I suggest: if we really expect government to bail out pensions- ( and realize, I'm for small or no government involvement)- have government completely take over every single pension in the USA. Private, Public, Multi or Single employer. Fire every trustee and manager and make a Dept of Pensions Cabinet position. Make every entity that Was paying in, pay to that board, and make one and only one payout rate, equal to the average of those combined pensions for their 20 yr rate. That means Some will get raises, some will get cuts. But it's the only way for pensions to survive, imo.
In reality I expect Congress to do nothing... it's not their job to bail us out.