If you are unsure why active and retired teachers are upset with the STRS Board and management and have increasingly embraced the reform movement in the last several STRS elections, all you need to do is look at the decisions of this board

Stephen Seagrave's Speech to STRS Board

December 14, 2023

My name is Stephen Seagrave. I am a retired educator from the Liberty Center Schools in Henry County with 43 years in education. 

We have a lot of retired educators who have fallen far behind financially and are really struggling due to inflation in recent years as well as the many years without the promised COLA. Active teachers also are facing difficult decisions due to the changes in retirement that have upended their long term planning.

If you are unsure why active and retired teachers are upset with the STRS Board and management and have increasingly embraced the reform movement in the last several STRS elections, all you need to do is look at the decisions of this board.

When we see that the low-cost S&P 500 Index Fund went up 15.9% for the 12 months ending last June, and the STRS Investment staff got huge bonuses for achieving a gross 7.68% return, it does not make sense to us. Any teacher can tell you 7.68 divided by 15.9 equals 48.3%. In the real world of the classroom this would be graded as an F.

So, teachers are working longer and doing without the promised COLA while huge bonuses are paid to people who are underperforming what could be done if our member’s money was invested in a diversified selection of broad based, low cost, total market index funds.

Nevada’s STRS has two employees managing $55 billion seeking to match total market returns using mostly index funds. It is time for this board to follow their example.

Stephen Seagrave, President Elect

Ohio Retirement for Teachers Association