Monday, August 12, 2013

City pension reform makes the ballot

When all the establishment is squirming, you know progress is at hand.

The Cincinnati Pension Reform initiative will be on the ballot according to the Cincinnati Enquirer today.

The plan which will turn the plan from a defined benefit plan (a pension plan) to a defined contribution plan (like a 401 K plan) for new employees only will bring Cincinnati's overly-generous pension plan in line with that of almost all private employers.

Those who have bankrupted the City with the current pension, its under-funding and over-promising are predictably squealing like stuck pigs.

It's music to our ears!

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