To bend the curve, he wants to limit the cost of living adjustments or COLAs and, more significantly, require that these COLAS only kick in at the social security full-retirement age, which can begin at the age of 65.
Because of the rough nature of their work, firefighters and police officers can now retire with these benefits at the age of 50.
Not surprisingly, there is strong opposition to the bill.
This may be one of the few times the head of the police union, Kris Baumann, and MPD Police Chief Cathy Lanier are on the same page.
"It's gonna kill our ability to recruit and retain officers," says Baumann.
"You know our goal is public safety and I just think it's going to impact public safety if it goes through the way it is," says Lanier.
Baumann says the pension fund is fully funded and a conservative plan compared to many states.