A special thank you to STRS Board members Rob McFee, Dale Price, David Gruber, Scott Hunt and Wade Steen for your supporting vote at the June Board meeting

Editorial 
By Kathie Bracy
June 19, 2020 

A HUGE thank you to the five STRS Board members, Rob McFee, Dale Price, David Gruber, Scott Hunt and Wade Steen, who stood up for active and retired teacher members by voting AGAINST an increase in salaries and bonuses for STRS employees for 2021. In these unprecedented, hard times there is a pandemic claiming thousands of lives, our economy is suffering possibly irreparable damage, many organizations are cutting salaries, millions of Americans are out of work and STRS retirees are already struggling from increasing inflation while their pension has been flatlined since 2016 when the STRS Board destroyed their COLA, their only hope of keeping up. And yet the STRS Board, at their virtual meeting on June 18, 2020, had the audacity to pass a budget that would hurt retirees even more by granting multiple increases in STRS salaries and bonuses.

Where is their conscience? This is the Board that continues to rob the very ones who make it possible for STRS employees to have their more-than-comfortable jobs (especially those receiving 6-figure salaries and bonuses, and there are many) in a nice "palace" with heated sidewalks, gymnasium, childcare center and expensive art work and more. I don't know of any teacher who ever had anywhere NEAR the salaries and perks (what are those?) of STRS employees, yet they continue to milk us for every penny they can get in the name of preserving our pension. It isn't just the retirees who are angry, and rightfully so. An even larger contingent is watching very closely and is increasingly demanding to be heard: those who are still teaching. They are now being forced to pay a whopping 14% of their salaries to STRS, and are having to work more years, paying that much more into the STRS coffers to pay those who are already making a ton of money off of them while many at STRS are no doubt licking their chops to see this money rolling in.

Thank you, Messrs. McFee, Price, Gruber, Hunt and Steen for listening to us and casting the only vote that was right: a resounding "NO" to the 2021 STRS budget. Retirees and active teachers alike can be thankful at least YOU are listening to us and have the fortitude to buck your colleagues who would continue unconscionably to spend our hard-earned money with no regard for the effect it has on many who are already struggling to make ends meet. Is this the 21st Century American version of the practices that led to the French Revolution or what?

How much longer is STRS going to allow these indefensible, unchecked spending practices to continue on the backs of their members who will never get to enjoy the luxuries afforded to the STRS staff and employees? The Board's 6-5 vote on June 18 passed the 2021 budget. I'm sure STRS is thrilled. Let's hope they are prepared for the next outcry from the membership, as it's only going to get louder. These people are hurting. STRS is not.

Listeners' comments following the June 18, 2020 STRS virtual Board meeting

"Hopefully Rita Walters gets voted out. She isn't doing her job very well representing what the retired teachers want. Sounds like she only represented what she wanted. Shameful!"

"Quoting Rita Walters 'STRS is what it is because of the people who work for it...' while voicing her support for passage of budget with 1.6% increase for employees. Guess she forgets all the retirees and teachers who really are what STRS IS. Thank you to Gruber, Hunt, McFee, Price, and Steen who voted no due to the included increase. The budget however, was passed."

"She sure did give a build-up on a prepared speech that supported the raise. Unbelievable! I am glad there was support from Gruber, Price, Steen, McFee, and Hunt."

"That speech was written by the STRS staff and she became their propaganda agent."

"And we, who paid into it, get nothing. Our cost of living increases also."

"Rita, you forgot to thank the behind the scenes people, THE OHIO RETIRED TEACHERS! 1.6% merit increase averaged over all employees, while we the members get 0%"

"Remind everyone to vote her out next year!"

"Can STRS Board members be recalled? She seems like a prime candidate."

"Both retiree board members voted for the proposed budget! How could they do so in good conscience?"

"OSU has no raises this year HOW can THEY have one???!!!"

"I just sent my latest message to the STRS Board after listening to an affirmative vote for salary and bonus increases for employees while retirees receive no cola and active teachers have seen a 40% increase in contributions along with 5-8 additional years of service retirement. I intend to follow-up with letters to ORSC, and my elected representatives. STRS is a "premier" system for employees, but not for those of us for whom the system was created."

