Nancy Hamant and Jim Kimmel: Impact study on SB 190 -- where is it, STRS?
Sent: Thursday, November 17, 2005
Subject: Fwd: Sound familiar? Montana's version of STRS/PERS - Does the sunshine in Mo...
Sounds a lot like SB 190 impact in Ohio. Which, by the way, we are still waiting for an STRS analysis of the impact of SB 190 on the entire system. Can't figure what the hold up is at STRS? Dr. Asbury said five years was needed to study the impact. Well, come 2006, by any calculation, STRS will be starting on 7 years of data collection which the "high paid" staff should have been analyzing for the past seven years. Maybe STRS hasn't decided whether to hire a consultant to review the impact of SB 190, thereby trying to "slide under the radar" of responsibility.
Nancy (Hamant)
I would say so! But do they really need a consultant to analyze a policy which has been in place for 7 years. Aren't there any actuaries on staff who are already being paid. Also, any director who started the 88% policy without analyzing it first should be fired- Oh yeah Dyer did get the axe didn't he? But seriously whenever someone withholds results from a study there is usually a (bad ) reason. Did STRS ever say who was doing the study ? What methods were used? Was there an outside consultant? How much money or man hours are being devoted? Is there a study at all? My bet is that we won't hear a peep until after the elections in 2006 next year unless the issue is pressed. Because this, too, (190) was voted in by Montgomery and Petro. How can we pry those facts loose ? Get the Inspector General- oh yes- I forgot Governor Daft already vetoed that one for the same reason which was to protect Petro and Montgomery., sure hope the Democratic Governor candidate looks into this at the start of the campaign. Maybe he (Strickland?) might just win on this and similar(BWC) issues. I wonder how far our 42 year unfunded liability would go down if this policy (88%) were eliminated for all those with 25 years or less experience, keeping of course those who are already retired with over 30. I bet it would be a a big savings!
Jim Kimmel
Subject: Fwd: Sound familiar? Montana's version of STRS/PERS - Does the sunshine in Mo...
Sounds a lot like SB 190 impact in Ohio. Which, by the way, we are still waiting for an STRS analysis of the impact of SB 190 on the entire system. Can't figure what the hold up is at STRS? Dr. Asbury said five years was needed to study the impact. Well, come 2006, by any calculation, STRS will be starting on 7 years of data collection which the "high paid" staff should have been analyzing for the past seven years. Maybe STRS hasn't decided whether to hire a consultant to review the impact of SB 190, thereby trying to "slide under the radar" of responsibility.
Nancy (Hamant)
I would say so! But do they really need a consultant to analyze a policy which has been in place for 7 years. Aren't there any actuaries on staff who are already being paid. Also, any director who started the 88% policy without analyzing it first should be fired- Oh yeah Dyer did get the axe didn't he? But seriously whenever someone withholds results from a study there is usually a (bad ) reason. Did STRS ever say who was doing the study ? What methods were used? Was there an outside consultant? How much money or man hours are being devoted? Is there a study at all? My bet is that we won't hear a peep until after the elections in 2006 next year unless the issue is pressed. Because this, too, (190) was voted in by Montgomery and Petro. How can we pry those facts loose ? Get the Inspector General- oh yes- I forgot Governor Daft already vetoed that one for the same reason which was to protect Petro and Montgomery., sure hope the Democratic Governor candidate looks into this at the start of the campaign. Maybe he (Strickland?) might just win on this and similar(BWC) issues. I wonder how far our 42 year unfunded liability would go down if this policy (88%) were eliminated for all those with 25 years or less experience, keeping of course those who are already retired with over 30. I bet it would be a a big savings!
Jim Kimmel
posted by Kathie Bracy at 8:12 PM
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