Linda Conard to Senator Faber: If Nehf doesn't have the intestinal fortitude to make the necessary changes, then get rid of him!

From Linda Conard, January 5, 2010
Subject: Why Not the STRS Employees Too!

Senator Faber, I am a retired teacher in your district. It is necessary that I share with you my feelings concerning decisions that you, as a member of the ORSC, will be making soon. I know that things have to change. I know that I, as a retired teacher, will be seeing a change in my benefits. It is necessary that I will be losing out on some of what I have taken for granted over my career as a teacher to help make the retirement system solvent.

What I don't understand is why the STRS Director and Staff have not really lost anything! Yes, they froze the investment staff's bonuses for a certain length of time, They didn't get rid of or even reduce the bonuses; they only froze them for awhile and they will receive the bonuses later. The number of employees is entirely too large. With school districts, companies, government offices, etc. reducing the number of employees, why has the STRS not reduced the size of their staff. Yes, the number of investment staff, they say, has been reduced to 81, due to the financial problems that we're in the middle of, but it was reduced before these problems became so bad. The benefits of the staff should not be any better than the retired teachers.

This financial mess the STRS pension system is in would not have been so catastrophic if our investors would not have had so many high risk investments.

If we, the retired teachers, are taking losses concerning our medical coverage and cost of living allowance, then why, why, why have the STRS employees not taken any losses at all. Aren't they being paid by taxpayers? Why are they better than everyone else and feel that there should not be any changes in their lifestyle? If our director, Mike Nehf, does not have the intestinal fortitude to make the necessary changes to the staff numbers and benefits......then get rid of him and get someone in there that understands the problems we're facing. It is up to you, the legislators, to put pressure on the STRS to do what is right and make changes throughout the STRS retirement system......the retired teachers, the active teachers......and the STRS employees!!

Linda Conard, Shelby County Retired Teacher
Sidney, OH