Cathy Steinhauser's speech to STRS Board February 16, 2023

Cathy Steinhauser – 35 yrs. teaching Family & Consumer Sciences as a satellite teacher w/Pickaway-Ross CTC.

Just a reminder, since it’s been a while since the last Board mtg. and we didn’t want you to forget the definition of a fiduciary:

“A person who acts on behalf of another person or persons, putting their client’s interests ahead of their own, with a duty to preserve good faith and trust. Being a fiduciary requires being bound both LEGALLY AND ETHICALLY to act in others best interests.”

Many more issues have come to light since December of last year. Many members keep digging up more information that the STRS Board has kept from the members who own this pension and as this membership learns of all the wrongdoing, we will continue to let you know that these actions are totally unacceptable. We will continue to fight back until the Board fulfills its fiduciary duty it was elected or appointed to do.

Here are a few of the things we want:

1. We’ve let you know that we didn’t want this building. Since many of the STRS staff still work at home there is no need to hang on to such a monstrosity with many empty offices as well as large open areas of wasted space. It needs to be sold or sections rented out. There was a question of breaches of security as to why you couldn’t rent but if anyone wanted to hack into a business’s information system, no amount of security is immune. Pickaway County Courthouse, in December 2022, was hacked into. They were told that there are 4000 reported computer breaches every day to the FBI and/or Homeland Security and 40 courts and/or city administrations were breached within a 2 month period of time.

2. We’ve let you know that we didn’t want all the artwork. Our retirement money bought that huge piece behind me and I haven’t heard any STRS pension member say anything nice about it. It’s called “Integrity” which is laughable to have that in this building and claim STRS has that quality. It would be better to showcase Ohio students'. artwork on a rotating schedule.

3. An audit was finally performed by Keith Faber. He claimed there were no laws violated. Many teachers disagree as do several news media outlets so there must be a fine line. It was suggested that STRS needs to demonstrate transparency, especially the fund’s investment strategy and the process that paid 10M in incentives. It’s appalling that Faber gave STRS a “transparency award” last year but on Dec. 29, 2022 Faber says STRS needs to improve their transparency...so much for that fake award.

4. All other state pensions in Ohio have consistently given COLAs each year but STRS has not. We’ve told you that STRS members want you to cut expenses. Let’s start with freezing your salaries, cutting staff, stopping the bonuses and raises, doing away with the subsidized cafeteria and childcare center as well as this building. You can brown bag your lunch like teachers and the staff can find their own childcare; most teachers do this all the time. The budget needs to be reined in and STRS needs to demonstrate shared sacrifice!! Ever seen the 1993 movie “Dave” about a man recruited as a stand-in for the President? His friend, a humble accountant, Murray, balanced the U.S. budget. Be like Murray!