Dave Speas on political appointees to STRS Board

From Dave Speas to Molly Janczyk, August 9, 2006

I have experienced the reality that sometimes the known is better than that which replaces them. I am most concerned about the billions that are needed to bring back the healthcare and the people who have the knowledge to protect it. I saw Dr. Brown make actuaries change their projections because of his knowledge. I did not always agree with him and I am sure he did not agree with me always, but he protected us from drastic mistakes made in projections by our hired actuaries.

Sometimes we have to put up with things we do not like to have the protections the experts can provide. The other eight board members can counter them and better because we may get appointees that follow the political opinions that healthcare should not be part of the retirement because of its drain on the investment returns.

I am always apprehensive when we get rid of the known for the unknown. John and Dennis were knowns, Dr. Buser was a known because he was one of us appointed to protect us from big mistakes and Dr. Brown was elected and had the knowledge to save us billions.

I am hopeful that the government leaders appoint people who are as honest and knowledgeable as these two gentlemen were. May God protect us from what could happen in these two appointees and the third if that should happen.

Blessings!!!

Dave Speas