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NASSAU BOCES DESIGNATES CHERNOFF DIAMOND AN "AWARDED" GASB 45 FIRM

LongIsland.com

The Garden City, NY-based benefits and risk management firm, Chernoff Diamond & Co., LLC, is pleased to announce its selection as an "awarded" firm for purposes of GASB 45 (Governmental Accounting Standards Board) Actuarial Services ...

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The Garden City, NY-based benefits and risk management firm, Chernoff Diamond & Co., LLC, is pleased to announce its selection as an "awarded" firm for purposes of GASB 45 (Governmental Accounting Standards Board) Actuarial Services for Nassau BOCES. As such, discounted fees agreed through Nassau BOCES can be immediately passed along to participating school districts and other political entities.

Chernoff Diamond, the only awarded firm headquartered in Nassau County, has extensive GASB 45 experience. Its actuaries and consultants have been preparing post-retirement healthcare valuations and advising on post-retirement healthcare matters to the private sector for over 25 years and for the public sector since the inception of GASB 45 in 2004. In addition, with over 40 healthcare consultants and specialists, Chernoff Diamond has the largest healthcare practice on Long Island. The firm's state-of-the-art media room is capable of hosting a 75 person seminar. Topics of interest to school districts and their advisors will be announced shortly.

For additional information, contact Robert Abzug, A.S.A., EA, F.C.A., M.A.A.A. (rabzug@chernoffdiamond / 516.247.3425) or Steven Marcus, A.S.A., EA, F.C.A., M.A.A.A. (smarcus@chernoffdiamond / 516.247.3402).

MORE ABOUT CHERNOFF DIAMOND
Chernoff Diamond is a nationally recognized benefits and risk management advisory firm providing in-depth services to meet the many complex and interrelated challenges faced by today's business and professional clients. The firm's competitive advantage is marked by its proprietary and customized products, along with outstanding technological and human capital.

Chernoff Diamond delivers the expertise, perspective and services to design, implement and administer employee benefit plans, pension, profit sharing and 401(k) plans, programs of executive and deferred compensation and sophisticated life insurance plans. The firm's senior consulting actuaries, advanced underwriters and corporate benefits consultants are innovative leaders, providing business-smart advice. Chernoff Diamond has earned the well-deserved reputation of delivering large firm expertise with the responsiveness and efficiency of a boutique.

[GASB 45 statements are for public employers. They require governmental entities to recognize the cost of OPEBs (Other Post-Employment Benefits) when they are earned (while employees are working), rather than when they are paid (after employees retire).]

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