Correction to minutes of Day 3 of Board retreat

Please note the following correction to the minutes below. When Dr. Leone spoke of 70 STRS employees getting bonus checks, he said the bonuses were in excess of $10,000, not $70,000. The actual quote was: "A total of 268 non-investment employees got their final bonus check this year (from fiscal year 2003) as a result of the lawsuit and settlement agreement. Of the 268, 70 of them got bonuses in excess of $10,000. Fortunately, these bonuses are now stopped, but at least one STRS Board member, Judith Fisher, said she feels they should continue since the Board's consultant said that these employees are "underpaid." -- M.E.A.