Supt. John Scheu: These bonuses need to be eliminated -- not just suspended
From John Scheu, April 13, 2009
To All: As a contributing member to STRS, I am appalled by the actions of the STRS Board on your decision to pay 7/12 bonuses for 2009 to investment associates employed by STRS. Despite the vote to suspend the bonus plan in February, it is my understanding these bonuses will still be paid in September of 2009. Then when I read that $39,500 raises were given to two investment associates in 2009, I became even more upset. With our Pension Assets losing $33 billion - how can you even think about awarding such salary and bonus increases? These bonuses need to be eliminated -- not just suspended. And as a member of STRS -- I am one who wonders why STRS seems to be constantly in financial straits, and am concerned about STRS providing health care benefits for retirees in the future.
John Scheu
Superintendent
Hardin-Houston Local Schools (Shelby County)
5300 Houston Rd.
Houston, OH 45333
937-295-3010 ext. 224
To All: As a contributing member to STRS, I am appalled by the actions of the STRS Board on your decision to pay 7/12 bonuses for 2009 to investment associates employed by STRS. Despite the vote to suspend the bonus plan in February, it is my understanding these bonuses will still be paid in September of 2009. Then when I read that $39,500 raises were given to two investment associates in 2009, I became even more upset. With our Pension Assets losing $33 billion - how can you even think about awarding such salary and bonus increases? These bonuses need to be eliminated -- not just suspended. And as a member of STRS -- I am one who wonders why STRS seems to be constantly in financial straits, and am concerned about STRS providing health care benefits for retirees in the future.
John Scheu
Superintendent
Hardin-Houston Local Schools (Shelby County)
5300 Houston Rd.
Houston, OH 45333
937-295-3010 ext. 224
Labels: bonuses, investment staff, STRS Board
posted by Kathie Bracy at 8:33 AM
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