retirement http://wmub.org en New proposal to fix Cincinnati's pension system http://wmub.org/post/new-proposal-fix-cincinnatis-pension-system <p>A Cincinnati Council member said he had a plan to put the city's retirement system on a path of solvency.&nbsp; Christopher Smitherman introduced his motion Tuesday during a council committee meeting.</p><p>One of his proposals is to end the three percent compound cost-of-living adjustments given to most retirees each year.&nbsp; Smitherman would change that to a simple COLA tied to the consumer price index and not exceeding two percent per year.&nbsp; Those adjustments would also be suspended for three years if his plan is approved.</p> Wed, 19 Feb 2014 01:18:43 +0000 Jay Hanselman 23275 at http://wmub.org Retirement Investing http://wmub.org/post/retirement-investing <p><span style="line-height: 1.5;">&nbsp;&nbsp;</span>Financial experts recommend you start saving for retirement as soon as you can afford it, ideally with your first paycheck. But few do, and many of us are into our fifties before we realize we need to get serious about saving and investing for what we hope will be our golden years. <a href="https://www.fosterandmotley.com/" target="_blank">Foster and Motley</a> Financial Planner David Foster and local Financial Advisor Christ DeSimio shed some light on investing for your retirement.</p> Wed, 06 Nov 2013 11:30:10 +0000 Mark Heyne 19181 at http://wmub.org Retirement Investing Council places pension charter amendment on ballot despite unanimous opposition to it http://wmub.org/post/council-places-pension-charter-amendment-ballot-despite-unanimous-opposition-it <p>Cincinnati voters will decide in November if they<a href="http://city-egov.cincinnati-oh.gov/Webtop/ws/council/public/child/Blob/38473.pdf?rpp=-10&amp;m=2&amp;w=doc_no%3D%27201301158%27"> want to amend the charter to make changes to the city's troubled pension system</a>.&nbsp; 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. &nbsp;<br> Tue, 03 Sep 2013 19:05:09 +0000 Jay Hanselman 16896 at http://wmub.org Council places pension charter amendment on ballot despite unanimous opposition to it Cincinnati Council takes up pension charter amendment Tuesday http://wmub.org/post/cincinnati-council-takes-pension-charter-amendment-tuesday <p>A Cincinnati Council Committee will likely vote Tuesday to place a charter amendment on the November ballot that would change the city's retirement. &nbsp;<br><br>The committee doesn't have a choice since the group behind the effort collected enough valid signatures to get the issue before voters. &nbsp;<br> Mon, 02 Sep 2013 18:00:00 +0000 Jay Hanselman 16764 at http://wmub.org Cincinnati retirement system not healthy http://wmub.org/post/cincinnati-retirement-system-not-healthy <p>Cincinnati officials are again looking for solutions after another bad report on the city's retirement system.&nbsp; It added another $133 million to its unfunded liability last year. &nbsp;<br><br>Council's Budget and Finance Committee heard the presentation Monday.<br><br>One Council Member asked if the city can invest its way out of trouble.<br><br>Eric Gary, an actuary with Cavanaugh MacDonald, said maybe.<br> Tue, 11 Jun 2013 10:50:11 +0000 Jay Hanselman 13650 at http://wmub.org Cincinnati retirement system not healthy