A Win For Everyone
After months of negotiations, the City, its employees, and retirees agreed to a policy intended to make our pension fund fully funded by 2049. The policy was presented to the City’s Finance/Budget Committee and it was recommended for passage to the full Council. Assuming Council approves the Ordinance, it will be brought before the Federal Judge for consideration. Once all legal steps are completed and approved, the CSA will be modified to include the revised funding policy.
The policy will not adversely impact any current pension or benefits! Essentially, the City will transfer $50M to the pension fund now and another $50M over a defined period of time. The City’s annual contribution rate to the pension fund will also increase. In addition, the retirement deduction for current employees will expand gradually over four years from 9% to 10%.
My thanks for all the hours and efforts by those who represented us in this process.
Recent Readings of Interest
Interesting Reading #1
Time Magazine ran a story about the recent Board of Peace meeting. It made me recall a famous scene from the movie Dr. Strangelove in which the President (played by Peter Sellers) yells at an American General (played by George C. Scott) and the Russian Ambassador who are pushing each other. “Gentlemen, you cannot fight here. This is the War Room!” Throughout the first Board of Peace meeting in February, President Trump repeatedly described Iran as a “threat” to “the stability of the entire region.” He said: “They cannot continue to threaten the stability of the entire region, and they must make a deal. If that doesn’t happen, maybe I can understand, but bad things will happen.” Trump added that whether a deal is reached, or whether the U.S. will need to “take it a step further,” should become clear “probably over the next 10 days.” Great start for the Board of Peace.
Interesting Reading #2
USA Today reported that the current Health and Human Services Secretary, Robert F. Kennedy Jr., was asked if he was afraid of germs. He told a podcaster: “I’m not scared of a germ. I used to snort cocaine off of toilet seats.”
Interesting Reading #3
The Cincinnati Enquirer reported that two people lost their lives in a house explosion in Bethel last November. The report of this tragic incident blamed the cause of the explosion and fire on “fugitive gas”. While a propane leak was likely the source of the gas, an HVAC Technician at the house reported 20 to 30 cats in the home. The technician indicated that the carpet was hard and sticky. Also, the smell of ammonia was so strong that it burned his eyes and prevented smelling any propane. Neither the technician nor the cats were charged with any crime.
Interesting Reading #4
An assistant professor at Ohio State pleaded not guilty to assault even after a video showed him tackling a filmmaker. The professor is affiliated with the University’s Center for Civics, Culture, and Society. The incident took place after the Profiles in American Leadership class.
Super Bowl Wagers
My two $10 bets on the Super Bowl did not win.
- Bet #1: Both teams would score in all four quarters
- Bet #2: Each team would get at least 30 passing yards each quarter.
Your Story
Do you have a story to tell others? Maybe some tips to improve your health or even a recipe for your favorite dish. Let us know. We are always looking for ideas for newsletter articles or even a presentation at a general meeting.
General Meeting
Mark Saturday May 9 on your calendar. That’s when CMERA will have its next general meeting. More details will be announced in the upcoming months.
Until next month…
Note: The statements and opinions expressed in the CMERA Chronicles are my own (Chuck Cullen) and may or may not reflect the views of the Governing Board of CMERA.