Tom Curtis: Commentary, Just An Idea For Stakeholders To Review

From Tom Curtis, June 12, 2009
Commentary

I believe it is time for a consulting team (one not chosen by the administration, or one they have already employed) to evaluate the STRS operation and recommend various cost cutting scenarios.

In my opinion, the STRS management and staff are far too expensive. We are not getting value for our dollar spent, regardless of what management tells us.

For the past 2 decades, history clearly shows that the greedy management staff has easily handled our union-dominated boards. Proof of this is in the misdemeanor convictions of every board member in 2004-2005; at least all of those not protected by government at that time.

Now, here is the problem. Would this board ever provide a 2nd for such a motion? They probably would not; because few on our current board would even understand the reason for such a responsible and much needed action. Further, could they even chose a consulting team that would be objective to the concerns of the stakeholders?

All STRS stakeholders are in a real quagmire here. We have, and have had a board filled with mostly well meaning unqualified individuals that simply do not have the expertise to make proper decisions concerning the operation of the STRS. Because they are unqualified, the only option they have is to simply vote YES to everything the administration and their consulting partners bring before them.

The STRS cannot remain solvent for future retirees, if business as usual is to continue.

Tom Curtis
STRS Stakeholder