"We're just dotting our i's and crossing our t's," Ms. Duboc said. "We have to keep it close to the vest right now, but we're planning a big roll-out."
Ms. Duboc would not say which residents would be involved, or how much money she has raised for the effort. She had originally proposed the idea in a Jan. 11 e-mail to supporters.
Menlo Park Mayor Rich Cline said he didn't have an immediate reaction to the news, adding that he wanted to talk to Ms. Duboc to better understand her plans.
Councilman John Boyle, who ran on a slate with Ms. Duboc in the 2006 election, also said he hadn't formed an opinion as to how the city should respond, but that the effort is consistent with what the city is trying to do.
"I think it's noteworthy that there's a pretty strong sentiment amongst residents to more aggressively pursue pension reform," he said.