There are many fixes. The employees at a company I used to work for funded their own pension, with company contributions up to some thousands a year per person.
The plan was fully funded, too...meaning that it would never run out of money.
The plan was fully funded, too...meaning that it would never run out of money.
Further, as cities employees (often unions) negotiated better payments and a lower retirement age - because, it's all later! - the gap got bigger and bigger.