They participate because they are negotiable or transferable, or their redemption value considers market rates. This statement provides guidance for applying fair values to certain investment transactions for defined benefit pension plans and 457 deferred compensation plans. Guidance is given for reporting the fair value of investments in open-end mutual funds and external investment pools. This Statement applies to all school districts. The provisions of this Statement are effective for periods beginning after June 15, 1997.
Early implementation is encouraged.