NOTE: To find the most current posts, please scroll down to the two big red arrows. You can't miss them.

STRS Ohio Watchdogs: a public Facebook group you can join

STRS OHIO WATCHDOGS

by Cindy Murphy

STRS Ohio Watchdogs monitor the management and investment practices of the State Teachers Retirement System of Ohio.

We advocate for prudent and transparent investments, the restoration of the COLA for retired teachers, and the rollback of additional years of service required for active teachers.

This site will provide you with information about the work that is being done by Ohio's active and retired teachers to preserve our retirement benefits. Check back often for updates.

Join our conversation on Facebook. You don't have to be a member of STRS Ohio to join. Everyone who is interested in learning more about the management and investment practices of STRS Ohio is welcome.

Use this link to join our pack on Facebook:.

https://www.facebook.com/groups/ohiostrswatchdogs 

Have you joined the Ohio STRS Member Only Forum on Facebook?

If you are a member of STRS Ohio and have a Facebook account, you are eligible to join thousands of others who make up the Ohio STRS Member Only Forum. This is a closed group of retirees and actives who are advocating for the return of our COLA, which, as you no doubt know, your STRS Board SUSPENDED on April 20, 2017. Two of our members, Bob Buerkle and Dean Dennis, filed a class action lawsuit against STRS on May 23, 2019 suing for the reinstatement of our COLA. The text of the lawsuit can be found on this blog. You can go here to join the Forum and sign the petition, already signed by more than 20,000 people, for the return of our COLA: Ohio STRS Member Only Forum

Click image to enlarge

Angel of Grief

Garrison Keillor

Items of interest in the Archives: The 2013 STRS Board Election

Many people have been very interested in reading about the irregularities of the 2013 STRS board election. There are many posts related to this topic, beginning the first week of April 2013, after the ballots were mailed to retirees from STRS. You can find them by going to the Archives for this blog, over in the right sidebar, and clicking on dates beginning with April 7, 2013. Dennis Leone announced his candidacy for a retired seat in November, 2012. There is a lot of information about him in the Archives, beginning with November 12, 2012 posts. If you want to read only the best stuff about that infamous election of 2013, go over to the sidebar on the right of where you are now, which is the archives of previous articles on this blog. Scroll down to April 2013. That's where the "interesting" articles begin. You will see many, clear up to the middle of May 2013.5/28/13

.....so what REALLY happened in 2003 that touched off a firestorm at STRS that is still smoldering today? Read it here, from the Cleveland Plain Dealer. (Hint: It ain't over yet!)

More here (Akron Beacon Journal, 2003)

A MUST READ: Dennis Leone Reform Initiatives as an STRS Board Member  Between 2005 and 2009

To find current, day-to-day posts -- pull your scroll bar down a ways, just below the big red arrows (you can't miss them). Thanks.

............................................................................................

Find your state representative and senator here.

http://www.legislature.state.oh.us/

I know, it's weird.........

Many posts that appear "at the top" for a while are eventually moved down, where they can be found under their original posting dates. Also, if you are confused by the postdating, this is done to keep these posts up there; otherwise, they drift down when new posts are added. It's a "blog thing" which I have no other way to control. KB

Handy links: Contacts, information and more (short version)
This is an abbreviated version of the original 'Handy links' post. Click here to view a more complete list. (Some of it is old.)

STRS Board.....STRS website

Board calendar

E-mail contacts at STRS (old, but some may still work)

Map/directions to STRS, 275 E. Broad St. Columbus, OH 43215

STRS "Membership Survey" (spoof)
State legislators.......State of Ohio website

Latest OEA salaries (2011) over 100K; USDL report

Rich DeColibus' PowerPoint presentation STRS' PBI Program; Does it work?: click December 21, 2008 (blog Archive) and scroll down to December 23 posts.

Charts: PBI (bonus) payments

Popular links; click, then scroll down: charts, graphs, investment staff, lists, spreadsheets

$TR$ Inve$tment $taff $$$ (old)

SPECIAL (must read):

Dennis Leone's INVESTIGATIVE REPORT on STRS: May 16, 2003...Who is Dennis Leone?........(PDF version)...More on Dennis Leone .......(PDF version)

Dennis Leone: "Catcher of Thieves"

Dennis Leone's STRS Report to ORTA, March 2007

Dennis Leone's Testimony at the Statehouse 9/5/12
The Plain Dealer article that started it all

Dennis Leone: Factors Driving STRS 30-Year Planning and Revenue Assumptions (with charts)

Historic PBI vote, January 16, 2009

Charts: PBI (bonus) payments

CURRENT POSTS BELOW

ORTA's April Newsletter: All ORTA members need to read this, as do all who are interested in reforming our pension system, STRS Ohio

From ORTA Newsletter

April 16, 2024

From ORTA President Dean Dennis

Greetings Members, here is an update on what ORTA’s leadership has been focusing on. 