"I am not a retiree yet but I dream of being able to retire before I die. Please search out good candidates to run for office."

"I am so very disappointed with our retirees and how they do not represent the people they are on the board to represent."

"They absolutely couldn't care less what the members want. It is a corrupt self serving entity that lives off the backs of educators. Changing this board is a must going forward."

"Thank you, Dale Price! TPS retirees appreciate your representation."

"I listened to the entire meeting. First off those that presented data spoke in lingo most non-financial listeners could even understand. However, embedded in their speeches were their negative forecasts that should have made board members sit up and listen. If they could not grant a COLA, why bonuses? And to those who stated that in order to keep “qualified staff” they should be rewarded for their efforts with merit bonuses. Well, listen up! I was a “qualified employee” for 38 years, and you know what I received for my hard work? A paycheck. That’s what all persons who will receive these unnecessary bonuses should get. A paycheck. Nothing extra. And keep in mind STRS employees, you have a job, because we worked hard!!! To those who voted “no” I applaud you for taking a stand. And shame on the board member for giving a prepared speech and voting against those you represent, as well as the others who let us down, once again. No amount of charts and financial babble will ever convince me that these bonuses are warranted."

"Performance fees are allocated for outside & inside managers. Teachers are the base of the STRS, why oh why do those that work for us or manage our funds get a 3% merit & incentives average. This is so backwards, the Ohio auditor should investigate & manage our interest as STRS is not managing our interest only associates & managers. Shame on our board!"

"I just sent my latest message to the STRS Board after listening to an affirmative vote for salary and bonus increases for employees while retirees receive no cola and active teachers have seen a 40% increase in contributions along with 5-8 additional years of service retirement. I intend to follow-up with letters to ORSC, and my elected representatives. STRS is a "premier" system for employees, but not for those of us for whom the system was created."

"Why are they getting raises? Teachers are barely getting a raise, (IF our union accepts the offer of a 0.977% increase for one year) if u can call that a raise, IF AT ALL! I know most schools are taking freezes, so WHY AREN’T THEY? We still have to pay our 14% in while they are just wasting it away?! For what?!!"

Dean Dennis' observations on the June 2020 STRS virtual Board meeting

From Dean Dennis

June 18, 2020

What probably bothered me the most about the June Board Meeting is this: last month, the "Cyber Board Meeting," allowed MEMBERS to type comments to the Board. This month STRS had this feature turned off their cyber format. Could this be because STRS got word that many were going to ask "Where is our COLA?" Mistake? You decide.

Lastly, one of their better paid clients highly praised STRS during the recent Board Meeting for having such a great WEBSITE, and, for having a Call Center that answered the phone in 19 Seconds. We all agree that we'd trade our COLA for this anytime. Once again, this put them in the upper echelon compared to other pension systems. But here's an obvious question, if STRS can post who our elected STRS Board Members are (along with their picture), why can't STRS post their STRS email addresses ? Members should be able to get in touch with them. This is strange for a pension system that boasts how "transparent" they are. 

I also find it odd that 3 of the 6 people that voted "YES" for the Merit Increases, had their emails bouncing back to many of us. Why, because we were trying to guess what their emails were. Can anyone share the secret code? So, Carol Correthers, Rita Walters and Yoel Mayerfeld, how can we get in touch with you?

Joe Lupo: A big thank you to five STRS Board members for supporting STRS members with their vote at today's STRS virtual Board meeting

From Joe Lupo

June 18, 2020

A great big THANK YOU to the following STRS Board members for voting NO on the 2021 Budget:

Robert McFee

Dale Price

David Gruber

Mr. Hunt (alternate for Paolo DeMario - Supt. of Public Instruction)

Wade Steen (appointed by the Governor)

To those members that voted YES on the 2021 Budget...SHAME on you:

Carol Correthers

Rita Walters (retired teacher member)

Arthur Lard

Jeffrey Rhodes

Robert Stein (retired teacher member)

Yoel Mayerfeld

After the vote, Board Chair Carol Correthers said that this was a difficult decision for some Board members. In reality and based on the current state of STRS, it should have been a difficult decision for all Board members. The 6-5 vote by the Board approving the 2021 Budget will continue to financially impact thousands of retirees for years to come...the same way past budgets have impacted us today.

