Two points to ponder.....

From John Curry, January 17, 2009

A note re: CORE's Lloyd Knudsen's excellent speech to the STRS Board yesterday and some further education needed on the part of our Executive Director.....

Mr. Nehf was answering questions from ORTA officers about the PBI program for the STRS investment staff. I think you’ll find his answers quite interesting. Quoting from the current ORTA Quarterly article on page 4 (caps mine), “He [Mr. Nehf] pointed out that only investment staff earned PBIs, and that they were part of a NEGOTIATED CONTRACT. Mr. Nehf said he was not going to BREAK A CONTRACT, but indicated that the PBIs will be part of negotiations again this year."

Lloyd and others....I think Mr. Nehf forgot something here...there are only two contractual employees at STRS....(1) Mr. Nehf himself and (2) Stephen Mitchell.....no other associates at STRS have a labor contract. What negotiated contract???
John

Note from Kathie Bracy -- What about this part: "[Nehf] pointed out that only investment staff earned PBIs"? What about those eight NON-investment people (such as the real estate attorney) who were removed from the PBI eligibility list by STRS Board action yesterday? Either Mr. Nehf was misrepresented in the article, or writer didn't report this correctly. Which is it?