Shirlee Zerkel to Nick Treneff: Why weren't we told?

From Shirlee Zerkel, May 26, 2012

Hello Mr. Treneff:

What a surprise to hear of the changes to the investment bonuses for the coming year! Why weren't the members of STRS told that such a discussion and vote was going to be taken and above all, why were we not informed in an SRTS communication of this decision? I know that you did not make the decision of 100%, but you kept it from the membership and for that I blame you. Were you trying to hide the truth. Shame on you!

This is a very hard time for all retirees and actives. STRS is taking much away from retirees and actives in their plan that has been given to the legislature. Mr. Nehf and others at STRS stated that this was necessary to help the system's financial situation. If it is so needed that we retirees who get below $25,000 a year have to give up our COLA for a year and then only get 2%, how can the system afford to present 100% bonuses to investment staff?

Please respond with your reasons for not informing the membership. We are why you, Nick, have a job, but we are the last persons considered in decisions.

Shirlee Zerkel