Glenna Barr's speech to the STRS Board, November 16, 2006

Health Care is has been on everyone's mind. I was glad to read to read on your website that the Basic HC plan is offering several preventive services paid 100%. I am concerned about the Medicare subsidy being returned to the 2003 level. With other expenses such as higher HC co-pays, Medicare increases, higher heating and transportation costs, the retirees' economic plight worsens.

I have a question: what is going to happen to our prescription drug plan, its co-pay costs, and premium cost since CVS has bought Caremark? I have made inquiries at Walmart and other retail stores offering the cheaper co-pays on generic drugs, regarding their costs. Will CVS offer us the same?

I am interested in who will be appointed as a replacement for the active teacher place on the board. I would hope you consider this appointment very seriously. There is needed someone with finance and investment background as the board deals with these issues. I would like Tom Hall be considered for this position.

On the issue of travel, our board members do not need to go to the four corners of our nation for investment and financial information conferences. We have a very capable investment staff to hold these informative meetings and a wonderful conference center hold them in... I am sure there are many consultants and people of expertise in Ohio. IF I want more more information on my investments, I call my brokerage and go to their mini conferences. I know this is on a much smaller scale but it is the same concept.

On contingency plans: if we have another national disaster or Wall Street has another downturn as in 2000-2003, what would be your plans to protect our retirement system?

I would like for the board to be the best informed group of people so that good decisions can be made for us. They need to know all information on any items presented on the agenda. They should not blindly vote for or against a decision without studying those items. We are counting on you and on the staff to be the best you can be. The retirees expect no less.

Thank you,

Glenna Barr, 30 year retiree from Highland County.