Iowa lawmakers are continuing to keep a close eye on IPERS, the state pension system. IPERS was the subject of a legislative committee hearing Monday, where the pension's long-term unfunded liability was of concern to lawmakers. Those unfunded liabilities come out to around $7 billion. The hearing comes just a week after two Democrats said last year's changes to the state's collective bargaining law should serve as a wakeup call to everybody involved in the pension system.