Kathie Bracy's response to Columbus Dispatch editorial: The mindset is still there; they are STILL squandering our money

To the Editor:

In response to today's Dispatch editorial, Raising ethical standards, I wish to point out that ethical immorality and impaired judgement of board members continue to exist at STRS.

You are right on target when you point the finger of blame at former executive director, Herb Dyer, for setting "the wrong tone for STRS board members by accepting meals, golf outings, travel, Broadway tickets and other gifts."

However, even with a new board, many of whose members appear to act as "rubber stamps" for current executive director, Damon Asbury, the mindset does not appear to be much different.

Last December, STRS board member Dennis Leone, in a fervent effort to stem the continuing unconscionable squandering of retiree funds by the STRS board, made a substitute motion regarding the proposed settlement agreement for the lawsuit filed by the non-investment staff members who felt they were entitled to one final bonus check from 2003.

The motion stated that before the board agreed to any payment, the board first needed to seek restitution from former executive director, Herb Dyer, and from the board members who carelessly approved the bonus checks in 2003 and before. It was heavily defeated, 9-2, with Dennis Leone and John Lazares remaining as the two lone board members possessing the moral and ethical fiber to support it.

It deserves noting that two of the nine STRS board members who voted against Dr. Leone's substitute motion were Michael Billirakis and Steve Puckett -- two board members who were personally affected by the outcome of the vote. They should have abstained.

Catering to the entitlement culture of STRS staff members -- and some board members -- is ethically and morally wrong! With such a mindset still prevalent on the current board, I fear greatly for the future security of pensions and healthcare for thousands of retired educators. This board is STILL squandering our money.

Katherine B. Bracy,
Retired educator and STRS beneficiary