City retirement

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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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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Cincinnati pension
5:03 pm
Tue January 21, 2014

Cincinnati pension reform votes could be coming soon

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. 

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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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