ORSC comparison study: STRS investment performance a real eye-opener -- and they STILL get huge bonuses? Something's wrong with this picture!

From Ryan Holderman, April 8, 2009

Subject: ORSC Comparision of STRS investment performance!

Dear One & All:

The attached chart was released today by the Ohio Retirement Study Council, the group that oversees all five of Ohio's public retirement systems.

It compares the investment performance of each group over the following past intervals:

.....2 Quarters (STRS came in 5th)
.....1 Year (STRS came in 5th)
.....3 Years (STRS came in 4th)
.....5 Years (STRS came in 1st)
...10 Years (STRS came in 2nd)

It is also worth noting that this report covers the periods ending December 31, 2008. One can only imagine what effect the losses of the past three months have had!

This makes it even more difficult to understand why the STRS Board voted only to suspend performance based incentive bonuses rather than eliminating them as STRS Board candidate Jim Stoll has pointed out, "The Board, however, voted only to "suspend" (as opposed to eliminate) these outrageous bonuses, which topped out at $259,200 for one of our Investment Associates. It has come to my attention that many members are under the misconception that the bonuses have been eliminated – this is not true. In fact, the Board is planning to pay "7/12" of the 2009 Bonuses in September 2009 (some as high as $165,000) .......... for losing more than thirty billion dollars ($30,000,000,000) of our pension assets."

We need candidates who are willing to speak out, like Jim Stoll and Bob Stein, on the STRS Board!
Click image to enlarge.
http://www.orsc.org/uploadpdf/Invstmt%20Perf%20_2008_12_31.pdf (page 69)