ORTA Blog: Lavish unearned bonuses and ridiculous salary increases at STRS Ohio

From Robin Rayfield, 

Executive Director of ORTA

November 9, 2023

https://www.orta.org/post/lavish-unearned-bonuses-and-ridiculous-salary-increases-at-strs-ohio

Lavish unearned bonuses and ridiculous salary increases at STRS Ohio 

While retirees have watched their purchasing power erode by nearly 25% over the last 7 years, and while active members continue to pay more in retirement contributions than the value they receive in benefits, the people responsible for the problems at STRS continue to receive lavish unearned bonuses and ridiculous salary increases.

After the STRS budget was passed in August 2023 by a 6-5 vote (Fichtenbaum, Sellers, Jones, Foreman, and Davidson voting NO), Executive Director Neville increased the salaries of the investment staff by an average of 17%. Several of the ‘fattest cats’ received salary increases of over 45%!

Talk about tone-deaf leadership.

It is time for major change at our pension!

Click here to view the PDF version of the list of STRS Ohio investment staff raises in 2023. (Partial list below)