STRS Board member apologizes: The "T" word WAS used

Tim Myers to John Curry, December 18, 2008
Subject: FW: Questions from Ohio

John,

I apologize. He did use the word TERMINATE in this letter. As you can see below, a decision has NOT been made to eliminate it yet.

I have deleted the attachment (and another paragraph that does not pertain to the incentives) since it is an internal document that he did not want distributed.

Tim

Jeffrey Clay to Tim Myers, December 15, 2008

Tim:

PSERS does have an incentive compensation program for its in-house investment professionals. A copy of the current FY 2008-2009 Policy is attached. Please note, the Board last week did terminate this Policy, effective as of December 31, 2008, to allow it an opportunity to review the Policy in light of current market conditions. At this point it is too early to tell what direction that review will take.

Regards,

Jeffrey Clay
Executive Director
PSERS