RH Jones and Tom Mooney on STRS spending abuses

From: RH Jones
To: Tom Mooney
Sent: Monday, January 30, 2006
Subject: Re: Flashback- spending abuses at STRS

Tom Mooney,

Thank you for taking the time out of your busy day to once again answer my e-mail question. I, too, do not wish that our STRS be sued. Also, I am in agreement with your statement: "I believe individuals who broke the law should be prosecuted." However, your statement: "I'm not sure who you beleive OFT should sue, and what remedy or releif we could reasonably expect to obtain." The remedy or relief that OFT would expect to obtain is this: The active teachers and their employers, who are now being asked to increase the rate paid into the STRS, would benefit the most. Certainly, all future STRS BD members and employees, would "think twice" about violating the ORC 3307. Granted, in terms of STRS investment value, recovery would be small, BUT, the remedy would be: The individual monetary damage awards would to the OFT would insure that the STRS would be run clean and honorably for years to come. At present, I do not think that is true. And, other than the ethics CMTE, the state, on behalf of active/retired educators and their employers has not acted. The Feds were asked as well, but we did not receive from either one.

For these reasons, if the OFT is to represent the best interests of their active paying members, and their retired members, these individuals who have been found guilty of ethics violations should be sued for damage to the members of OFT. As you are aware, David Freel, the OH Ethics CMTE Dir. is taking the alleged lawbreakers to court in Columbus. So far, one, Herb Dyer has been found guilty.

Again, thank you for your consideration of this most important goal of a clean and financially healthy run STRS for the OFT membership now and in the future.

Robert Hudson Jones, a STRS retired member

From: Tom Mooney

To: RH Jones

Sent: Friday, January 27, 2006

Subject: Re: Flashback- spending abuses at STRS

Robert.

Again, we were as outraged as you and others when these abuses came to light and remain so. Dennis did all of us a great service. As listed in your attachment, major changes have been implemented.

Given that I'm not sure I see the point of suing the STRS, since it would only drain more money that is needed for pensions and health care. I believe individuals who broke the law should be prosecuted. Should we sue individuals in civil court to recover funds? How much would we recover? I think it is the responsibility of the state to pursue violations? I'm still not sure who you believe OFT should sue, and what remedy or relief we could reasonably expect to obtain.

Tom