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It was a cry of defiance that should be heard throughout the nation. The people of Cincinnati fought back against the rising tide of public pension scapegoating across the country, casting ballots last month to soundly reject major changes to the city’s public retirement system. Even though that system has funding liabilities estimated at $862 million, an astounding 78 percent of voters said no to an initiative that would have lowered benefits to the system’s current participants, put new hires into a 401(k) plan and required the city to eliminate the funding gap within a decade.


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