CMERA has received a copy of the Cincinnati Futures Commission Report. The report makes a series of recommendations regarding City services, operations, and funding. One recommendation is to transfer the pension liability to OPERS, the Ohio Public Employment Retirement System. The report, however, states that such a transfer would require a significant payment from the City to OPERS. To fund that payment, the report recommends monetizing the Greater Cincinnati Water Works. Leasing or selling the water processing assets of the City would not only provide cash, but it would also reduce the number of City employees.
CMERA is monitoring the actions of City Council regarding the recommendations as they relate to the Cincinnati Retirement System (CRS). As we become aware of possible action of the City in regard to the CRS, we will make future announcements. This will certainly be a topic at our meeting on May 11th. At 9:00 a.m. at the First Unitarian Church of Cincinnati, 536 Linton Avenue.
CLICK HERE to see the complete report.