On a positive note, it has been some years since only one dissenting vote occurred on the Board, let alone five dissenting votes we witnessed today. If the two retired teacher members on the Board would have voted for the retirees they are supposed to represent, the 2021 Budget would have failed. It has taken three years for us to get to this milestone. For those forum members that are getting discouraged, have faith, keep your chin up and look to he future...and vote the current Board retired teacher members out as your representatives.

We were pleased to hear Board members speak up today before their vote, asking questions on recommendations by staff and asking for separate votes on recommendations having more than one issue. This certainly helps provide clarity for members and could in the future reduce erroneous assumptions and accusations. Open discussion by the Board is always healthy and promotes transparency with their members.

While watching the STRS webinar today, I couldn't help but think that this antiquated form of meeting delivery to members is like putting a wagon wheel on a Tesla automobile. I can not think of one reason why STRS can not provide a better delivery and also allow members to access the Board meting and materials at their convenience. There is technology available and it should be accessed for future Board meetings. Board transparency is an issue along with COLA that is not going to go away anytime soon.

In closing, I would be remiss if I did not mention the reading of the Board Retirement Resolution for Mike Nehf. This is not intended as a criticism, but food for thought in the future. The Board member that is designated to read the resolution should have it in advance to be able to rehearse reading it...especially when it has been written by another party or parties. While I will not comment on the content of the resolution, the reading mistakes and delivery certainly detracted from the presentation to the individual being honored.

STRS Board to hold special meeting June 23, 2020

From STRS

June 18, 2020

PUBLIC MEETING NOTICE

The State Teachers Retirement Board will convene a special meeting at 8:30 a.m. on Tuesday, June 23, 2020, for the purpose of discussing appointment, employment, compensation or other terms and conditions of employment of a public employee or official, and to handle any other general matters that may arise. This special meeting will be held at the STRS Ohio offices at 275 E. Broad St., Columbus, Ohio.

The majority of this meeting will be conducted in

Executive Session.

Due to the COVID 19 pandemic, the public may only attend the meeting virtually. Those wishing to attend may register using the link below:

https://attendee.gotowebinar.com/register/307154478453041165

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.

Some comments from listeners following the June 18, 2020 STRS virtual Board meeting

"Quoting Rita Walters “STRS is what it is because of the people who work for it...” while voicing her support for passage of budget with 1.6% increase for employees. Guess she forgets all the retirees and teachers who really are what STRS IS. Thank you to Gruber, Hunt, McFee, Price, and Steen who voted no due to the included increase. The budget however, was passed."

"She sure did give a build up on a prepared speech that supported the raise. Unbelievable! I am glad there was support from Gruber, Price, Steen, McFee, and Hunt."

"That speech was written by the STRS staff and she became their propaganda agent."

"And we, who paid into it, get nothing. Our cost of living increases also."

" Rita, you forgot to thank the behind the scenes people, THE OHIO RETIRED TEACHERS!""1.6% merit increase averaged over all employees, while we the members get 0%

"I just sent my latest message to the STRS Board after listening to an affirmative vote for salary and bonus increases for employees while retirees receive no cola and active teachers have seen a 40% increase in contributions along with 5-8 additional years of service retirement. I intend to follow-up with letters to ORSC, and my elected representatives. STRS is a "premier" system for employees, but not for those of us for whom the system was created."

"I listened to the entire meeting. First off those that presented data spoke in lingo most non-financial listeners could even understand. However, embedded in their speeches were their negative forecasts that should have made board members sit up and listen. If they could not grant a COLA, why bonuses? And to those who stated that in order to keep “qualified staff” they should be rewarded for their efforts with merit bonuses. Well, listen up! I was a “qualified employee” for 38 years, and you know what I received for my hard work? A paycheck. That’s what all persons who will receive these unnecessary bonuses should get. A paycheck. Nothing extra. And keep in mind STRS employees, you have a job, because we worked hard!!! To those who voted “no” I applaud you for taking a stand. And shame on the board member for giving a prepared speech and voting against those you represent, as well as the others who let us down, once again. No amount of charts and financial babble will ever convince me that these bonuses are warranted."