Wednesday, January 28, 2009

Jim Conard to STRS Board: Why you were elected

From Jim Conard, January 28, 2009
Subject: Ohio Revised Code!
Board Members,
Somewhere along the way the STRS Board has lost the concept of why you were elected. First and foremost, you were elected to look after the welfare of the retired teachers.
After rereading the Ohio Revised Code Sec. 3307.15......"The members of the State Teachers Retirement Board shall be the trustees of the funds created by Section 3307.15 of the Revised Code. The Board shall have the power to invest funds. The Board and other fiduciaries shall discharge their duties solely in the interest of the participants and beneficiaries; for the exclusive purpose of providing benefits to the participants and defraying reasonable expenses of administering the system; with care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with these matters would use in the conduct of an enterprise of a like character and with like aims"'.......the first question you should ask yourselves...."How can I improve the quality of life for a retired teacher?
There are three things I can think of:
(1) Cost of Living Allowance....we should be getting a true cost of living increase, based on our yearly income, or 3%, whichever is greater,
(2) Health Care.....better quality and lower cost of the plan,
(3) The 13th check....reinstate the 13th check.
Jim Conard,
Shelby County Retired Teacher
Larry KehresMount Union Collge
Division III
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