20 pages. 'The reasons the GASB concluded that the effectiveness of the pension standards could be significantly improved include: [1] Changes in governmental accounting and financial reporting since the existing pension standards were issued in 1994, most notably the introduction of accrual-based government-wide financial statements; [2] An increasing need among the users of governmental financial reports for comparable information about pensions; [3] The continuing development of the basic concepts that are the foundation of the GASB's standards setting, especially the concepts regarding what constitutes a liability and an outflow of resources. The proposals are made in two Exposure Drafts[.]