Cincinnati council must attack pension liability more aggressively (Cincinnati Enquirer 12.1.24) Zinser Op-Ed 009
This op-ed focused on the council’s decisions on how to spend a $64 million budget surplus. My concern is that the council’s spending plan ignored the need to more aggressively reduce an $840 million deficit in the city employee’s pension fund, which is under a court order, and must be fully funded by 2045.
The Cincinnati’s Future Commission called the Cincinnati Retirement System’s pension liability, the greatest threat to the city. With more retirees taking than those contributing, before long. the costs of the pension liability will begin to crowd out other budget requirements.
