The Pension Crisis - no stomach for change?

According to multiple sources including The Civic Federation and Illinois Policy, 40 percent of Chicago's total budget goes towards pension repayments. In an era where homeowners are getting squeezed by property taxes and business like Boeing leave to find a lower tax environment, why isn't there a bigger push for change?

I realize Chicago can't turn it's back on it's obligations but why not move new city employees to a 401(k)-style plan instead of a traditional pension system?! Yes it may take 25-30 years for the problem to work itself out, but at least there would be a light at the end of the rainbow.

I'm happy to hear your thoughts on the matter! Thanks!

Sources:

The Civic Federation. City of Chicago FY2024 Proposed Budget: Analysis and Recommendations. 1 Nov. 2023, https://civicfed.org/ChicagoFY2024

Illinois Policy Institute. "$4.9B in Pension, Debt Costs Squeeze Essentials from Chicago 2024 Budget." Illinois Policy, 13 Oct. 2023, https://www.illinoispolicy.org/4-9b-in-pension-debt-costs-squeeze-essentials-from-chicago-2024-budget/.