RH Jones: Keep our pension intact

From RH Jones, September 15, 2009
Subject: Re: Dennis Leone: Board members, not STRS membership, should pay out of their own pockets

Dear OH Rep. Brian Williams, Dennis, John, and all:

The officials -- this includes both STRS staff bonus recipients and all board members -- a $ 6-million drain on STRS funds at this time, whether or not it is budgeted in the staff expenses, is "beyond the pale", once again. Surely they realize that this gives political critics of our OH STRS Defined Benefit Plan "cannon fodder" to send our billions into the private sector for their use, not ours. However, if these bonuses were lawfully promised to the staff, we have no choice but to pay them.

Hopefully, the OH political leadership, and the STRS officials, will do what is morally correct and keep our vital pension system intact. We public pension recipients keep the OH economy on a relatively even keel as we spend our income, in the vast majority of cases, here in OH; thus, all OH taxpayers benefit from this helpful stabling of the OH economy. And, by the way, we pay our taxes too.

However, the "bottom line" is this: If the employer (the OH School District's) rate is increased 2.5%, this is revenue that goes into part of the negotiated faculty funds for educators of each district. One way or another, in properly educating Ohio's youngsters, yours, ours, and their future contribution to the Ohio economy that depends on a highly educated population. This is an most valued investment that research claims to be true.

Again, respectfully submitted, in the learned opinion of Robert Hudson Jones, a retired teacher OH STRS member
Comment from John Curry:

Robert and others,

One thing to keep in mind....these investment associates at STRS are "at will" employees with NO contract. Bonuses can be withdrawn at any time and for any reason or no reason at all.

John