To Representative Kevin Bacon: Stop the STRS Board

To the Honorable Representative Kevin Bacon
April 6, 2009

Dear Representative Bacon,

I am writing you because I am deeply disturbed that my pension board at STRS Ohio continues to pay out millions of dollars in bonuses to its huge investment staff when the fund has lost nearly $34 BILLION in the past 18 months. This has got to STOP, and nobody is stopping it! Too many pensioners are hurting as it is, and will hurt even more if their money continues to be used to fund these already rich people on the investment staff.

Nobody objects to bonuses in good times, but this is pure greed in times like this, when so many people are hurting. I have appealed to Governor Strickland and to Senator David Goodman, and I appeal to you now: if there's anything you can possibly do to stop our pension board from making the horrible mistake of further rewarding our investment staff when we have lost so much, please do. Thousands of retirees will be most grateful to you.

Katherine B. Bracy
Columbus, OH