Trina Kay Prufer: The Narcissism of STRS - we have the worst teacher retirement system in the nation because its values and goals are the worst in the nation.

From Trina Kay Prufer

September 21, 2023

The Narcissism of STRS - we have the worst teacher retirement system in the nation because its values and goals are the worst in the nation.

Yesterday, it was pointed out to me that the State of Missouri is very similar to ours; however, its teacher retirement system ( PSRS) manages to provide a fair cola to its members and is otherwise in good financial health. So, how do they do it, and what are its systemic goals? Turns out, their mission statement, goals and objectives are the polar opposite of those of STRS, and therein may lie the root of the problem.

Below I have posted the mission statements and goals of STRS and PSRS. Notice how PSRS puts teachers and the children of Missouri first. STRS puts the WANTS of the system ahead of the needs of teachers, students and the fiduciary responsibilities of the system. The casual reader might think these are empty words, however they are backed up by the ORSC which, in its recent report on the overspending at STRS, rationalizes the malfeasance by stating STRS needs to EMPLOY and RETAIN the best and the brightest for the STRS system, NOT, the children of Ohio.

So, why should Ohio’s teachers contribute 14% of their hard earned income to a financial entity that works AGAINST their best FINANCIAL interests? I believe that‘s a question that needs to be asked. STRS exists to pay teachers’ hard earned promised benefits. Just read the STRS goals and compare. We need Missouri’s mission and goals. They have it right.

STRS- unsafe, unsound, unjust.