Dan MacDonald to STRS Board: What you seek is what you get

WHAT YOU SEEK IS WHAT YOU GET

Dan MacDonald's speech to the STRS Board

April 20, 2023

Good morning STRS Board. I am Dan MacDonald, an STRS retiree with 38 plus years of service. I am also the Executive Director of Local 279-R, Northeast Ohio AFT retirees.

What you ask is what you get. The STRS Ohio Reflections Series has started and I click on each participant. I also read The Real Story, Part 1 and 2. I’ve also started reading Keith Faber Special Audit.

Did you catch, as I did, within the “Ana” video where she stated “That’s my income” and that she was thankful that STRS had her back because her retirement was “the furthest thing from my mind,” and Mr. Price, you commented earlier on the new 23 year old teacher. It also sounds like she didn’t follow STRS advice that members should have, and point out statistically, other sources of income. The latest, the “Yvonne” video, does address her pension as a “nest egg” and she mentioned “other financial decisions.” Recent STRS advice followed, but it wasn’t always there. As I stated, what you ask is what you get, and STRS found at least 11 for the new series to get what they asked.

If you think this series is really going to change attitudes, I can say it is a start, but not what most of my membership believes. I request balanced reporting. As a colleague emailed me, “Nice propaganda!!! A message to Mac, “You just enjoy your retirement & let STRS do the thinking.”

Which leads to April, May and June. Important months for STRS and the Board. The 2024 budget is being presented today. Will there be a merit-based 3 percent raise in the 24’s budget? I’ll be shocked if there isn’t. Maybe the Real Story can trace a 3% yearly raise back to the 90’s, or is it the 80’s? I don’t know, does any Board member know when the yearly 3% in the budget started?

It is also time for Policy review, Performance Based Incentives is policy. Changes, if any, will be voted. The PBI policy will be voted. Will any of you step forward and present a substantial change, or changes? Have all of you read the document so you are prepared? As a start, is it time to remove smoothing?

What you ask is what you get. I am asking. I am asking the Board to shake up the budget and PBI policy.

As always, actives need their future benefits enhanced and retirees need their COLA fully restored.