This is only the tip of the iceberg. Most of the union pension funds are underfunded or broke. Between the outright theft and fraud, totally incompetent management, and outrageous over-promising, this just the first in line. Europe is even worse. Looks like we are going to need a war to wipe all of this debt out.
PS ... the COVID kill off underperformed in the requirement to kill off a huge number of pensioners although they are still persisting with booster shots.