city pension

City retirement
3:05 pm
Tue September 3, 2013

Council places pension charter amendment on ballot despite unanimous opposition to it

Cincinnati City Hall
Jay Hanselman

Cincinnati voters will decide in November if they want to amend the charter to make changes to the city's troubled pension system.  Those could include finding a way to fully fund the current plan in ten years and requiring new employees to be in 401K style plans similar to those offered by many private employers.  

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Cincinnati council
2:00 pm
Mon September 2, 2013

Cincinnati Council takes up pension charter amendment Tuesday

A Cincinnati Council Committee will likely vote Tuesday to place a charter amendment on the November ballot that would change the city's retirement.  

The committee doesn't have a choice since the group behind the effort collected enough valid signatures to get the issue before voters.  

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Local News
8:02 am
Tue August 13, 2013

Pension charter amendment headed to the ballot

A group that wants to change the pension system for city of Cincinnati employees has enough valid signatures to place a charter amendment on the November ballot, according to the Hamilton County Board of Elections.

The group, Cincinnati Pension Reform, turned in 16,116 signatures and 9,726 turned out to be valid signatures of Cincinnati voters. They needed 7,443 to make the ballot.

The group paid nearly $70,000 to a California firm that specializes in putting paid petition circulators on the ground in Cincinnati and gathered the signatures within a few weeks.

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Local News
3:36 pm
Mon June 24, 2013

Yost to city: Use parking lease payment for pensions

The draft of a letter Ohio Auditor Dave Yost apparently plans to send to Cincinnati city officials says that they should consider using the "bulk" of the $92 million in up-front money from the parking lease agreement to help bolster the city's troubled pension system.

City council recently received a report saying the unfunded liability of the pension system had grown by another $133 million last year.

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City retirement
5:00 pm
Tue June 4, 2013

Cincinnati Council gets retirement system update Monday

Cincinnati City Hall
Jay Hanselman

Update 6/5/2013 at 10:20 am:  Documents received from the city show the pension system's unfunded actuarial accrued liability as of 12/31/2012 was $862,122,656.  That compares with the unfunded actuarial accrued liability as of 12/31/2011 of $728,428,380.  That means the unfunded balance increased by more than $133 million during that time.

One section of the report states:

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