April is the month in which ORTA usually conducts their Spring semi-annual Board meetings and this year the meeting will be held at ORTA headquarters in Columbus on April 17th . The second meeting will be held this Fall. In these meetings, representatives from the five Ohio regions come together with ORTA’s Executive Council, review ORTA’s expenses, and budget, and oversee our policies and procedures.

Slated for this meeting will be a proposed change in our bylaws that will allow for more continuity at the leadership level. Currently, the ORTA Executive Committee (EC) comprises a President-Elect, a President, and a Past President. Annually, a Past President drops off the EC and a President-Elect joins the EC. As you can determine, each year brings forward a new EC. This isn’t ideal for leadership continuity. The proposed change facing the Board this April will be whether or not we should increase the terms of each EC member to a two-year term rather than remain at a one-year term.

Next is what is on every retiree's mind, what is happening with the COLA? There is an old joke that drives home the point. It goes like this, “How many psychologists does it take to change a light bulb?” The punchline is “Only one if the light bulb really wants to change.” Our problem is STRS management doesn’t want to change. Their investment practices have essentially remained the same. The STRS management strategy has been to improve their financial health by withholding our COLA and making teachers work longer before they can retire. This is why we need to keep electing Board Members until we have a majority that will move our funds into more transparent investments, such as index investing, and save us from spending unnecessary fees.

World-renowned financial analysis Richard Ennis, State of Ohio Auditor Keith Faber, and former Wright State Economic professor and current STRS Board member Dr. Rudy Fichtenbaum all have reviewed STRS’s investments. They all have concluded that are pension plan would have several billions more over the years if they had been investing more into index funds. Currently, STRS has too many billions of dollars tied up in opaque private equity investments. These investments are fraught with high fees, higher investment risks, and for the past decade poorer performance than the general equity market.

On a more optimistic note, STRS Ohio Acting Director Lynn Hoover recently addressed the Ohio Retirement Study Council (ORSC), which is a legislative oversight body, and accurately informed them that although active teacher contributions have increased by 40% their benefits were reduced. The Acting Director then informed the ORSC that STRS will ask the Ohio General Assembly for an Employer Contribution increase. The increase seems to increase the Employer Contribution from 14% to 18%. Note that in other non-Social-Security states, the average Employer Contribution is approximately 24% significantly higher than the current Ohio STRS 14% Employer Contribution which has been stagnant for 40 years. ORTA certainly will get behind this initiative but firmly believes that this is only one piece of the puzzle to restoring the COLA

From ORTA's Executive Director Robin Rayfield

"For over one hundred years, STRS has acted in a manner that ignores the concerns of its membership and seems to hold protecting its highly paid employees as its most important function." 

Greetings ORTA Faithful, 

The long road to reform at STRS has been marked with ups and downs over these last 6 years. On March 26th Wade Steen’s challenge to the governor’s removal of his appointment to the STRS board of trustees. I have said many times that public educators in Ohio have no better friend than Wade Steen. Although we do not know the outcome of this legal challenge, ORTA is confident that we have presented our concerns in a professional and straightforward manner. 

It is important that ORTA continue to stand up to the concerns with the management of our pension system identified over the last several years. For over one hundred years, STRS has acted in a manner that ignored the concerns of its membership and seemed to hold protecting its highly paid employees as its most important function. There was never any evidence of ‘shared sacrifice’ on the part of the STRS management and employees. Since ‘pension reform’ was introduced over a decade ago the net effect is that: 

•  Retirees have experienced severe reductions in benefits

•  Active members pay 40% more, work 5 years longer, and receive the same reduced benefits as retirees

•  Employees at STRS have received extravagant bonus payments (despite losses in the investment area) and steady base salary increases 

Interestingly enough, there are some members of STRS, management employees of STRS, and several STRS board members that offer revisionist narratives that STRS members were never promised an annual COLA , and that our concerns over the lost COLA are ‘sour grapes.’ I can verify that I was indeed promised an annual COLA when I retired in 2012. I can also verify that many friends discussed with me the fact that they retired when they did because they were aware of the change that would prevent them from receiving an annual COLA for 5 years. That was the motivation behind their decision to retire when they did. 

