Should STRS employees be paying into STRS retirement instead of OPERS? Discussion: Duke Snider, Bob Jones and John Curry

From Duke (Kenneth) Snider, May 8, 2010
Subject: Re: Ponder (FYI)

Bob, You have a good grasp as to what has and is happening. First of all you were on the right track about STRS employees paying into STRS. Now I wonder why "they" wouldn't want to do that? It wouldn't have anything to do with spiking would it which I believe can be done in OPERS? Wouldn't it be an asset to OPERS if STRS employees paid into STRS? Quite frankly, I think the politicians should pass legislation that requires STRS employees to pay into STRS and not OPERS. It might make about 600 a little upset, but so what? And on the flip side the politicians would gain respect (votes) from retirees, spouses, family, friends and acquaintances. Vote and support politicians who support current STRS retirees. Don't vote or support any politician who is in favor of reducing or eliminating any part of current STRS retirees retirement. If politicians don't want to commit themselves, don't vote or support them. They are either for us or against us!!!

Duke

From Bob (RH) Jones, May 8, 2010
Subject: Re: Ponder (FYI)

To Duke and all:

A few years ago, a couple of us brought the idea of STRS employees paying into STRS, rather than OPERS. The answer we got from the STRS board member representing retired members was that the "STRS is only for educators. It, therefore, would take legislation to make the change. However, no OH Rep. (whose retirement system is OPERS) is apt to initiate the legislation because the STRS employees make so much steady money that OPERS is not about to lose this large amount of investment seed money. Without the statesmen of the past, our modern self-centered legislators of today are not about to sponsor, or to pass, such legislation for us. I believe that to be a realistic judgment.

Also, we do have to go to bed worrying about our retirement and the cuts that many of our STRS management employees and their "rubber stamp board members think up. They stay up at night dreaming of how they can cut retiree funds that effect us, as well as our families; for instance, when the STRS management recommended taking away our spousal and dependent HC/RX, the board majority voted to recommend it. Also, when the management recommended cutting our COLA the board approved recommending cutting it too! Can one then conclude that they are anti-family? They have not done their job in properly in making retired educators the pension compensations that professional career educators deserve. This bodes poorly for future educators. If they can cut us now, they will cut them in the future; therefore, a logical conclusion for them is: with all the hassle that politicians and a public are heaping on the profession today, along with a STRS that will cut you after retirement, why not go into another profession such as pharmacy where you can name your own hours and start out at $100 grand?

RHJones

Duke Snider to John Curry, May 8, 2010
Subject: Ponder (FYI)

Maybe the reason my thinking is the way it is stems to the fact I've been in law enforcement since 1989. Sometimes I have discovered a person who is guilty of doing something wrong is the person who is extremely loud and pointing the finger at some one else. The spotlight is taken off the guilty and shines brightly on the innocent. Psychology, and many haven't even attended college or taken a psych class.

Now this reminds me somewhat of what has and is happening to retirees. Who are the people that always have the spotlight shinning on them and are the target of reduction or elimination of their retirement? Who are the people who are not mentioned (in the Proposal from the Retirement Study Council) about improvement, reducing, or eliminating anything at the STRS employee and administrative level?

Shine that light brightly on the retirees!!!

Something to ponder. Please correct me if I make a mistake or I'm not accurate in this email.

STRS employees, app. 625, pay into PERS retirement and not into STRS retirement. WHY? If STRS employees paid into STRS retirement, that would eliminate their spiking in PERS which probably PERS wouldn't object and PERS would be money ahead.

STRS wouldn't allow them to spike.

If STRS employees paid into STRS retirement, the 600+ would definitely help the system, financially AND STRS employees should take or should have a greater interest in their jobs AND look at STRS retirement in a different light.

Now why wasn't something mentioned as this in the PROPOSAL?

One more point to ponder---obviously nothing is going to happen until AFTER the election in November. My stand is I will not vote, support, or work for ANY politician who supports or votes a reduction or elimination of ANY part of our STRS retirement.

I encourage you all to do the same, and make it be known to your politicians.

Shine that light where?

It's getting to the point that some retirees are trying to find solutions for STRS administration. Maybe many of us are guilty for this, but it should NOT be our job. We are the retirees and THEY are not. If it weren't for retirees and active teachers there would be no STRS. What part of this is not understood? Why should retirees have to go to bed worrying about retirement, healthcare etc?

Duke

From John Curry, May 8, 2010

Duke,

I agree wholeheartedly. If STRS's investment associates would retire in the same system that they invest in it certainly would give them a little more incentive to do a better job and not take excessive risks to obtain their six-digit bonuses. Right now, if they take that excessive risk and lose their (actually our) shirts, they still have that six-digit salary to fall back on. Either way.....they win! A change in the Ohio Revised Code to place all STRS employees in the STRS Retirement System is long overdue. This change would only affect 600 people but would benefit hundreds of thousands of stakeholders in STRS.

John