Tom Curtis on ORSC report: Another reason to vote for Jim Stoll and Bob Stein

From Tom Curtis, April 9, 2009
Subject: 040909 ORSC Comparison of STRS investment performance!

Hello STRS Stakeholders,

The information below is really interesting. [http://kathiebracy.blogspot.com/2009/04/orsc-comparison-study-strs-investment.html] The STRS paid the 89 investment staff employees roughly $6 million dollars in bonuses recently. This amount is huge compared to what the investment people were paid at the other 4 Ohio pension systems.

Actually, there is little comparison. 3 of the other four do not have an in house investment staff. OPERS, who has twice as many stakeholders as does STRS, paid their investment people roughly 1 million in bonuses. OPERS did not lose as much value as did the STRS.

Now look at the performance from these STRS investors, compared to the other 4.

Need I say more?

Please keep in mind that 5 union-supported board members (3 OEA & 2 OFT) voted NOT to suspend the bonuses. What are these board members thinking? It is time for change on the STRS board.

I urge you to vote and to contact others and ask them to vote for the two non-union supported candidates.

Jim Stoll for actives
Bob Stein for retirees