pension system

City retirement
3:57 pm
Tue March 11, 2014

Federal Judge could oversee a solution to Cincinnati's pension mess

Jay Hanselman

Cincinnati Council could vote next week on an ordinance that would essentially let a federal court mediate a permanent solution to fix the city's currently under-funded pension system.  

Mayor John Cranley introduced the idea Tuesday during a city hall press conference.  

One item up for negotiation could be the compound cost of living adjustments some city retirees now enjoy.  Changing that has been a thorny issue.

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Local News
1:10 pm
Mon October 14, 2013

New absentee ballots going out to thousands

Approximately 3,000 Cincinnati voters who have already been mailed absentee ballots will be getting a second one in the mail soon, thanks to an Ohio Supreme Court decision last week.

They'll also be getting a letter from the Hamilton County Board of Elections asking them to re-vote their new absentee ballots and return them to the board.

It's all because the Ohio Supreme Court ordered the board to restore sections of Issue 4, the charter amendment that would change the city of Cincinnati's pension system. The pro-Issue 4 committee had gone to court to force the change.

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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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Local News
1:37 pm
Fri August 9, 2013

Private firm paid $70K to run pension petition drive

A Cincinnati group trying to revamp Cincinnati’s troubled pension system through a charter amendment paid a California firm nearly $70,000 to put petition circulators out on the streets of Cincinnati.

Cincinnati for Pension Reform, a group that includes some long-time tea party activists, says it collected nearly 16,000 signatures, which are now being checked by the Hamilton County Board of Elections. They need the valid signatures of 7,443 Cincinnati voters to put the issue on the November ballot.

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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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