Trina Kay Prufer: It would seem that everyone in the STRS ecosystem prospers, except teachers. And that is exactly what it appears it was designed to do.

From Trina Kay Prufer 

October 18

STRS provides financial security …. just not for teachers

It is is becoming more and more apparent to me that STRS is premier in one respect…  it is uniquely designed to redistribute wealth from teachers into the pockets of senior management, investment staff, Wall Street and indirectly into the campaign coffers of politicians. All the levers of power are locked away from teachers, and put into the hands of those who can manipulate and profit. 

Just look at the OUTCOMES of a decade under “reform” legislation. In retrospect, it was a pretty clever plan, all in plain sight.… a floundering retirement system justifies turning itself into a cookie jar by controlling all decision making through RADICAL ”reform” legislation. Retired teachers become poorer by the month due to inflation, actives pay more into the system than the defined-benefit is worth and many disabled become destitute. 

If the STRS system were truly in “reform” or rescue mode, the first round of belt tightening would be cutting unnecessary management and investment costs. Reducing benefits for those already retired would be the LAST resort, not the FIRST, as teachers were made reliant and dependent on the benefit, and are thus the most vulnerable. However, what we see is just the opposite…STRS spends money as if it falls from the sky, with no regard for the sustainability of the system, or respect for membership. ..… that’s the tell. There is absolutely no recognition that retirement dollars are precious to employees curtailing monthly expenditures for a secure future. 

It would seem that everyone in the STRS ecosystem prospers, except teachers. And that is exactly what it appears it was designed to do.