From Distraught Don in Chilli....."It's time to worry and do something!"

From Don Gatchell, March 18, 2011
Subject: Fw: [News] March Board News Details Retirement Board Actions andDiscussions

Friends of Education, House Bill #69 proposed by Rep. Lynn Wachtmann (R-Napoleon) will reform the 5 public pension systems in Ohio to include STRS. The purpose is to insure that the pension funds will remain solvent for both retirees and the actives who will eventually be retirees.

Although active & retired teachers will both suffer slightly if HB#69 is passed, if it is not passed we will all suffer greatly. Example: Gov. Kasich has proposed that rather than teachers be assessed an additional 3% contribution to STRS, they be assessed an additional 5%.

Rather than Boards of Education not contribute an additional %, Kasich suggests that the contribution by Boards of Ed. be decreased by 2%. Not only do active teachers lose more under the Kasich Plan, but STRS and the ORSC estimate that this action would not render the pension fund solvent for the long run!

Please write to or e-mail key Ohio representatives urging them to ignore Dictator Kasich's proposal and quickly pass HB #69 to maintain the solvency of our Ohio STRS Pension Fund.[check the STRS or Ohio General Assembly web sites for addresses] Local representatives are Rep. Bob Peterson and Rep. John Carey. Key members of the House Sub-Committee considering HB #69 are Rep. Lynn Wachtmann, bill sponsor, and Rep. Kirk Schuring, Sub-Committee Chair. [Contact info for legislators may be found here.]

Also, in early April, Dennis Leone and others will give positive testimony to the Sub-Committee in Columbus [check the testimony schedule on the OH Gen Assembly web site or check with Laura Ecklar at STRS]. It is time to worry and do something! {see STRS News below}

Distraught Don

P.S ... Please send any corrections if I have any incorrect data ... hey, I am upset!