Dean Dennis: Remarks following June 18, 2020 virtual STRS Board meeting

Make a mental note. Retirees only have 2 elected Board Members who "represent" them. The two individuals are Rita Walters and Robert Stein. Both voted YES to approve the STRS Merit Increases to STRS staff. However, they continue to deny us our promised COLA. Joining our two "representatives," with a YES vote for the Merit Increases were Jeff Rhodes (who ran on reestablishing the COLA), Arthur Lard, Carol Correthers, and Yoel Mayerfeld (appointed by the Ohio Treasurer). 
Prior to the vote Rita Walters made a speech that was very passionate about why other members needed to vote for the Merit Increases. I hope everyone was listening. Seeing how there are nearly 40,000 signatures supporting the COLA on the two combined petitions and seeing that STRS is well within the 30 year funding period, let's see if these YES board members can vote YES to giving us our promised COLA. After all, in a Defined Benefit Plan, it's the Board that is supposed to assume the risks, NOT the members. 
It's a little troubling that they can support giving merit increases to those responsible for STRS not having enough money to grant our COLA. Maybe it's time for STRS Ohio to make a visit to Nevada and see how they do with less in their investment department yet receive more in their returns.