Saturday, January 09, 2010

Linda Meinelt asks Mike Nehf re: cost cutting at STRS

From Linda Meinelt, January 9, 2010
Subject: Fw: Springfield News-Sunday
Mr. Nehf and Bd. Members: In case you haven't seen the article in the Springfield News-Sunday by Megan Gildow, I wanted to share a few quotes from it.
When asked about the STRS financial situation and the possible request for more money from the school districts, Springfield School Treasurer Chris Mohr is quoted, "the point is they (meaning STRS) need to suck it up and look for ways to cut costs and not pass that on to schools."
Later in the article, it states that "Mohr favors cost reductions for STRS, including cutting salaries and bonuses for investment staff."
The article concludes on this quote from Mohr, "those other retirement systems aren't paying over-the-top bonuses. They need to reel it in and get serious about cutting their administrative costs."
So, Mr. Nehf and Bd. Members, it is not just a few cranky retirees who feel changes need to be made at STRS headquarters.
Cutting bonuses, reducing staff, finding ways to raise revenue by leasing part of the building, making the employee health care plans on a par with that of the retirees they serve are just a few ways to get costs back in line. I'm sure you've had many others make suggestions for cost-cutting.
We, retirees, are still waiting and watching to see what you will do to bring your costs down and quit cutting the benefits of retirees, who, in case you have forgotten, are the ones you are serving.
Linda Meinelt
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