deferred Inflows of Resources
An acquisition of net assets by the government that is applicable to a future reporting period; has a negative effect on net position, similar to liabilities.
Deferred Outflows of Resources
A consumption of net assets by the government that is applicable to a future reporting period; has a positive effect on net position, similar to assets.
Discount Rate
Per Governmental Accounting Standards Board (GASB) Statement No. 67, a blended or single rate (expressed as a percentage) that reflects (1) the long-term expected rate of return on pension plan investments to the extent (a) this rate will support projected benefit payments of the plan, and, (b) assets will be invested using the current allocation target to achieve that return, and (2) for the period of benefit payments not supported, will incorporate an index rate for 20-year-tax-exempt municipal bonds. New York State and Local Retirement System (NYSLRS) can use the long-term expected rate of return on pension investments assumption of 7.5% as the single discount rate throughout for GASB purposes.
Employer’s Proportion
A measure of the proportionate relationship of an employer of a cost-sharing pension plan like NYSLRS to all employers of the plan.
Measurement Date
The date that the Net Pension Liability is measured. For NYSLRS the measurement date is March 31 annually.
Net Pension Liability (NPL)
The difference between the Total Pension Liability of the Plan and the Pension Plan’s Fiduciary Net Position.
Pension Expense
Changes in NYSLRS’s Net Pension Liability, recognized in the current reporting period. There are some exceptions that include changes due to differences between expected and actual experience, changes in economic and demographic assumptions, and the difference between projected and actual earnings on pension plan investments.
Pension Plan’s Fiduciary Net Position
NYSLRS plan net assets at fair value.
Proportionate Shares
Measures of the collective Net Pension Liability, collective Pension Expense and other disclosure items of the plan related to pensions — attributable to a specific employer, based on the Employer’s Proportion.
Total Pension Liability (TPL)
The Actuarial present value of projected benefit payments that is attributed to past periods of member service, similar to current Actuarial Accrued Liability (AAL), determined under the Entry Age Actuarial Cost Method.

(Rev. 7/16)

(Return to Top)