Mike Mulcahy's speech to STRS May 18, 2017: The 2 main types of pension plans

"Who is responsible for fulfilling the pension promises made by STRS when your investment experts lose so much of 'our' money? I suggest to you that it is not the retirees. However, STRS acts as if they have the right to steal the benefits that we were promised after we signed our retirement contract.This is what we worked for and paid all of our STRS required contributions for." 

"Now, you think you have the right to make us pay for your mismanagement, when the obligations are clearly on the STRS to deliver on our promised pensions. Find a way!"

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