CORE Meeting Minutes: December 8, 2005 meeting

The meeting was called to order by Tom Curtis. Advisory board members attending were Betty Bell (substitute scribe), Nancy Boomhower, Kathie Bracy, Chuck Chapman and Tom Curtis. The holiday rush and a winter storm warning lowered our attendance.

Dave Parshall sent a financial report stating that our legal fund has remained unchanged since last month. He also informed us that the link from the CORE website to Kathie Bracy’s blog is now working. Her blog has a very professional appearance and includes recent CORE/STRS emails and info of interest. http://kathiebracy.blogspot.com

We have no exact date for the Damon/CORE meeting. A mid-January date is most likely. Dave Parshall is accepting questions for this meeting through December 15th at dpohlep@columbus.rr.com . There have been fewer attendees at this meeting for both CORE and STRS recently. Although no major changes have resulted from these meetings, it is one way of keeping our face in front of STRS. Two or three more CORE members on this committee would be appreciated. Contact Dave Parshall if interested.

A motion was made (Bracy/Chapman) to table the endorsement vote for Tom Hall as an active candidate for the STRS board until our January meeting. Mr. Hall was administering college exams today and couldn’t be with us. He hopes to join us at our next CORE meeting. OFT is endorsing a candidate(s) they have backed in the past. Mr. Hall is seeking endorsement from ORTA, but their decision hasn’t been made to date.

Mr. Lake will not be running in this election. We are awaiting OFT endorsements to see if we choose to back their candidate(s).

A vote is expected on the STRS non-investment staff lawsuit following the Public Speaks portion of the STRS Board meeting today. Note: The vote was 9 to 2 in favor of paying bonuses to the non-investment staff for the 2002 fiscal year. The cost of the lawsuit and the bonuses will be about $3M. However, there will be no bonuses for non-investment staff in the future. This program has been terminated.

Since the Buck Consultants study on the effect of SB 190 (88% benefit) will not be presented until the January 19th STRS Board meeting, no decision regarding additional investment staff for STRS can be made until then.

It was the consensus of those present that CORE not join the Coalition To Preserve Retirement Security. We have access to their thinking through the membership of STRS and OEA (both members). Tom Curtis will write them a letter explaining that we are a fledgling organization sympathetic with their cause, but with limited funds. The $1,000 annual membership fee would be prohibitive.

Tom Curtis reported that Sen Wachtmann is against grandfathering healthcare to those who retired with the promise of spousal subsidy because the program would cost money! Tom will still request grandfathering in his public speech today.

It was noted that the State Highway Patrol and the SERS each lease portions of their buildings. STRS should be able to do the same. The childcare center is operating $8,000 below the ’05-06 budget (as of September ’05). Budget for this fiscal year is $125,000. Our cost should be zero by FY ‘07-’08.

Two questions surfaced for which we would like definitive answers:

1. Can active employee contributions to STRS be raised without legislative action? What does the ORC require?

2. Can CORE endorse three candidates for the two open STRS Board seats?

Meeting adjourned with the best of holiday wishes for all.

Respectfully submitted,

Betty Bell
Substitute Scribe