When we have produced the materials provided by STRS that clearly show that a COLA was promised and provided the copies of the laws of Ohio that clearly guarantee annual COLAs to retirees, these people simply say, ‘the laws changed.’ That is what is at the heart of the dispute. ORTA’s stance is that the lawmakers in Ohio cannot retroactively reduce our benefit years after that benefit was earned. That is the rationale behind the claim that STRS has broken its promise to educators in Ohio. 

ORTA is fighting to force STRS and/or the state of Ohio to make good on its promises for a dignified retirement for public school educators. ORTA is convinced that retirees and actives can and should receive what was promised. Long haul battles, such as the one we are fighting, are tiresome and it seems like we are getting nowhere fast. 

I want to remind everyone that just a few years ago there was only one voice at STRS that spoke loudly about fulfilling the promises STRS made to its members, Wade Steen. Now there are five voices that are calling for reforms at STRS. We are one board member short of a majority! We are optimistic that board members seeking reforms at STRS will have a majority when Wade is reseated. 

I have received notes from concerned ORTA members about the level of emails received from ORTA. I am sensitive to people that feel that we are ‘reaching out’ too often to our members. We have similar concerns from people that do not want to receive information from ORTA’s partner AMBA. Please understand that we are aware of these concerns and trying to find a balance with this issue. 

Of course, with the STRS election underway, ORTA’s endorsed candidate, Michelle Flanigan will have supporters that also reach out. ORTA wants to assist Michelle, as the stakes are extremely high for our members. If you are concerned by the number of emails you receive from ORTA, please contact the ORTA office at 614-431-7002 or rrayfield@orta.org and we will remove you from our list. 

If you want to know more about the battle we are waging for reform at STRS please check out the ORTA website at https://www.orta.org/  

ADVOCACY UPDATE 

I received a call from an ORTA member in March who asked, ‘What does ORTA do for its members?’ This person was upset that he receives unwanted mail from ORTA selling insurance products. His concerns are understandable in that we all receive unwanted marketing mail from a variety of sources. Every day I receive mail enticing me to purchase car warranty offers, political campaigns materials, low interest credit card offers, and more. 

ORTA certainly cannot help with many of these unwanted solicitations; however, ORTA can help with people receiving unwanted offers for insurance products from our partner AMBA. Simply call or email ORTA if you do not want to receive these offers and ORTA will have you removed from the mailing list. All we need is your name and address and we can remove you from the contact list. 

The conversation with the person who called also asked a specific question, ‘What does ORTA do for its members?’ My response was ‘Advocacy.’ ORTA is fighting to reform STRS and provide the benefit that was promised during your career. Listed below are some of the more observable actions taken on behalf of retirees and active contributors of the STRS pension system: 

•  ORTA spoke out against the loss of benefits in 2017. ORTA fought hard to change the original ‘pension reform’ language from elimination of COLA to suspension of COLA. This change forced STRS to reconsider the loss of COLA in 2022 leading to a 3% COLA.

•  ORTA attends every STRS board meeting and speaks out against the mismanagement that is commonplace at STRS. We have challenged the payment of PBI (bonus) to investment staff that have not met true benchmarks.

•  ORTA collected financial contributions for the Edward Siedle Forensic Audit. This audit and his report, The High Cost of Secrecy, shed light on the opaque investment strategies at STRS and exposed previously hidden fees and costs with the investments of our retirement funds. The forensic audit triggered an audit by the State of Ohio Auditor’s Office that confirmed STRS loses money each year when compared to a less expensive, passive, index-based investment strategy.

•  Through the efforts of Mr. Siedle, ORTA seeks to learn what the fees and costs associated with investments at STRS are. Mr. Siedle’s report confirmed that the fees and costs associated with $20 billion are not known by anyone other than the STRS management. Not even the STRS board members are allowed to know this information!

•  ORTA has endorsed successful, ‘reform minded’ candidates to the STRS board. The last five people elected to the STRS board are people ORTA endorsed. Without the illegal interference of Governor DeWine, the reform-minded members of the STRS board would hold a majority. Any of the reforms that have been accomplished have been achieved with the support of ORTA.

