Subject: Knock, knock...STRS...you might want to see this! Notice that it is sponsored by representatives from BOTH parties?

From John Curry, May 12, 2009

"The bill, sponsored by representatives from both parties and supported by local retired teachers, specifically says that in any year with a net negative return, no bonuses will be paid out."

Huffman bill aims to ban teacher's retirement system bonuses

Representative Matt Huffman

Lima News, May 12, 2009
Beth L. Jokinen

COLUMBUS - Ohio Rep. Matt Huffman, R-Lima, introduced legislation this week that would ban performance-based incentive for the State Teacher Retirement System (STRS).

The STRS board suspended bonuses for the first half of this fiscal year, which ends June 30. The board is considering giving the bonuses back to about 50 employees, Huffman said. The bonuses total nearly $3.4 million.

The bill, sponsored by representatives from both parties and supported by local retired teachers, specifically says that in any year with a net negative return, no bonuses will be paid out.

"My big issue is I don't think there should be bonuses paid when what is paid out to the teacher could be potentially damaged or less," Huffman said.

The bill still needs to be assigned to a House committee for further discussion. Huffman hopes to have the bill in place before the STRS board makes a decision in September.
http://www.limaohio.com/news/bonuses-37288-huffman-bill.html

Read more about this story in Wednesday's The Lima News.