The Center for Pension Integrity has a proposed solution for a comprehensive settlement to rectify this mess, and it's a federal one. The relief would not be a bailout. Instead, it would legally allow state and local governments with plans that have funding levels below 50 percent to modify plan provisions and benefits, and ultimately freeze and terminate the troubled plans. At the same time, local taxes would be raised to fund the restructured plans completely because beneficiaries shouldn't give up benefits unless they get complete security for what is left. Because the plans would be terminated, taxpayers would be able to see their way out of this crushing problem.