•  With regards to the illegal removal of Wade Steen (pro-teacher member of the STRS board), ORTA established the Pension Defense Fund to assist in the legal challenges STRS members face. Our efforts have been successful. Wade Steen’s challenge to DeWine’s removal action resulted in a 10th District Magistrate’s ruling that the governor does not have the authority to replace Steen without cause. On March 26, the magistrate’s ruling was heard by a three judge panel that seemed to agree with the magistrate’s ruling. We will not know until this panel confirms this in the future; however, Mr. Steen’s legal team remains confident.

•  ORTA is currently endorsing Michelle Flanigan for a seat on the STRS board. The election materials were mailed on April 1st . We hope that you will encourage your active contributor friends to vote for Michelle Flanigan.

•  ORTA has also lent its support to the Vouchers Hurt Ohio group. You may be aware that the majority party in the Ohio Legislature and the Governor are financing private schools. Each dollar that goes from the public to private schools not only hurts our system of public education, but this transfer from public schools to private schools has a dramatic impact on the funding STRS receives. 

In closing, I also want to mention that ORTA also attempts to keep our members informed and aware of any news related to our pension. ORTA has built relationships with both Facebook groups dedicated to providing information about the STRS pension system. Working with Ohio STRS Member Only Forum and STRS Ohio Watchdogs, our messages are getting out. The process of reforming a pension system that is one hundred years old and holds over $90 billion is slow. ORTA’s goal is to influence this reform to help all educators in Ohio, retired and active.

Ohio Retirement for Teachers Association

250 E Wilson Bridge Rd, Worthington, OH 43085
614.431.7002

https://www.orta.org/ 

Edward Siedle: When Wall Street Gets Paid Money For Doing Absolutely Nothing

Private equity managers charge lavish fees on committed, uninvested capital because sheepish investors let them.

 edward siedle 

@pensionwarriorsdwardsiedle

I am America's leading forensic expert investigating pension and retirement plans. My mission is to prepare you to fight to protect the retirement benefits you were promised.

EDWARD SIEDLE

PENSION WARRIORS
APR 13, 2024 

Question: What’s better than getting paid 1% to manage people’s money?

Answer: Getting paid 2% to not manage it—for doing nothing. 

In certain niches of the money management industry it is common practice for managers to charge (and investors to pay) fees—typically 2%—on money merely committed to a venture—money the manager does not even manage yet. 

This amounts to adding insult to injury since these types of alternative investment funds already charge exponentially higher fees than traditional stock and bond managers. 

In 2017, reportedly fees  on committed, uninvested capital were the norm in private equity funds. That is, 91% of private equity managers demanded investors pay fees today on money investors had committed to invest over time, say, over the next 10 years. 

In my opinion, there is no justification for these bogus fees that virtually all private equity managers charge, and investors pay without objection. 

When, in my forensic investigations, I bring hundreds of millions in fees paid on committed, uninvested capital to the attention of supposedly savvy institutional investors (aka fiduciaries overseeing other people's money), initial disbelief and embarrassment swiftly turns to defensiveness. 

For example, included in my forensic investigation of the State Teachers Retirement System of Ohio was the shocking finding that the pension paid an estimated $143 million in fees on committed uninvested capital.

That’s an awful lot of money for doing nothing—indeed, it was enough to restore the COLA benefit that had been taken from teachers to 2 percent. STRS Ohio’s experts defended the lavish payments, claiming paying hundreds of millions to Wall Street for doing nothing was no different than paying teachers over the summer months! Ohio teachers were outraged! 

When these payment schemes are exposed to the public, pension officials (victims) and Wall Street (perpetrators) quickly agree there’s nothing wrong with underfunded pensions paying hundreds of millions to Wall Street for nothing. 

Victims and perpetrators quickly agree there’s nothing wrong with failing pensions paying hundreds of millions to Wall Street for nothing.

Private equity managers charge fees on committed, uninvested capital because they can—because they’ve convinced sheepish investors these funds will produce stellar returns. 

Here’s what State of Ohio Auditor Keith Faber had to say about the practice in his Special Audit of the STRS pension—an investigation prompted by my forensic review:

“The STRS Board could adopt (emphasis added) a new PE investment policy where they only commit capital to investment opportunities that have already been identified. While these deals would eliminate paying fees prior to investing cash, they would also limit the deals to which STRS had access. There are trade-offs in any investment strategy and both the current or hypothetical approaches could be reasonably supported or criticized. As long as management makes a knowledgeable decision and are transparent with the Board, these decisions are within management’s discretion.” 

An intelligent investor focuses on fees because, unlike performance, fees are the one thing the investor can control. 

