Active teacher Pat Knight to Mike Nehf and STRS Board: We are not asking for lavish treatment, just fair and just

From Patricia Knight, May 1, 2009
Subject: management of STRS funds

I am writing again, not pleased at all over the fact that the investment managers are still getting such outrageous bonuses when my retirement is in jeopardy. I have only 2 years to go to retire at 35 years. I have worked long and hard hours, too, to build an investment in "our children," only to find out that I have worked to give others my retirement pension. (The responsibility I have to the children I teach is no less demanding than the investment managers.) That is exactly what will be happening if the next round of bonuses goes through. Teachers have been warned that we could be going to merit pay to weed out the "bad" teachers. Never have I received a bonus for my students doing poorly. Yet, investment managers are exempt from this pay for performance.

Furthermore, I hear I could be taking a pay cut because 4% more of my pay will be going to STRS. How does that compare to the 14+% pay raise given to some the investment managers who lost my money? How in the world does someone think this is OKAY!!??

I think it is high time you bite the bullet and consider those of us who are in the trenches making ends meet on a salary that is 22% of those given to some of these people, not to mention their bonuses.

I understand times are hard. I also understand that I have basically been duped as I am so close to retiring at 35 years and that could be blown right out the window. Does anyone in STRS even care about us and what we are losing when others are gaining so much of our money?

Will there be a grandfather clause for teachers who are so close to 35 years? Will we be compensated for anything? 35 years is a long time to be dedicated to a profession that is what shapes our country. I agree there are people in the profession, as there are in any profession, that just do enough to get by. That is not the case here! I teach with integrity and compassion and foolishly expect others to treat me with integrity and compassion as well.

First, a few years back, we found out of the outrageous money from our retirement that was spent on a building housing STRS. Now, an outrageous amount of our money is being given to others for a performance that is less than encouraging. Greed has taken over our country and this is another area to confirm it. Please do not allow our hard earned money to be given away so extravagantly. We would like what we have worked for and deserve.

I was always under the impression that STRS was there for us! Obviously that does not seem to be the case. Please restore our confidence in STRS. We are not asking for lavish treatment, just fair and just!

Sincerely,
Pat Knight
NES
West Salem, OHIO