Mike Matthaes to STRS Board: Wake up!

From Mike Matthaes, October 20, 2008
Subject: Bonuses

To STRS Board:

I find it amazing that the Board would even consider giving the Investment Staff a bonus in this economy! STRS has lost considerable money and yet you wish to reward the staff for this! It is ludicrous!!! As a retired teacher who has helped put money into the system and continues to see the cost of health insurance increase not to mention everything else, it is time STRS tighten their belts and that includes bonuses to the Investment Staff along with all the other perks given to STRS employees while we, the retirees, continue to have to tighten our belts, go back to work, etc. We are all paying close attention to what you are doing! If the investment staff wishes to leave then let them, their are plenty of others who would like to work for an organization where there are so many perks. In this environment today everyone should just be happy to have a job. My wife's company is not paying bonuses this year, nor are they giving pay increases. Our children's employers are laying off, foregoing bonuses, etc. and they are big corporations here in Columbus! Wake up STRS!!!

Mike Matthaes
Retiree, 1997