Indiana's management of its long-term pension liability is cause for serious concern and needs to improve how it handles its retiree health care and other benefit obligations. The state has funded only 70 percent of its total pension bill—well below the 80 percent benchmark that the U.S. Government Accountability Office says is preferred by experts—and the total unfunded pension liability is $10.5 billion. The Indiana State Teachers' Retirement Fund is responsible for much of the state's funding shortfall, covering only 48 percent of its $18.75 billion obligation. Although Indiana has very limited long-term retiree health care and other benefit liabilities, with a $442.3 million bill coming due, it—like 19 other states—has failed to sock away any money to cover these costs.