48 pages. "Reported unfunded liabilities for these plans are estimated in the hundreds of billions of dollars.... Plans have devised various approaches to attempt to address governance, investment, and funding challenges. These include pooling assets to pursue lower fees and higher quality managers, consolidating the governance structures of multiple plans to improve accountability and transparency, and issuing pension obligation bonds to overcome funding shortfalls." [GAO-10-754, published Aug. 20, 2010, released Sept. 20, 2010]