Donna Seaman to Governor Strickland: End the bonuses!

From Donna Seaman, May 3, 2009
Once again, I ask you to intervene with the State Teachers Retirement System board (STRS) to abolish/terminate performance based incentives/bonuses for 80+ STRS investment staff. When I asked you several months ago to intervene, your staff wrote back urging me to instead contact the STRS board directly! This, after I've sent literally dozens of e mails to the board, to the STRS executive director (copies to the Columbus Dispatch) and many retired teachers, imploring the board to totally eliminate bonuses for staff in the face of current 42% loss of portfolio value, continued mismanagement and overspending, and little if any regard for the well being of retired teachers! This time, please do something! I suggest you have a staff member present at the next STRS board meetings May 14-15 when bonuses will be discussed further, as will changes to retirees' health care. Retired teachers of Ohio need your intervention. This problem is not going to go away! Look at how other states/governors have abolished public pension system bonuses in the light of current economic crises! Ohio should follow suit!

Donna Seaman,
2002 retiree

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Thank you for contacting the Office of Governor Strickland.

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Thank you again for writing.

Ted Strickland,
Governor