Third grade teacher on bonuses: Did I vote for THIS?

From Molly Janczyk, November 5. 2008
Subject: RE: Bonus

Dennis Leone is the sole voice for you on the STRS Board on this issue to my knowledge. You hear nothing from ORTA, OFT or OEA except to support this practice. You do not get to vote. The STRS Board decides for you and it is union minded again. We have "TWO" empty investment appointee seats which no one seems to care about. OEA and OFT dominate decisions and one is lucky if they even acknowledge us yet alone stand in our shoes. Times are different. We are in crisis-well not all of us-not the well paid administrators and their privileged benefactors. We need the best investors we can afford and they have done an incredible job for us. However, it times of crisis, some degree of recognition and acceptance of the plight of retirees is in order with lower bonuses and even refusal to take raises when none of us get a thing except 3% simple COLAs. For me, that translates to $70 to $80 clear a year. for my monthly budget which must absorb HC increases beyond that and then gas, food and living inflation costs. I lose more each year and get nowhere fast.

From Gloria _?_
Subject: RE: Bonus

Hi Molly,

I am numb after reading the paper yesterday and finding out the extreme bonuses paid out!! Did I vote for this? What can we do to keep this type of mismanagement from happening again!!!!???????? STRS has become just another big server of the rich -- isn't any one watching them and my money?

Gloria
Grade 3 teacher