Dan MacDonald to the STRS Board: Is the STRS Board's financial plan de minimis?

Dan MacDonald's speech to the STRS Board

December 14, 2023

PUBLIC PARTICIPATION: IS THE STRS BOARD’S FINANCIAL PLAN DE MINIMIS? 

Mr. Chair and members of the Board good morning and happy HOLI-DAZE. 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. 

I did say daze. I missed last month’s educational and planning meeting because I was requested to be in Washington, D.C. – where certainly they have their own problems – and right here, in this very place, news is being made. Since the STRS eUpdate didn’t report its own story, I had to rely on fake news agencies like newspapers and television stations. Continued STRS attitude of reporting no bad news, only glowing awards and successes. TRANSPARENCY. Where is it? 

More seriously, I want to thank the Benefits Department for their ongoing efforts to right medical situations that suddenly arise. You had a retiree that broke her leg. She needed a wheelchair and Aetna gave her many places to contact, but none could provide a chair for 9 to 12 weeks. The day after I sent her email concern to the STRS benefits department, she received a call, and the department went into action. Eight days later, last Friday, a chair was delivered. Facility charges are being added to retirees’ bills. Once again, the Benefits department has stepped in, corrected the ones presented, and in the near future, will have Aetna audit for this mistake and reimburse other retirees who didn’t realize they should not have been charged. Finally, the Benefits Department is preparing something to address programs like WellBe, AetnaCare, Signify Health. All these programs contact retirees, but with seniors being scammed, are worrisome to seniors, especially allowing someone into their homes. Kudos to the Benefit’s staff for their hard work. 

At October’s meeting Cheiron presented preliminary numbers on the condition of the general fund and healthcare fund. Improvement was shown. How long will we follow Cheiron’s, and now Board’s, de minimis plan to enhance benefits. So you know, de minimis is an adjective which means too trivial or minor to merit consideration. The Board and STRS staff need to redevelop a financial plan to reach a permanent COLA and 30-year retirement eligibility. I do not think there is currently one in place. The dashboard/scorecard was something put in place to test the fund and was part of pension reform, a plan. Actives and retirees did not like this plan, but it was a plan. Boards before you sought solutions, boards after you will seek solutions. All this is well and good, but you are the Board. What's your swipe at a solution? It appears to be the de minimis plan because that is what is being used. 

As always, actives need their benefits enhanced and retirees need their 3% COLA restored.