Jim Stoll to Steve Wartenberg re: Mismanagement and profiteering at STRS when pension systems are going broke and teachers are taking the hits

Jim Stoll to Steve Wartenberg (Columbus Dispatch), September 10, 2009
Subject: Fw: STRS Recommendations to ORSC and Compensation/Bonuses of their Investment Staff

Steve,

I read your article yesterday about the pension systems with great interest. Thank you for your factual and unbiased reporting.

I thought you'd enjoy reading and looking at this email and attachment which I sent to the ORSC Board members on Tuesday. [See September 8 ten part posting "Jim Stoll to Aristotle Hutras: STRS Recommendations to ORSC and Compensation/Bonuses of their Investment Staff" http://kathiebracy.blogspot.com/2009/09/jim-stoll-to-aristotle-hutras-strs.html]

It details the enormous bonuses which STRS investment associates will receive in spite of the fund losing in excess of 20 Billion dollars last year and forcing changes to benefits paid to teachers both retired and in the future. The STRS Board will vote to approve these bonuses for their staff at the Sept. 16, 17 meeting.

To me, this is mismanagement at its worst and I think the taxpayers of Ohio should know about how STRS employees are "PROFITING" at a time when Pension systems are going broke.

Sincerely,

James A. Stoll
Director of Athletics
Sycamore Community Schools
7400 Cornell Rd.
Cincinnati, Ohio 45242
513-615-4690