Problems are never easy to address.  Politicians are usually the least qualitied to take on real serious problems because of the campaign contribution system that make them beholding to one group or another.  Politicians are bought and always re-elected.  That I can live with.  Now, let there come a day like in 2008 when the stock market bubble bursts and the system will be all but done with.  Cannot make up losses after taking a haircut.  The markets are not predictable except for the fact that they do and will correct.  One bad year can take 10 years to recover.  One bad quarter can take years to recover and the holding of the fund can take a serious beating.  The game is catch up.... the system cannot get into the black.  Losses mount and payout to beneficiaries get greater as people live longer.  All retirement systems will ultimately fail. If the State cuts back on workforce then contribution are lessened.  State grows its workforce then demands of beneficiaries increase.  No win.