Not enough for 13th checks, but plenty for bonuses: The "G" word rears its ugly head once again!

From Georgia Gilfillan, October 20, 2008
Subject: Re: A $25 billion dollar loss

Some years ago, retirees received a "13th pay" which was a "bonus" to us. We were told investments did not bring in great enough returns to allow that practice to continue. As a result, we no longer receive that "bonus" to "smooth" our year's living expenses. Now, our pension fund not only has lesser returns, but a $25 B loss on the "principal". It is time for those highly paid investors, who are hired to protect that principal and cause it to grow, to lose their bonus. A bonus is a reward for positive growth, not for a negative result. GREED! That is the root cause of our country's present crisis. Is our elected governing board, STRS, willing to forego honest management to let this GREED persist with our retirement funds by paying bonuses where they are not due!?!?

Georgia Gillfillan
Jackson Co.