Linda Meinelt to Mike Nehf and STRS Board: Where are the cuts?

From Linda Meinelt, October 16, 2009
Subject: Concerns

As I read the minutes from the last Board meeting, once again I see a repeat of all the proposed changes to bring the fund to less than "infinity" by making changes to the stakeholders either through increased contributions, reductions in COLA, increases in insurance premiums and deductibles, etc.

What concerns me is what I don't see and that is:

What is being done by Mr. Nehf and the STRS Bd. to control the daily costs of operating STRS? Has there been a reduction in staff? Has the cost of health insurance increased for employees? Why did the Board vote to continue bonuses for Investment staff when we are "bleeding money?"

Perhaps one of these days, we will receive answers to these questions.

Until that time, I will continue to ask questions and urge others to do the same. It is our retirement that is at risk, not that of the STRS employees -- they are covered by PERS (which is fiscally sound)!

Linda Meinelt
Worthington, OH