Wednesday, May 17, 2017

Jesse Parete: Some questions for Nick Treneff

From: Jesse Parete 
Date: Thu, May 11, 2017 
Subject: Questions I hope you can answer
To: Nick Treneff
Dear Mr. Treneff,
One of the immediate topics engaging STRS retired teachers when they socialize is what is going on with STRS. I have tried to synthesize from those conversations the following questions.
1. When was the percentage teacher pay into STRS raised from 10% to 14%? 
2. Two years ago STRS retirees skipped a COLA: What effect did it have on the solvency of the STRS system? 
3. For the past several years retirees have received 2/3 of their original COLA.  When did this start and what effect has this had on the solvency of the STRS system? 
4. Are any of the other four state retirement systems in the same financial straits as is STRS?   
5. Have any of the other four state retirement systems altered or suspended  their COLA for their retirees?
6. Why has STRS had trouble averaging 7.5% with investments?
I don’t know about what those that I talked to actually have been averaging more than 7.5%, but I know that I have a very conservative Edward Jones advisor who has helped me average 9% from 2009 through 2016 and so far this year it is much more than 10%.
I hope that you can provide some context and answers.  We all want what is best for Ohio as well as for ourselves.
Jesse Parete
Retired since 2009
Larry KehresMount Union Collge
Division III
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