Cincinnati pension system agreement
Last week, after nearly ten months of negotiations, the City of Cincinnati, the unions of current city employees, and retirees came to an agreement over the pension fund. Unfunded liability in the fund had been estimated at more than $860 million. The new agreement is seen as a way to ensure pension benefits will be sustained for current and future retirees, and strengthen the city’s financial situation. Here to discuss details of the pension system agreement are Cincinnati Mayor John Cranley and WVXU reporter Jay Hanselman.