Suzanne Laird to STRS Board: You should be ashamed!

Suzanne Laird's speech to STRS Board

October 21, 2021

Good Morning Members of MY Board:

My name is Suzanne Laird, and I retired after more than 30 years of teaching.

Well, well, well.

You thought we were just a bunch of old retired teachers, who didn’t know anything.
You thought we were just a bunch of, quote, “malcontents.”
You ignored us at your own peril.

You thought you could do your own audit, or get some company like Funston to do a  whitewashed one for you?

You thought you could discredit the leading expert, Ted Siedle, by way of your “Response to the Benchmark Report?”
I think this is what they call “being hoisted by your own petard.”
Because, ladies and gentlemen, this report is what’s going to hang you. All those records you refused to share with Ted Siedle, because it was too much work?
And that “Highest Achievement in Open And Transparent” Award you bragged about the Auditor giving you? I think he’s gonna want that back.

Now, you may say, “Well, I’m only a Board member, I didn’t know any better. I took the Callan College. I believed Callan’s numbers, CEM’s benchmarks, all the questionable fees. I didn’t have TIME to read Siedle’s report!”

Ignorance is no excuse, under the law. Try telling that to the State Auditor, or the SEC, or the FBI.

Board members are every bit as culpable, because you knew and said NOTHING.

If you sat here, month after month, and said nothing when they eliminated the COLA, you should be ashamed.

If you sat here and said nothing when they approved raises on these bloated salaries, you should be ashamed.
If you allowed the Health and Benefits Director to quadruple premiums and slash medical benefits, you should be ashamed.
If you heard the manipulated figures from the consulting firms and did not question them, you should be ashamed.

If you allowed the investment team to continue to utilize hedge funds and risky alternative investments, you should be ashamed.

If you approved exorbitant bonuses, while the teachers you represent were scrambling to pay their bills, you should be ashamed.

And now, you’re about to be publicly shamed. Perhaps more than that. 

Find your conscience. Quickly.