Deja vu.....Sen. Wachtmann re: STRS in 2003 -- did he have a crystal ball and gaze 6 years into the future?

He must have!

From John Curry, April 20, 2009

Below is a letter I received (in 2003) from Sen. Wachtmann re. my letter to him regarding misspending, mismanagement, and the entitlement mentality at STRS. That was even before the bonus controversies (yes, there was more than one bonus controversy) , 6 criminal ethics convictions of former STRS Board members and a former Executive Director, and a host of other travesties brought to light by soon-to-be-retired STRS Board member Dr. Dennis Leone.

I take particular note in what Senator Wachtmann said in that letter (attached) concerning health care as, this week, the STRS Board will begin to discuss more cuts to benefits AND increased deductibles as well. Here is what he said on that cold February day back in 2003:

"STRS has not been as farsighted as other systems, such as the Public Employees Retirement System, on managing its portfolio and especially taking early steps to prevent more drastic measures to ensure health care benefits are there for all of the retirees in the future."

We have(n't) come a long way, baby!

John Curry

P.S. The OEA was also searching for that "dedicated stream of (healthcare) revenue" back then... they still haven't found it, have they?
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