Dean Dennis: Active and Retired Teachers Attend Ohio STRS Meeting To Protest COLA Cut

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Active and Retired Teachers Attend Ohio STRS Meeting To Protest COLA Cut

By Dean Dennis

Cincinnati, OH

JUN 24, 2018 — On June 21st at 7:30 am, a busload of retired and active teachers dressed in black and equipped with protest posters boarded and left for the STRS building in Columbus. They joined the car loads that came to Columbus to send a clear message to STRS administrators and Board members about our COLA loss.

The meeting was well attended by organizational leaders. In attendance were ORTA (Executive Director Dr. Robin Rayfield), OFT (President Melissa Cropper and Darold Johnson), CFT (President Julie Sellers and members) and many of Ohio's retirement chapters.

The message sent was clear, 1) active teachers should not have to wait 5 years for a COLA after having to work more years than prior retirees, especially coupled with having their contribution increased to 14%. 2) STRS should not breach the COLA promises made to current retirees, especially AFTER they have retired. 3) STRS needs to stop risky investment practices and stop trying to beat the market which has always outperformed STRS over the long term. 4) STRS needs to cease bonuses and salary increases to their employees until the COLA can be restored.

When the public participation segment of the STRS meeting started, the hundred plus members, dressed in black, stood showing protest signs and banners as our members spoke. ORTA Director Dr. Robin Rayfield went first with a powerful well articulated speech letting STRS know that everywhere he goes, his members ask him when is the COLA going to be restored? He followed up with a theme that every speaker echoed. How can STRS deny our members their promised COLA, yet provide STRS staff such large six figure bonuses and six figure base salaries while our members suffer?

Next, speaker CFT President Julie Sellers spoke and eloquently represented the active teachers. She reminded STRS how hard the teaching profession is and how many of our members will now be in their mid sixties before than can gain their full pension. Next, speaker was Dean Dennis who read excerpts from a letter from Representative Bill Seitz, House of Representative Majority Floor Speaker. The letter was a letter of support for "the harsh decision made by STRS to reduce to zero for at least 5 years the COLA adjustment for all existing and new retirees." He stated that in his wildest dreams that he never thought that STRS would reduce to ZERO the COLA. His letter concluded by stating "the General Assembly may have the appetite to resolve this inequity by taking back, in whole or in part, its prior authority over COLAs."

Next, Bob Buerkle gave an excellent speech titled, "Where is the Justice at STRS?" The speech pointed out numerous inequities regarding how STRS treats their employees better than our teacher members. It essence, he told STRS, "you can take our money, but you can't deliver." Bob Buerkle was followed by Mike Mulchay and Roger Peebles who gave examples of STRS misspending practices. They both chastised STRS for passing out excessive bonuses while not being able to provide a COLA.

The last speech was given by Tom Frank, a young Cincinnati teacher. Mr. Frank, speaking for his generation, pointed out that he would be turning his money over to STRS for over 35 years in order to reach age 60 for his full pension. In addition, if he lived out his life expectancy he could have over a 60 year relationship with STRS. He made it clear he didn't want STRS enriching themselves with his money, chided them for getting into hedge funds and he wanted to be able to trust them. It was both a passionate and excellent speech.

After the public speaking concluded, nearly a hundred attendees gathered on the sidewalks in front of the STRS building for a final protest test rally. The rally was covered by Columbus News 10.

A thank you to everyone who attended the STRS meeting and protest. It was very impressive. It was evident to everyone who attended that the STRS administration and the STRS Board Members were not expecting the turnout or expecting the passion. We certainly made a strong impression and our protest was conducted responsibly. Let's keep adding Members to our Forum and Signatures to our Petition. We're gaining momentum!