STRS Board meeting December 16, 17, 2020

From STRS

December 10, 2020

PUBLIC MEETING NOTICE

The State Teachers Retirement Board and Committee meetings currently scheduled remotely and at the STRS Ohio offices, 275 East Broad Street, Columbus, Ohio 43215, are as follows:

Wednesday, December 16, 2020

11:30 a.m. Disability Review Panel and Final Average Salary Committee (Disability Reviews and Final Average Salary Committee will be conducted in Executive Session)

Thursday, December 17, 2020
Due to the COVID 19 pandemic, the public may only attend the meeting virtually. Those wishing to attend may register using the links below:

8:30 a.m. Audit Committee
https://register.gotowebinar.com/register/4330238940991634445 

10:00 a.m. STRS Ohio Retirement Board Meetinghttps://register.gotowebinar.com/register/249397136454646541 

3:00 p.m. Investment Committee Meetinghttps://register.gotowebinar.com/register/4987214730774030605 

Comments to the Retirement Board should be sent to boardwebinar@strsoh.org 

The Retirement Board meeting will come to order on Thursday, December 17, 2020, and begin with a Report From the Investment Department, Executive Director’s Reports, a Report From the Finance Department, routine matters, old business, new business and any other matters requiring attention.

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Board Calendar

Retirement Board Meeting Dates

https://www.strsoh.org/aboutus/board/calendar.html

• Dec. 16, 17 & 18, 2020
• Feb. 17, 18 & 19, 2021
• March 17, 18 & 19, 2021
• April 14, 15 & 16, 2021
• May 19, 20 & 21, 2021
• June 16, 17 & 18, 2021
• Aug. 18, 19 & 20, 2021

Edward Siedle on Investment Fees

The following quote is the opening to Chapter 17, page 195, of Edward Siedle's book Who Stole My Pension? If this doesn't get your attention, I don't know what will. It will no doubt raise some questions in your mind about your pension..

"Your Pension Is Lying About Its Investment Fees 

"Your pension is lying about how much money it pays Wall Street Investment firms to manage its assets. It's paying exponentially more -- perhaps 10 times -- than it's telling you.

"In countless investigations, I have proven that the fees pensions disclose to the public are just the 'tip of the iceberg.' Most often this is due to alternative investment fee complexity. That is, alternative investments impose multiple levels of hefty fees which are not fully disclosed even to pensions, much less participants. The problem is exacerbated by the fact that (1) pension overseers lack investment experience and, hence, don't know how to ferret out fees and (2) pension overseers have agreed to withhold documents related to fees from participants and the public -- so no one has the opportunity to verify whether fees are fully disclosed. 

"Why should you care? Because the more your pension pays Wall Street, the worse its net (after fees) investment performance is and the less it has to pay you."

There's more -- MUCH more -- in Edward Siedle's book Who Stole My Pension?

Thank you, Hamilton County!

From Dean Dennis

December 8, 2020

A HUGE THANK YOU TO THE HAMILTON CO. RETIREES CHAPTER FOR THEIR RECENT GENEROUS $15,000 CONTRIBUTION!!

HOWEVER, WE STILL NEED VOLUNTEERS TO CONTACT A SHORT LIST OF ORTA MEMBERS VIA PHONE FROM THEIR HOME, WHO DON'T USE SOCIAL MEDIA. PLEASE HELP. LET'S DO THIS!

Want to Donate to the Audit? Here's How:
Donate By Phone: (614)431-7002
Donate Online: orta.org/donations

WE NEED PHONE BANK VOLUNTEERS TO MAKE A FEW CALLS FROM THEIR HOME TO ORTA MEMBERS FOR DONATIONS. If you can help, contact ORTA Executive Director Robin Rayfield at (419) 583-6924 or email: rrayfield@orta.org  

Hamilton County Retired Teachers Association

A sampling of OEA salaries from 08/31/19 to 09/01/20

Below is a sample from the US Department of Labor Annual Report (for OEA) dated 12/06/20 and showing what various OEA officers, consultants, employees, etc., received between September 1, 2019 and August 31, 2020. In many cases it includes gross salary and other disbursements for official business. Keep in mind this is just a small sample of the full report. To view the full report, you can go to https://www.dol.gov/agencies/olms/public-disclosure-room and look up the data under FORM LM-2 LABOR ORGANIZATION ANNUAL REPORT, File Number 512-490 (OEA's Employer Number). Members of the Facebook group Ohio STRS Member Only Forum can find a PDF copy on that site, under Files. It is listed as OEA 2019-2020 - LABOR ORGANIZATION ANNUAL REPORT.pdf. 

Gross salary plus Disbursements for Official Business

Sheryl Mathis, Executive Director $224,734

Mark Hill, Secretary-Treasurer $195,026

Scott Dimauro, President $227,859

Jeffrey Wensing, Vice President $120,647

OEA Employees (Schedule 12)

Ellen Adornetto,

  Educ. Reform Consultant  $149,510

Mark A. Allison 

  Computer Tech Services  $163,642

Schedule 15, Representational Activities

Jeff Attilli

  Labor Relations Consultant  $137,395

John Avouris

  Labor Relations Consultant  $164,416

Sara Baker

  Labor Relations Consultant  $161,497

Alexandru Barbu

  Computer Tech Services  $162,094

Anne Barrett

  Labor Relations Consultant  $147,455

Mickey Bates

  Labor Relations Consultant  $156,734

Bret Benack

  Labor Relations Consultant  $171,397

Katherine Boerger

  Labor Relations Consultant  $162,073

Thomas Booth

  Labor Relations Consultant  $127,578

Kimberly Borzyn

  Labor Relations Consultant  $176,415

George M. Bozovich

  Labor Relations Consultant  $163,570

April Braun

  Labor Relations Consultant  $138,244

Makia Burns

  UniServ Organizer  $162,978

James Capehart

  Director of Membership  $163,876

Gary P. Carlile

  Labor Relations Consultant  $163,988

Denise Carmack

  Labor Relations Consultant  $163,620

Joshua Cawein

  Labor Relations Consultant  $111,043

Elizabeth Chandler-Marks

  Labor Relations Consultant  $164,299

Donna Christman

  Labor Relations Consultant  $174,078

Airica Clay

  Labor Relations Consultant  $170,135

Kristy Spires

  AED Business Services  $196,047

Karrie Strickland

  Labor Relations Consultant  $182,883

Anne Thomas

  Labor Relations Consultant  $166,804

Eric J. Urban

  Labor Relations Consultant  $168,263

David Williams

  Labor Relations Consultant  $177,720

Jasmine Williams

  Labor Relation Consultant  $169,385

Amelia Woodward

  Labor Relations Consultant  $170,385

Amy Yevincy

  Labor Relations Consultant  $183,133