Underlying your pension are investments, typically in the markets. So the question is, what hit will the pension fund take, and will they survive to meet their obligation. I am not trying to scare you, but you may want to do some research on who is running it. Unless it is with Uncle-Sugar....
It's a New York State pension. I do know they had money invested in AIG, and probably lost more with other investments since the bailout bill, and the ensuing fall of the market.