On the other hand, many so-called "sophisticated" investors don’t focus on, or give a damn about, fees. They will pay anything if they believe a money manager is going to make them big money. 

Ironically, I have observed that the more underfunded a pension, the more willing it is to pay outlandish fees—to gamble itself out of a hole. 

As we saw in Madoff, many investors, even today, can be persuaded they’re lucky to have their money managed by the priciest gunslingers. 

So, the lesson is, if a money manager's sales pitch is good enough, he can even get away with outrageously high fees for doing nothing. 

The sky’s the limit.

Click here to read this article and others by Edward Siedle online.

Click here to see more and to subscribe to Pension Warriors by Edward Siedle

From ORTA: Request for STRS Public Records: Denied!

From ORTA  Blog

April 14, 2024

From ORTA: Request for STRS Public Records: Denied!

[View the full article here.]  

Pursuant to Ohio Revised Code 149.43(B)(1):

On or about February 27, 2024, an Ohio teacher requested copies of any and all petitions (the “Petitions”) submitted for the 2024 election for one contributing (active) seat on the STRS Ohio retirement Board.

STRS Ohio denied the request.

Read the Verified Petition for Peremptory a Writ for Mandamus submitted to the Franklin County Clerk of Courts on April 11, 2024 and the Motion for Expedited Hearing. 

[Both documents may be viewed and downloaded here.]

We have highlighted some of the key points.

We will post updates as this case proceeds. 

View ORTA Blog here.

Do we REALLY want this man on the STRS Board? Like it or not, he's there!

Gov. DeWine taps Steve Dackin as head of Ohio K-12 education, despite previous ethics investigation

BY: MEGAN HENRY

NOVEMBER 10, 2023 

ohiocapitaljournal.com

" He resigned 11 days later on June 3, 2022, and signed a settlement with the Ohio Ethics Commission to avoid criminal prosecution in October 2022."

Ohio Gov. Mike DeWine nominated Steve Dackin to lead the new Department of Education and Workforce — despite Dackin’s previous ethics investigation during his less than two-week stint as state superintendent.

Dackin previously served as the vice president of the Ohio State Board of Education and had access to the job applications for the state superintendent position in 2022 after Paolo DeMaria retired in 2021.

In February 2022, Dackin resigned from the Ohio State Board of Education days before the application deadline and applied for the state superintendent position. 

The State Board of Education voted Dackin for state superintendent on May 10, 2022, and he assumed office on May 23, 2022. In between those 13 days, the Ohio Ethics Commission opened an investigation into Dackin.

He resigned 11 days later on June 3, 2022, and signed a settlement with the Ohio Ethics Commission to avoid criminal prosecution in October 2022. Dackin did not take any compensation for the 11 days he was in charge of the Ohio Department of Education.

“Dackin has a broad base of experience that will benefit Ohio’s continued efforts to create a transformative education system that provides the resources and support for students and serves as a pipeline of talented young people to Ohio employers, colleges, universities, and career and technical education centers, helping every Ohioan live up to their God-given potential,” DeWine said in a statement Thursday afternoon announcing his pick.

The Director of the Department of Education and Workforce must be confirmed by the Ohio Senate.

DeWine’s appointment comes weeks after a Franklin County Common Pleas Court Judge denied a preliminary injunction request to stop the transfer of power of K-12 education from the state school board to the governor’s office, which allowed the Ohio Department of Education to became the Ohio Department of Education and Workforce.

This created a cabinet-level director position and puts the department under the governor’s office.

The conservative think tank Fordham Institute’s Vice President for Ohio Policy and Advocacy Chad Aldis praised DeWine’s appointment of Dackin.

“Steve Dackin is a widely respected leader and educator who has served Ohio students for decades in a wide variety of roles including as a teacher, principal, and superintendent,” Aldis said in a statement.

The business coaltion Ohio Excels also celebrated DeWine’s appointment.

“We were proud to support him before and praise the governor for picking this talented, committed education leader to guide this new department at this critical time,” Lisa Gray, president of Ohio Excels, said in a statment.

Dackin was superintendent of Reynoldsburg City Schools from 2007-2014 and then worked as the superintendent of school and community partnerships for Columbus State Community College until December 2021.

He earned his undergraduate degree in history from Ohio Northern University and his master’s in educational administration from the University of Dayton.

Blockbuster Podcast: Scott Sloan (WLW 700 AM) interviews Robin Rayfield 04/11/2024

April 11, 2024 

A MUST-LISTEN about what's been going on at STRS 

(Note: you'll need nerves of steel and a strong stomach for this one.)

