Mary Ellen Angeletti: Minutes for 11/17/05 CORE meeting

The CORE Advisory Board met at STRS on Thursday, November 17th, 2005 at
11:45. In attendance were Kathie Bracy, Dave Parshall, Chuck Chapman, Nancy Boomhower, Chuck Angeletti, and Mary Ellen Angeletti. Mary Ellen served as scribe. Our turnout of CORE folks was low today probably due to conflicts with the upcoming holiday and the cold weather. No votes were called for at today’s meeting.

Dave Parshall reported on the balance of the CORE financial fund which has increased a few hundred dollars since last month. A new member joined at today’s meeting.

Kathie Bracy shared information about her new website opportunity for CORE. She has established a blog of her own which sure did impress all of us. She has gone one step further by also starting a blog called “CORE Mail and More” which she is encouraging us to use. This CORE blog can be reached by going to www.coremail.blogspot.com. Kathie has developed this new way to present CORE emails so to avoid the hassle of an overloaded email box. If you should decide to use this as your CORE email of choice, please do. You can then remove yourself from other CORE emails if you so choose. Kathie has done a great job of compiling up-to-date information regarding retiree concerns and anything and everything that has to do with CORE. Many thanks to Kathie for providing us this great service. Dave Parshall has also promised to include a link to Kathie’s blog at our CORE website. This should be available in a few weeks. We hope that you will visit this new blogsite. Anything posted before 11/15/05 may be found on Kathie’s original blog at www.kathiebracy.blogspot.com

It was announced that the next Damon/CORE small meeting will occur on a date to be determined in mid-January, 2006. In preparation for this meeting, Dave Parshall has requested that questions to be submitted to Damon & the STRS staff should be sent to Dave at dpohlep@columbus.rr.com by December 15th. Dave reminded us to please NOT send the questions to Damon at STRS but instead send them to Dave. When the date of this meeting is established, we will send out an email and hope that we can encourage more folks to attend these informative meetings.

The first topic of discussion at today’s meeting was the 2006 STRS upcoming Elections. Professor Tom Hall, a possible candidate for the STRS Board, was discussed. Molly Janczyk brought us up-to-date on his credentials, and he looks to be a good prospect. Tom Mooney of OFT may interview him as a possible candidate but he is NOT a member of OFT so we are uncertain about this endorsement. Our own Tom Curtis is backing Prof. Hall’s candidacy. Bob Buerkle introduced Don Lakes who is employed by Tri Health. His extensive background in the health care field makes him a viable candidate for the STRS Board. He spoke to our group today, and he also seemed to be a good prospect. Bob Buerkle is strongly backing Don Lakes. On December 3rd, OFT will choose their endorsed candidates for the STRS Board election of 2006. So on that date, we will know their slate of candidates. CORE folks suggested that we hold debates during the election period.

The next topic of discussion was the lawsuit brought by the non-investment staff of STRS which was heard by Judge Guy Reese who ruled in favor of the lawsuit paying STRS employees three million dollars. Judge Reese ruled in favor of awarding $660,000. for the employees’ attorneys’ fees. CORE feels that this ruling by Judge Reese should have been appealed rather than partially settled. (A ruling on additional punitive damages is pending.) CORE has written many letters and emails to Judge Reese protesting his ruling. We encourage all to send letters to help with this effort. His address is: Judge Guy Reese II Franklin County Courts of Common Pleas General Division
369 South High Street Columbus, OH 43215 7A

His email address is: guy_reece_II@fccourts.org Duke Snider shared that Representative Dan Dudp of Adams, Brown, & Clermont Counties would be attending the STRS meeting in the afternoon. He is interested in visiting to learn more about STRS and the lawsuit awarded by Judge Reese. Duke shared a document which Rep. Dudp had given him which could be used to collect signatures to demand that the courts check out Judge Reese and this ruling. Once the courts receive this request, they are obligated to follow through. Duke passed out four copies of this document but promised to make the document available to us all via email. No decision was made on the use of this document today but this may be something which we will want to use in the future. (Rep. Dudp did attend the Public Speaks portion of the afternoon STRS Board meeting. He was officially introduced to the Board.)

Chuck Angeletti reported on the STRS Investment Committee discussion. The STRS Board approved an investment plan that increased the basis points from 33 to 40 which means that in order to reach STRS investment goals, the Investment Department at STRS is going to have to be a little sharper and luckier. In order to accomplish this goal, STRS Investment Dept. may have to add more qualified employees. There was a debate on this issue but with the increased risk involved, it was tabled until a compensation study could be completed in December of 2005. Even though this was done, the investment plan was passed by a vote of 9 to 2. (Leone and Lazares voted against the plan.) An addendum was added to this plan that the STRS Board could change this investment plan depending upon the compensation study which is coming next month. None of this will occur until January 1st, 2006.

The next topic of discussion was the possible utilization of space within the STRS building and parking lot and surrounding properties in regards to renting and leasing. But first of all, we have to find out if what Damon told us earlier still applies. He told us that since a pension fund is non-profit, it is a big problem regarding the IRS if STRS makes a profit. Due to the fact that Herm Fisher brought to our atttention that the Ohio Highway Patrol Pension Fund was doing this very thing in Columbus, it would behoove Mr. Fisher to write up his question and submit it to Dave Parshall for the CORE/Damon meeting in January. The deadline for these questions is Dec. 15th, 2005. Mr. Fisher is invited to attend this meeting and explain his ideas as well.

Bev McCoy then reported on the Lima Health Care meetings sponsored by STRS and the Health Care Advocates. She mentioned that our own Paul Boyer asked a question which turned out to be a speech as Paul insisted on using the podium and refused to give up the microphone until he was finished. Way to go, Paul!!!!

Due to the Christmas holiday, the next STRS Board meeting & CORE meeting will be scheduled a week earlier than usual, December 8th and 9th. The CORE meeting will be on Thursday, Dec. 8th at 11:45 a.m. in the cafeteria room behind the Sublett Rm. at STRS.