Cincinnati Council could be voting in the next several months on proposals to stabilize the city's underfunded pension system. Some members said the action needs to happen soon, while others said the problem will not be remedied overnight.
The Budget and Finance Committee heard about the issue Tuesday.
The group trying to revamp the city of Cincinnati's pension system says it's submitted almost 16,000 signatures on petitions to put the charter amendment before voters. It needs more than 7,400 valid signatures to make November's ballot. The board of elections still needs to verify the signatures and certify the issue.
"This is a common-sense approach," said Burr Robinson with the Cincinnati for Pension Reform ballot committee. "We can't meet our pension obligations, and the problem only gets worse the longer we stick with this current structure."
Cincinnati Council is opposing a campaign to change the city's retirement system. The Cincinnati for Pension Reform Committee has been collecting signatures to put the issue on November's ballot. Council's finance committee today passed a resolution opposing the effort, saying it's not a solution to the city's unfunded pension liability.