Shirlee Zerkel to Board re: Bonuses; just vote NO

From Shirlee Zerkel, September 16, 2009
Subject: Fwd: changes needed!

Dear STRS Board members:

I would like to remind you that your Board policy states: Bonuses (PBI) may be "amended, rescinded and /or terminated at anytime by the Board". That time to vote for termination is NOW! If some investment people want to leave STRS, let them. There are many who are looking for jobs with a 6 figure income and good health care benefits.

On September 9th, you made recommendations to the ORSC for many changes that will have a drastic effect on many active and retired teachers and even the taxpayers of Ohio. Your own director, Mr. Nehf, has stated: "If no changes are made, we will eventually be unable to pay benefits." I feel all who have any connection to STRS should share the suffering. We educators should not bear all of the burden. Yet the only change I see suggested by the STRS staff for this week's meeting is to delay the PBI's. I see no suffering in that proposal just a delay.

The Columbus Dispatch article even stated that the bonus if delayed will be given to even those who may no longer be employed by STRS. That's really nice. I wish there was as much care shown for the educators whom you represent.

It is unacceptable that you are even still considering bonuses at a future date given how much money has been lost by the system, many lost retiree benefits so far, and the pending proposals sent to the ORSC earlier this month. The ORSC and the legislators are watching your decisions. I believe that any vote , other than termination of bonuses, will be suicide for the STRS system. I am not asking you to delay bonuses; I am asking you to VOTE NO to the BONUSES (PBI's) this Friday.

Sincerely, Shirlee Zerkel
retiree of 2002