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.
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.