Superintendents getting a heads-up re: Bonuses

From Jim Stoll, April 29, 2009
Subject: RE: STRS - State Teacher Retirement System - Outrageous Bonuses 2009

Jerry,

Thanks to you and other Superintendents for getting involved. You are absolutely correct in that taxpayers foot 14% of this bill and that 8 - 10 % of every School Districts budget goes to STRS and they are going to pay the (ATTACHED) 7/12 Bonuses despite losing 33 billion in the past 18 months. Additionally, they continue to send out email responses which you've already received trying to defend this nonsense, which they themselves, by suspending then changing the PBI plan have recognized as extremely flawed. You are the fifth Superintendent that has contacted me today so you are not alone. Many thanks for taking action. I would agree that we need to move our efforts to legislators to stop these bonuses as the Exec. Dir. and Board are not responsive to the members overwhelming desires to Eliminate these bonuses. I have met with my legislators here in Southwest Ohio and they are most interested in the issue of these bonuses. Will let you know of developments.

Jim Stoll
Director of Athletics
Sycamore Schools
7400 Cornell Rd.
Cincinnati, Ohio 45242
cell 513-615-4690

From Jerry Harmon, April 29, 2009
Subject: RE: STRS - State Teacher Retirement System - Outrageous Bonuses 2009

To All;

Below is the action I took with my staff – I sent it to all of them because I haven’t seen an announcement by STRS eliminating raises and bonuses for this year. My understanding is that it is within the power of the STRS Board to do this. This is my first action that did not just involve those directly involved with this baloney.

As I stated earlier, I am not going to sit by while we go down the toilet. If I don’t hear something by the 1st of May, I will send letters to major newspapers expressing my outrage and encourage them to investigate and report in depth. I didn’t believe it would go this far, but I am too old to abide stonewalling about anything like this. With aggressive action now, we all can avoid the dreaded questions in the aftermath that go something like this: Why didn’t someone speak up? How could you, as a Board, do this? What do you say to taxpayers who will foot the bill by way of larger employee and employer contributions? All of this as the reporters totally display the waste and abuse even in past years.

I am also sending this to my state Senator and State Representative.

I saw a good quip the other day & it fits somewhat in this situation:

“THE PROBLEM WITH SOCIALISM IS THAT EVENTUALLY YOU RUN OUT OF OTHER PEOPLE’S MONEY.

Respectfully,
Jerry W. Harmon, Superintendent
Jackson Center Local Schools

From: John Lazares, April 28, 2009
Subject: FW: STRS - State Teacher Retirement System - Outrageous Bonuses 2009

Superintendents:

Please forward to your staff.

Thank you.

John Lazares, Superintendent
Warren County ESC

From Jim Stoll:

Dear Superintendents:

It may have been brought to your attention, and I am sorry to report, there are some serious problems with STRS, our State Teachers Retirement System.

Did you know that STRS paid 11 Investment associates total compensation exceeding $400,000 last year? The highest topped out at $529,000.

Did you know that two investment associates got RAISES from 2008-2009 of $39,500. (yes, that was their RAISE. (See links below for all 83 investment associate raises.)

Did you know that this September, in spite of losing $33 Billion in the past 18 months and exploring “CUTTING” member benefits, they are paying “7/12 BONUSES” to 83 STRS Investment Associates, – one bonus for losing 33 Billion is in excess of $160,000 !

See Below for entire details….Many thanks to Superintendents John Scheu, Jerry Harmon and Rod Russell for getting on board and leading the fight to hold STRS accountable for this waste of member contributions and taxpayer dollars. In most school districts 8 – 10% of your entire BUDGET goes to STRS. IS THIS THE WAY YOU FEEL THOSE DOLLARS SHOULD BE SPENT – for outrageous salaries and bonuses?

Please email STRS Exec. Dir. Mike Nehf nehfm@strsoh.org and the Board board@strsoh.org and advocate for them to eliminate the 7/12 Bonuses for this year. Feel free to cc (copy) me at jastoll@yahoo.com.

Please feel free to call or email if I can be of further assistance. Upon request, I'd be happy to send the entire spreadsheet of salary, bonus and compensation totals separately, so you can share with your staff minus what may be construed as a political message below..

Respectfully,
Jim Stoll
Director of Athletics
Sycamore Schools
7400 Cornell Rd.
Cincinnati, Ohio 45242
Cell 513-615-4690
jastoll@yahoo.com