Cincinnati retirement system

Cincinnati government
12:08 pm
Thu March 27, 2014

Cranley on manager search, pension and DOJ forum

Jay Hanselman

Cincinnati Mayor John Cranley has now selected a firm to lead the search for the next city manager.  He said during his weekly press briefing Thursday he met with about seven companies before hiring California-based Ralph Anderson and Associates.  

He said a representative of the search firm will be in town next week to meet with city council members.  

“And help build out a profile for the search,” Cranley said.  “He intends to be out there pounding the pavement looking for candidates at the end of next week or the week after.”

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City retirement
5:32 pm
Mon March 17, 2014

Cincy Council ready to support federal mediation for pension issue

Jay Hanselman

Cincinnati Council is ready to endorse a process that would let a federal court mediate a solution to the city's underfunded pension problem.  The Budget and Finance Committee voted unanimously Monday for an ordinance to make that happen.  

The ordinance would let the city manager negotiate a settlement agreement with various parties on a long-term solution to the pension issue.  Right now the retirement system is only 61 percent funded and that will only get worse without some action soon.  

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City retirement
4:00 am
Mon March 17, 2014

Cincinnati Council to discuss pension mediation Monday

Cincinnati Council's Budget and Finance Committee holds a public hearing Monday on a plan to let a federal judge mediate a solution to the city's pension crisis.  

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City retirement
3:57 pm
Tue March 11, 2014

Federal Judge could oversee a solution to Cincinnati's pension mess

Jay Hanselman

Cincinnati Council could vote next week on an ordinance that would essentially let a federal court mediate a permanent solution to fix the city's currently under-funded pension system.  

Mayor John Cranley introduced the idea Tuesday during a city hall press conference.  

One item up for negotiation could be the compound cost of living adjustments some city retirees now enjoy.  Changing that has been a thorny issue.

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Cincinnati pension
8:18 pm
Tue February 18, 2014

New proposal to fix Cincinnati's pension system

A Cincinnati Council member said he had a plan to put the city's retirement system on a path of solvency.  Christopher Smitherman introduced his motion Tuesday during a council committee meeting.

One of his proposals is to end the three percent compound cost-of-living adjustments given to most retirees each year.  Smitherman would change that to a simple COLA tied to the consumer price index and not exceeding two percent per year.  Those adjustments would also be suspended for three years if his plan is approved.

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