First of all, the "pension crisis" we're hearing about is mostly at the state and local levels, not with the federal pensions. I wouldn't worry much about a federal pension plan defaulting. Yes, they could change the rules a bit, but my guess is that it would only apply to new hires who were processed in after the rules were changed. That's a fairly common "grandfather clause" especially with public employee pensions. And the federal reforms made with FERS seem like a much more reasonable and sustainable plan than either CSRS was or many state/local plans are.
The $64,000 question is how to handle the huge shortfalls in some badly hurting state and local public pension funds, as we've kicked around in that other thread.
"Hey, for every ten dollars, that's another hour that I have to be in the work place. That's an hour of my life. And my life is a very finite thing. I have only 'x' number of hours left before I'm dead. So how do I want to use these hours of my life? Do I want to use them just spending it on more crap and more stuff, or do I want to start getting a handle on it and using my life more intelligently?" -- Joe Dominguez (1938 - 1997)