CHICAGO — As the Governmental Accounting Standards Board prepares to vote on new standards for public pension fund accounting that would shed light on unfunded liabilities, a recently formed state and local task force is developing guidance to keep governments focused on their annual required contributions.

GASB “made a break and it has been referred to as a 'divorce’ between funding and accounting for pension costs,” Pat Robertson, executive director of Mississippi’s public employees’ retirement system, told attendees Monday at the Government Finance Officers Association annual conference here.

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