Linda Sauer: Small teacher pensions and STRS bonuses

From Linda Sauer, October 19, 2008
Subject: Investments

Hello to the board.

As one of thousands of Ohio Retired Teachers, I am very concerned with how STRS oversees investments and how the money is spent.

I am aware that several years ago, a beautiful new and extremely expensive building was built in Columbus to house STRS. I would love to have had a chance to teach in a school that was half as nice as that building. But coming from Southeastern Ohio, of course I didn't. Because of where I live and taught, my STRS pension is considerably lower than what it would have been if I had happened to live in any other area of Ohio.

If I read some recent information correctly, I am led to believe that those who invest STRS' money to benefit teachers has recently or will receive some kind of bonus for their work. After the horrible financial climate of our country, including Ohio, I certainly hope that those involved in this area of STRS will want to hold their heads high and not misuse profits that should go to the clients (us). I'm sure that being an STRS employee/investor is very hard work and I'm not saying that there should be no benefit to those in that position. BUT the rest of us are trying live on the small amount that we receive as a pension and there should be a way to even things out!!

Please consider my message and remember all of us who are depending on STRS to keep us afloat, even the difficult economic times that we are living in.

Sincerely,
Linda G. Sauer