'Fixing' our public pension challenges will not be easy. Any politician with a badly underfunded pension plan will eventually have to deal with potentially wrenching structural changes - we cannot simply 'collect more money.'
I don't envy the politicians facing this issue - it will take great courage and leadership, and may well cost those who show it their careers. But it's increasingly clear that sort of reform is what's required. Mayor Lori Lightfoot of Chicago has taken on the challenge and publicly accepted the risk. She is the first political leader I've seen talk about it so openly. This article is worth a quick read to see how she's taking it on.
“Yes, there are tough solutions. Yes, there are tough choices that have to be made. Yes, they involve putting ourselves at political risk. But I ran for change. I didn’t run to perpetuate myself in elected office forever. And if it means that I will sacrifice myself politically, so be it. But we must do this now.”