Barbara Armitage to State Treasurer Kevin Boyce: Please appoint Dennis Leone to STRS Board

Barbara Armitage to John Curry, July 10, 2009
Subject: Letter to Treasurer Boyce- can be shared if you want

Dear Treasurer Boyce:

I am a teacher retired from Worthington City Schools after 30 years of tenure. I urge you to appoint Dr. Dennis Leone to the STRS Board. Dr. Leone is the only voice speaking FOR educators. He is trying to protect our benefits, health care insurance and COLA. We have lost a significant portion of our investments to the the market downturn, but the investment personnel at STRS continue to receive high salaries and large bonuses. However, the Board is recommending cutting our COLA and increasing health care premiums, while our investments are not guaranteed to provide us with any retirement income within a very short time frame.

We need help to ensure that our money is wisely invested, protected for our future, and we need affordable health insurance and a COLA to partially offset the continuous rise of health care insurance. Our COLA is only 3%, and is based on the pension amount from our first year of retirement. It never increases. Dr. Leone has proven to be on the side of teachers, and of course I wonder why the other Board members are not. They have even tabled discussions until September, when Dr. Leone's tenure on the Board expires.

Please appoint Dr. Leone to the STRS Board so that he can continue to help us keep our heads above water. Many retired educators are living at the poverty level. We don't receive bonuses, and never did. We need Dr. Leone to remain as our advocate.

Respectfully,
Barbara Armitage