Unfortunately, a lot of pension funds are behind so the started taking more risk. Frontline did a good piece called "The Pension Gamble" on this: https://www.pbs.org/wgbh/frontline/film/the-pension-gamble/
The whole idea of a "defined benefit" pension seems insane to me. It's essentially a promise that some entity will still exist and be solvent in 40+ years (start teaching around 22, retire around 65...)