Rudy Fichtenbaum: Why Wade Steen found it necessary to request transparency counsel from Attorney General Yost

From Rudy Fichtenbaum, STRS Board Member-Elect

July19,2021 

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Last week, you may have seen that STRS Retirement Board Member Wade Steen (who is the governor's appointee to the Board) sent a letter to the Board Chair and Vice Chairs. That letter is linked in this post. I am troubled by the fact that Mr. Steen has requested information from the STRS staff and has never received it, as well as by the fact that Mr. Steen has raised grave concerns that never were taken seriously or investigated. As a result, Steen has felt it necessary to request transparency counsel from Attorney General Yost.

As you'll see in Steen's letter, he has proposed a special STRS Board meeting so that he and I may lead a discussion on how the system can reduce costs and improve returns. We believe that our methods can lead to the restoration of the COLA for retirees, as well as dramatically reduce active educator contributions to the system. Business as usual at STRS Ohio isn't working. I hope that Board Chair Walters will oblige Mr. Steen's request for a special meeting so that we waste no more time putting our retirement back on the right track.