What is meant by reporting by Plan in the context of OPEB?

In the context of Other Post-Employment Benefits (OPEB), "reporting by Plan" refers to the need for consistency in evaluating and reporting the financial status of OPEB plans across different employers. This approach allows stakeholders to have a clearer understanding of the obligations and financial health of the OPEB plans, as these plans can vary widely in their structure and funding.

By ensuring that all employers report their OPEB information in a consistent manner, it facilitates comparability and helps users of financial statements to better assess the resources allocated for post-employment benefits. This consistency is crucial for understanding the overall liability that these plans may represent and for making informed decisions regarding benefits and funding.

In this context, each employer's individual circumstances regarding OPEB may differ, but consistent reporting standards allow for more accurate benchmarking and an aggregate understanding of OPEB liabilities. The focus on uniformity across the reporting process strengthens the reliability of financial statements that include OPEB information, making it easier for users to interpret and analyze the implications for future financial planning and budgeting.