Defined-benefit pensions are economically bankrupt when lifespan keeps increasing. This has been known for decades[1] and is the reason why none of us reading this have a DB pension, except those lucky few state employees who got a sweetheart deal all those years ago.

Of course, the fact these pensions were managed by state government (read: mismanaged) only accelerated the inevitable crisis.

[1] https://www.investopedia.com/articles/retirement/10/demise-d...