Jim N. Reed's speech to the STRS Board, December 13, 2007

Re: Good Tidings
December 13, 2007

Good afternoon Ladies and Gentlemen,

My name is Jim N. Reed. I am a 42-year STRS Ohio member and I am here this afternoon, representing myself, to make a few personal observations.

During the November "Public Participation" segment of this board's deliberations I requested each member of this Board seriously reexamine and reconsider the STRS Board policy issues that led to the tabling of Dr. Leone's October motion to stabilize the system's "Checks and Balances."

Subsequently, not only did the board vote to take the five-point motion off the table but in a near unanimous decision the Board voted to alter policy so that two of the points of emphasis could be implemented immediately. The other recommended changes to Separation of Power policy are to be seriously considered in the near future as promised by the Board.

Though I have written each Board member to thank them for their independent thinking and vote for increased transparency and oversight and enhanced attention to Balance of Power, I wish to thank them publicly as well. For Ohio's 400,000 active and retired educators this decision is an early Holiday Season gift and most welcome Good Tidings.

As this year comes to an end, there is an opportunity for STRS to continue its five-year Renaissance that has restored some honor and integrity to a retirement system that once owned a reputation of being second-to-none. The restoration of some confidence and trust among stakeholders has been painstaking and certainly not complete but there is cause to hope ORC 3307.15 will become more and more the focal point of all Board members when decisions about the welfare of retirees and their families are made.

It is my sincere hope that when we look back at 2007 we will see it as a harbinger of a renewed legacy for STRS, a legacy that will attract the best and brightest to teach our posterity and one that will reward career educators with a secure retirement.

Thank you.