Listen here

       

https://www.iheart.com/podcast/71-scott-sloan-on-demand-20785494/episode/4-11-24-sloan-with-dr-robin-rayfield-166760336/

Michelle Flanigan's interview with OFT President Melissa Cropper

Michelle Flanigan for STRS Board — Interview with OFT President Melissa Cropper

Michelle Flanigan for STRS Board — Interview with OFT President Melissa Cropper

 

Wade Steen endorses Michelle Flanigan for STRS Board

From STRS Ohio Watchdogs

April 3, 2024 

Vote for ORTA-Endorsed Candidate 

Michelle Flanigan!

Attention Active Teachers: Ballots for the 2024 STRS board election are arriving in your mailbox this week.

Vote for ORTA-endorsed candidate Michelle Flanigan as soon as you receive your ballot.

Click here to view this video from Wade Steen, calling on all teachers to support Michelle Flanigan.  

Those eligible to vote include all STRS contributing members (except for reemployed retirees), individuals who have contributions on deposit with STRS and disability benefit recipients.

Votes can be cast by following the instructions printed on your ballot:

MAIL: returning the paper ballot in the postage paid return envelope,

ONLINE: by visiting this link, https://vote.escvote.com/strsoh/ 

PHONE: by dialing the toll-free number listed on your ballot.

ORTA strongly recommends voting by phone or online to ensure your vote is counted immediately.

Even if you are not eligible to vote in this year’s election for active teachers, please spread the word about this election and encourage your educator friends, family or colleagues to Michelle Flanigan for STRS board.

If you do not receive your ballot by April 10th, or you misplace it, email STRSOHHelp@electionservicescorp.com, or call 866-276-1506, for a new ballot. 

Be the first to know! Click here and scroll down to the bottom of the page to subscribe to our STRS Ohio Watchdogs blog. You'll receive email notifications of new posts.

Want to learn more about Michelle Flanigan?

Just go to her website: www.michelleflanigan.com

Good vote!

 

The ONLY choice that makes sense for teachers today if they want real representation at STRS and any hope of a decent retirement

 

 

 

 

The Greatest Teacher Retirement Crisis in History - John MacGregor, Ted Siedle

About John MacGregor: A Leader and an Innovator

John has been a leader and innovator in the financial services industry for over 25 years. John’s passion is helping people understand how easy it is to live a financially secure life if they have the right mindset ad process in place.

Learn more here. 

Recorded Apr 1, 2024

In this episode, host John MacGregor dives into what is described as the greatest retirement crisis in history, with a focus on the systemic issues plaguing the United States pension system. 

A distinguished panel comprising experts in financial forensics, educators, and leaders from the Ohio Retirement for Teachers Association discuss the deep-rooted problems within the pension system, particularly highlighting mismanagement, lack of transparency, and the chasing of high-risk investments by pension funds as central to the crisis. 

With a series of guest experiences and expert analyses, including a spotlight on the teachers' pension crisis in Minnesota and the broader implications for the US economy and taxpayers, the episode underscores the urgent need for transparency, accurate management, and the fulfillment of pension promises. 

Ted Siedle, renowned for the largest whistleblower awards in history and co-authoring 'Who Stole My Pension?' with Robert Kiyosaki, sheds light on the opaque and mismanaged financial practices

eroding the foundation of pension systems. 

00:00 Introduction
01:56 A Deep Dive into America's Pension Crisis
07:48 The Minnesota Teachers' Pension Struggle
11:58 The Power of Pension Activism and the Role of Social Media
12:57 The Ohio Experience: A Call for Transparency and Reform
20:20 Uncovering Hidden Fees: The Battle for Pension Transparency
24:22 Unveiling Pension Mismanagement: A Deep Dive
25:21 The Challenge of Accountability in Public Pensions
26:51 The Ohio Case: A Stark Example of Neglect
29:59 The Dark Side of Private Equity and Real Estate Investments
38:18 The Impact of Mismanagement on Teachers and the Education System

-----

Disclaimer: The information provided in this video is for educational and informational purposes only. It should not be considered as financial advice or a recommendation to buy or sell any financial instrument or engage in any financial activity. 

The content presented here is based on the speaker's personal opinions and research, which may not always be accurate or up-to-date. Financial markets and investments carry inherent risks, and individuals should conduct their own research and seek professional advice before making any financial decisions.

https://www.youtube.com/watch?v=U0XSJwmWU0U

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