Dan MacDonalds remarks to the STRS Board October 19, 2023

PUBLIC PARTICPATION 

R-E-S-P-E-C-T 

[This speech had to be altered since the childcare center was voted closed before Public Participation] 

Mr. Chair and members of the Board, good morning  good afternoon.  I am Dan MacDonald, an STRS retiree with 38 plus years of service.  I am also the Executive Director of Local 279R, Northeast Ohio AFT retirees.    

There is no respect for “Public Participation” as was evidenced last month by our STRS timekeeper.  Whoever authorized that sound, he/she should be admonished by the Chair, and the entire Board. Disrespectful.  If that sound were used in your classroom, or the daycare center, someone would be reprimanded.  The Board and the staff certainly showed those parents, and all who spoke last month, what this pension organization genuinely think of us.  

The Childcare Center. Since July the center has been on a death spiral, losing teachers and then children. This should have been handled better by management. A waiting list of 33 families including 5 STRS employees. Five Stars – I can see why that does not fit the image STRS wants to share, the childcare center outperforming the investment department. The childcare center operated on a nonprofit basis versus the PBI investment department. The childcare center has a plan to break even while the investment department struggles daily with the stock market. 

“The Real Story (Part 6)” with its 3 “Undeniable facts.” The on-site cafeteria is not an expense for STRS Ohio. Thanks for addressing my last month’s speech, but now I must ask, because of the wording, “Following three price increases”, does that mean it wasn’t breaking-even? Also, are public participants to look for answers in EUPDATEs?  EUPDATEs are not a forum that acknowledges people's concerns. The Board, a staff member, or a staff presentation would be proper platforms with EUPDATE follow-up. R-E-S-P-E-C-T  

Glad to hear the Fitness Center is also not an expense for STRS Ohio, at least since 2021.  Undeniable Fact 3: STRS Ohio associates’ activities, including the Buckeye Bash luncheon, are paid from associate contributions. Associates' contributions? Is this a slush fund? Do these funds exist in financial reports or audits? Are they volunteer or mandated? Board members, should you not be asking these questions? 

Finally, the October 2023 STRS News mailing. I understand that a COLA was awarded for FY24 but trust me the document that was sent to homes implied to many, over ten retirees have contacted me, that another 1% is being processed. Quotes: “Board approves 1% cost-of-living adjustment for fiscal 2024.” “The increase will be added...” Again, I understand because I am here. Suggestion, this happened months ago and is in the past. Author the article in the past tense with a clarification statement that some retirees have not yet received the increase due to their date of retirement.  

As always, actives deserve their benefits enhanced and retirees deserve their 3% COLAs.  

Plus, work on R-E-S-P-E-C-T and reinstate the Childcare Center, staff and parents, we’ve lost a treasure. [Had not seen center’s figures until today and the center was never discussed by management publicly until August 2023. The Center situation should have been presented at a Board meeting years ago.]