Cincinnati retirement system

City retirement
6:50 am
Tue June 11, 2013

Cincinnati retirement system not healthy

Cincinnati City Hall
Jay Hanselman

Cincinnati officials are again looking for solutions after another bad report on the city's retirement system.  It added another $133 million to its unfunded liability last year.  

Council's Budget and Finance Committee heard the presentation Monday.

One Council Member asked if the city can invest its way out of trouble.

Eric Gary, an actuary with Cavanaugh MacDonald, said maybe.

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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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City retirement
8:32 pm
Wed March 27, 2013

Special Council session on city's pension system

Provided

Cincinnati Council held another special meeting Wednesday night to discuss the city's troubled pension system. 


Like many plans around the country it has a large unfunded liability, meaning without changes eventually there won't be enough money to pay promised retiree benefits. 


Council Members Charlie Winburn and Christopher Smitherman called the meeting. 

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Cincinnati retirement
8:04 pm
Wed February 20, 2013

Special meeting yields little new information on Cincinnati retirement system

Jay Hanselman

Preliminary numbers show Cincinnati's Retirement System had an 11.9 percent return on its investments for 2012.  That's better than the 7.5 percent officials had projected. 

That's about the only new information that came from a special city council meeting Wednesday night to discuss the retirement system. 

Council Members Christopher Smitherman and Charlie Winburn called the session. 

Smitherman was upset by who was not at the meeting...

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