diff --git a/NEWS.md b/NEWS.md
index 3df72616b..5b90612b5 100644
--- a/NEWS.md
+++ b/NEWS.md
@@ -1,8 +1,6 @@
 # Items for next release
 
-* New vignette on AB testing. (#409)
-
-* `stan_jm()` gains an offset term for the longitudinal submodel. (#415, @pamelanluna)
+### Bug fixes
 
 * Fix bug where `loo()` with `k_threshold` argument specified would error if the model formula was a string instead of a formula object. (#454)
 
@@ -16,6 +14,13 @@ models fit with `stan_polr()`. (#450)
 
 * Fix bug where `stan_glmer()` would error if `prior_aux=NULL`. (#482)
 
+### New features
+
+* New vignette on AB testing. (#409)
+
+* `stan_jm()` gains an offset term for the longitudinal submodel. (#415, @pamelanluna)
+
+* Effective number of parameters are computed for K-fold CV not just LOO CV. (#462)
 
 # rstanarm 2.21.1
 
diff --git a/R/loo-kfold.R b/R/loo-kfold.R
index e1d7a1ca8..019df7646 100644
--- a/R/loo-kfold.R
+++ b/R/loo-kfold.R
@@ -263,15 +263,22 @@ kfold.stanreg <-
     elpds <- rep(NA, length(elpds_unord))
     elpds[obs_order] <- elpds_unord
     
-    pointwise <- cbind(elpd_kfold = elpds, p_kfold = NA, kfoldic = -2 * elpds)
+    # for computing effective number of parameters
+    ll_full <- log_lik(x)
+    lpds <- apply(ll_full, 2, log_mean_exp)
+    ps <- lpds - elpds
+    
+    pointwise <- cbind(elpd_kfold = elpds, p_kfold = ps, kfoldic = -2 * elpds)
     est <- colSums(pointwise)
     se_est <- sqrt(N * apply(pointwise, 2, var))
     
     out <- list(
       estimates = cbind(Estimate = est, SE = se_est),
       pointwise = pointwise,
-      elpd_kfold = est[1],
-      se_elpd_kfold = se_est[1]
+      elpd_kfold = est[["elpd_kfold"]],
+      se_elpd_kfold = se_est[["elpd_kfold"]], 
+      p_kfold = est[["p_kfold"]],
+      se_p_kfold = se_est[["p_kfold"]]
     )
     rownames(out$estimates) <- colnames(pointwise)
     
diff --git a/tests/testthat/test_loo.R b/tests/testthat/test_loo.R
index a080f3f85..9044cfc28 100644
--- a/tests/testthat/test_loo.R
+++ b/tests/testthat/test_loo.R
@@ -166,12 +166,14 @@ test_that("kfold works on some examples", {
   SW(kf <- kfold(fit_gaus, 4))
   SW(kf2 <- kfold(example_model, 2))
 
-  expect_named(kf, c("estimates", "pointwise", "elpd_kfold", "se_elpd_kfold"))
-  expect_named(kf2, c("estimates", "pointwise", "elpd_kfold", "se_elpd_kfold"))
+  expect_named(kf, c("estimates", "pointwise", "elpd_kfold", "se_elpd_kfold", "p_kfold", "se_p_kfold"))
+  expect_named(kf2, c("estimates", "pointwise", "elpd_kfold", "se_elpd_kfold", "p_kfold", "se_p_kfold"))
   expect_named(attributes(kf),  c("names", "class", "K", "dims", "model_name", "discrete", "yhash", "formula"))
   expect_named(attributes(kf2), c("names", "class", "K", "dims", "model_name", "discrete", "yhash", "formula"))
   expect_s3_class(kf, c("kfold", "loo"))
   expect_s3_class(kf2, c("kfold", "loo"))
+  expect_false(is.na(kf$p_kfold))
+  expect_false(is.na(kf2$p_kfold))
 
   SW(kf <- kfold(fit_gaus, K = 2, save_fits = TRUE))