Helena Pieratt to STRS Board: Stop this madness now - no bonuses and they should be fired

From Helena Pieratt, September 15, 2009
Subject: STRS Bonuses

Good morning, Ladies and Gentlemen of the Ohio STRS Board:

You have a sacred trust: the stewardship of the hard-earned money of tens of thousands of retired teachers in our state. While the financial woes faced by the system today may not have been initiated on your watch, they are yours now. These shortfalls have been caused in part by the troubled economy, but for the most part, they are the result of lavish and excessive spending and huge salaries and bonuses paid to those in whom all of us have placed our trust: the investment portfolio advisors, analysts, consultants, etc. They are many, but you are elected to represent us!

The bonuses (not to mention the salaries) received by those individuals have been, and apparently continue to be, in incomparable excess of any salary a public school teacher has ever made or could hope to make.

Stop this madness now! Our entire country was founded by just fifty-six people. Why must the Ohio STRS require as many to manage (and I use the term loosely) it's resources? Not only should these people not receive bonuses, they should be fired. Remember the duties with which you have been charged and honor them. Honor yourselves and us.

We will thank you,
Helena Pieratt, retired
Cincinnati Public Schools