Chicago’s pension crisis — its four funds’ average funding ratio is only 26 percent — is one reason this editorial board endorses former U.S. Commerce Secretary Bill Daley for mayor. He is the only leading candidate who supports loosening the Illinois Constitution’s overly rigorous pension clause. Amending that clause would allow the legislature to protect benefits already earned but modify benefits going forward. The next mayor, Gov. J.B. Pritzker and future legislatures need to take drastic steps to stabilize state and local pension systems, and protect rank-and-file taxpayers. The alternative is to let the crisis intensify indefinitely — to lock future generations into paying pension debts incurred in the past and present.