Molly Janczyk: conversation with Bob Stein on 9/18 PBI vote

From Molly Janczyk, September 23, 2009
Subject: Bob Stein: PBI Vote

Bob Stein called today. He still has his website just FYI which may in the future have points of interest. www.bobstein.us

Per our conversation: My impression of why he voted as he did.

Bob felt paying the PBIs as stated in the minutes was saving retirees money in the long run. A court action was likely if not paid which would have cost STRS much more than paying the past PBIs.

He felt his vote saved the system more money and allowed looking to the future for areas of improvement for membership. He knew he could have voted NO and looked good to the retirees because his vote did not change the outcome. But, he would not have voted what he felt was correct resulting in what he believes to be overall cost saving for retiree best interests.

I am merely sharing the bottom line of our talk as I understand what he told me.

I am not offering opinion.

Bob Stein bobstein@bobstein.us

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