Donna Seaman to STRS Board: You have golden opportunities this week

From Donna Seaman, January 13, 2009

Subject: Opportunities

Happy New Year, STRS Board. Please take this opportunity, at the first STRS board meeting of 2009, to begin the first step toward earning trust, respect and credibility with your constituents, Ohio's retired teachers!

You have an opportunity on Weds., Jan. 14, to completely abolish the performance based incentive program, which the board initiated, and to send a message to the investment staff that they are not the prima donnas they think they are. They have lost billions of dollars in investments for STRS. They have not earned, and do not deserve, bonuses of any kind!

You have the opportunity on Thursday and Friday, to censure Mr. Nehf for his inappropriate gift of Black Friday off for staff, and to admonish him to follow guidelines for established contractual work days.

You have the opportunity to being listening to Dr. Leone's suggestions and concerns, and for once, respect his advice and motions.

You have the opportunity to consider the timing of your agenda items? Are these times appropriate and convenient to retirees who attend STRS meetings? Or are those times convenient to you, board members, who have virtually no respect or consideration for retirees?

You have the opportunity to listen to and consider the public outcry generated by the governmental bailout of the banks who proceeded to use that money for bonuses and "retreats." You can show your wisdom by following Pennsylvania's example of abolishing incentives for its state investment staff.

You have the opportunity, Board members, to show us again, whether your decisions are based on what is good for STRS employees, or instead, what is good for retirees! What golden opportunities you have this week!

Donna Seaman, 2002 retiree