Ralph Lloyd to STRS re: Bonuses

From Ralph Lloyd, February 4, 2009
Subject: Bonus Payments

Dear STRS:

Here is another letter for you, even though I have yet to receive an answer from you, I will continue to send these to you until you open a dialogue with me. Latest news in from The Times/Reporter newspaper today is that in order to help get their house in order Huntington Bank is laying off 500 workers, taking away their 401-K program donations for their workers, and eliminating all incentive payouts. So what has STRS done to improve their assets (reduce the $26 billion that was lost on investments)? ALL THOSE INCENTIVES OR BONUSES YOU PAID OUT TO YOUR INVESTMENT COUNSELORS, INCLUDING THE DAYCARE WORKERS, DID NOT IMPROVE THE SITUATION. When I and another person coached wrestling and racked up 144 dual match victories no-one gave us a bonus, nor when I taught students who did well, did I receive a bonus.

Ralph L Lloyd
Note: Ralph did receive responses the next day (Feb. 5) from Laura Ecklar and Dennis Leone telling him some belt tightening was starting at STRS. KBB