Jim N. Reed letters in three papers tell THE STORY, advise actives: elect Tom Hall, Mark Fredrick to STRS Board

From Tom Curtis, March 24, 2006:

Attached you will find 3 letters written by one of our strong CORE supporters in Fairfield Co., Jim Reed.

He sent them to 3 different papers. All 3 were published to his and our delight. This might be a method of reminding those in your community to vote in April. Thank you Jim for your outstanding support of CORE.

Tom Curtis

CORE Advisory Committee Member

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From Jim N. Reed:

In early April all "active" Ohio teachers will receive ballots to select two "active" teachers to represent them on the STRS Board.

In 2003 Dr. Dennis Leone's inquiry into the State Teachers Retirement System's spending practices produced a scathing review of fiscal abuses. Since the research, publication, and verification (by several major newspapers, lawmakers and attorneys) of the reports the travesty of a $17 billion loss and an administrative attitude of entitlement has been exposed.

Concerned Ohio Retired Educators (CORE), organized in response to Dr. Leone's findings, has lead a campaign of reform at STRS to restore the trust, faith, and confidence that made this retirement system one of the best since its inception in 1920.

Two CORE-endorsed candidates, Mr. John Lazares and Dr. Leone have recently been elected to the eleven-member Board. They need new members who share their commitment to Ohio Revised Code 3307.15---"...The Board and other fiduciaries shall discharge their duties solely in the interest of the participants and beneficiaries; for the exclusive purpose of providing benefits to the participants and defraying reasonable expenses of administering the system..."

There are five candidates for the two "active" seats on the STRS Board for whom only "active" teachers may vote. CORE believes Dr. Tom Hall, an economics professor at Miami University, and Mr. Mark Fredrick, an English teacher in the Cleveland City Schools, possess the best credentials and share retirement system principles that can best continue the renaissance at STRS.

To examine these candidates' commitments to STRS go to www.concernedohio.org. As an "active" it is your opportunity to step up to the plate and continue to be STRS-literate.

Jim N. Reed

Baltimore, Ohio

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Attention all active educators in STRS Ohio. In early April STRS board election ballots will be mailed. Two active educators will be elected to the eleven-member STRS board by Ohio's active teachers.

This election is important to active and retired teachers as well as the tax-paying public. The STRS board constantly makes financial decisions that affect Ohio's education and educators. Among these are choices regarding investments made with the 10 % of each teacher's salary and the 14% of every school district's teachers' payroll contributed by the boards of education. The STRS board must also make decisions on how some of these teacher and taxpayer contributions are spent toward the administration of the retirement system.

In 2003 Chillicothe City Schools Superintendent Dr. Dennis Leone uncovered numerous spending abuses by the STRS board. Several large Ohio newspapers corroborated these malpractices. (The facts and figures used in Dr. Leone's award-winning reports were supplied by the public records within STRS.) Many Ohio educators, lawmakers and lawyers considered these transgressions to be a breach of the ethical and legal obligation of board members to adhere to Ohio Revised Code 3307.15 which specifies the fiduciary responsibilities of the board.

In the last three years the election of new board members initiated the recovery process but leftovers of the old entitlement regime of a departed executive director remain. Educator-board members committed to 3307.15 are needed to keep the turn-around in motion.

Five candidates for two active teacher board positions will be on the April ballot. Credentials and campaign statements can be found on-line including www.concernedohio.org.

CORE (Concerned Ohio Retired Educators) believes Dr.Tom Hall and Mr. Mark Fredrick are best qualified to continue the renaissance at STRS but the hope is that all eligible educator-voters become STRS-literate during this campaign and become more active in their profession's retirement system.

Jim N. Reed

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During the first week of April all "active" educators in Ohio will receive ballots to select two "active" teachers to represent them on the State Teachers Retirement System Board.

In light of the 2003 expose of STRS misspending and malpractices as reported by then Chillicothe City Schools Superintendent and current STRS Board member Dr. Dennis Leone, it behooves every eligible "active" teacher to be informed about the candidates who have qualified to have their names on the ballot.

Though more and more educators, both "actives" and retirees, are becoming STRS-literate there are too many of us who have not paid enough attention to our retirement system. One of the methods of "paying attention" is to be knowledgeable when casting a vote for a teacher who will represent you on the eleven-member STRS Board.

One needs only to look at what has transpired in the past few years at STRS to witness a severe educator loss of trust and faith in a once highly respected organization. Not only the $17 billion dollar loss (at its worse) from our retirement funds but also the administrative spending abuses that accompanied the investment disaster have left many members in jeopardy. Retirees have had the original value of their retirements slashed by astronomic increases in health care coverage for themselves and their families. "Actives" may be looking at an uncertain future retirement benefit package if corrective measures are not taken immediately to stabilize and reverse the entitlement attitude of the administrators and fiduciaries who promised an affordable and secure retirement.

All tax payers should be paying attention as well. Every school district's board of education contributes 14% of staff salaries to STRS and since over half of your public school districts' budgets are supplied by local tax dollars a significant amount of your money is being sent to STRS. Many of you would not be pleased with how STRS has disbursed your dollars.

How not to be fooled in April? "Actives" need to remember they are constituents of the STRS Board and have every right and responsibility to understand where Board members stand on issues that affect our profession. Especially we need to be informed about the candidates running for membership who will make critical decisions affecting all educators.

CORE (Concerned Ohio Retired Educators) believes "active" educators Dr. Tom Hall and Mr. Mark Fredrick have the credentials and commitment to continue the renaissance of attitudes and practices at STRS begun by Dr. Leone and fellow Board member Mr. John Lazares. A vote for Mr. Fredrick and Dr. Hall for new Board members during the April balloting would seem a most prudent choice.

Anyone concerned about this issue can examine relevant information at www.concernedohio.org and www.kathiebracy.blogspot.com.

Jim N. Reed

Educator

Baltimore, Ohio