Linda Meinelt and Speaker Jon Husted re: Divestment

Mr. Husted apparently believes (in the letter below) that the respective pension system Executive Directors had the authority to enter in to an agreement that jeopardized their pension systems. Only their "Boards" have that authority. This "deal" should have been run by the boards first. Maybe he didn't want to take the time. Maybe he was afraid of the results should this "agreement" were to have been given to each respective pension board member to sign or not to sign. Last time I checked....Damon Asbury's authority comes from the STRS Board. Looks like this one needs an opinion from our Attorney General. John [Curry]

Jon Husted to Linda Meinelt, August 28, 2007
Subject: Divestment

August 28, 2007

Dear Ms. Meinelt:

I received your e-mail regarding you opposition to House Bill 151. I appreciate your years of services as an educator, and for sharing your views on this issue with me.

Please know that as a public employee and contributor to PERS myself, the public pension funds are of concern to me as well.

I agreed not to pass legislation on this matter because in a meeting with me, and in a subsequent letter, the pension funds voluntarily agreed to divest, I just want them to honor their word. The matter of their integrity, not pending action from the legislature, is presently the only question that needs to be answered.

Again, thank you for your e-mail. If I can be of any further assistance, please contact my office.

Sincerely,

Jon A. Husted

Speaker

Ohio House of Representatives

Linda Meinelt to Jon Husted, August 28, 2007
Subject: Re: Divestment

Speaker Husted, I thank you for responding to my email.

To me, integrity doesn't involve coercion which is how I see the STRS Board having "agreed" to divest. The monies were not theirs to give away without membership approval since they are not public funds.

Linda Meinelt