Trina Kay Prufer: If STRS never intended the cola to be guaranteed, why is this not NEGLIGENCE?

From Trina Kay Prufer

October 6, 2023

The lie, the cover-up and negligence

I am trying to find logic in this latest lie. The original lie is that the cola was never guaranteed. Now, what Neville is saying is that STRS staff made a mistake (a mistake that lasted 20 years) and they somehow ”forgot” to put any qualifiers on the “ 3% cola is granted” statement in the booklets. Also, Neville is claiming, “ actual benefits will be paid in accordance with STRS law in effect at the time of retirement” only meant the base benefit, even though this statement was changed later to mean current law.

This “small” mistake (leaving out any qualifiers such as ” cola is dependent of board policy”) has cost 150K teachers their financial security in retirement as teachers needed to know the necessity of planning for another source of income. Also, as Neville claims, STRS never intended the cola to be permanent, where were all the workshops, classes, and advice in STRS manuals preparing teachers on how to save for this eventuality?

Teachers were HURT by this mistake, and STRS was NEGLIGENT in not warning us, especially as STRS knew, or should have known, the information they provided was false. In fact, STRS had an entire legal department, whose job it was to write and/or edit and check all their documents for accuracy and legal liability. In fact Neville was an attorney for STRS at that time.

If STRS never intended the cola to be guaranteed, why is this not NEGLIGENCE? The key term here is INTENT. They cannot claim they did not know the cola could be taken away later, as Neville is telling us they knew. Remember, STRS is in uncharted waters here. There has never been a teacher retirement system, without social security, which has done this to their membership...and now they want to attain 100% funding, further amplifying our monetary loss.

Trina Kay Prufer: Stupidity and lying are not a good look for the supposedly 3rd largest premier pension system in the US.

From Trina Kay Prufer

October 5, 2023

 If, STRS always intended the cola to be variable, but fooled us into believing it was guaranteed (so we would not take the plop or account withdrawal) why is that not fraud? If, as I, and countless others, believe that STRS fully intended to fulfill the annual 3% cola promise, but it was Neville who had the bright idea of just telling us it was never meant to be guaranteed, he is LYING in ALL of these public meetings. On this count, he should be fired, as the lie is not only stupid, it tells the world STRS is a corrupt organization. You can’t have it both ways. Stupidity and lying are not a good look for the supposedly 3rd largest premier pension system in the US. Billions are at stake here… we need the TRUTH.

Trina Kay Prufer: What I learned (after attending two STRS town hall meetings) is that the STRS system, under its current management, is too far beyond redemption to ever meet the needs of teachers.

From Trina Kay Prufer

October 5, 2023

What I learned after attending two STRS town hall meetings…

I must admit that after attending two STRS town hall meetings in two weeks that my negative opinions of STRS have only intensified. On the positive side, it was wonderful being able to meet and talk with so many retired and active teachers about our experiences and mutual concerns. Teachers are truly dedicated, hard working and smart…. and no one is being fooled by the dog and pony show presentation.

On the negative side, I was able to see up close the personalities involved with the institution. There is an almost surreal cheerfulness and friendliness evidenced by the staff who accompany Neville. I don’t doubt that they are probably very nice people in their personal and professional lives, however the “willful blindness” to the financial plight of teachers can’t be hidden behind a facade of being helpful. They are smart and know exactly what our financial futures will hold. Despite this knowledge, the STRS position is that not fulfilling promised obligations is perfectly acceptable and normal. To staff, the written word in STRS documents mean nothing of any consequence.

Perhaps most significantly, I learned that Neville functions in an ethical and moral realm devoid of integrity. He seems to have no qualms about shading the truth, manipulating the facts and statistics and outright lying to attain a financial advantage. That is what his presentation tells us.

At his most egregious, why aim for 100% funding, which will take another 11 years, when you know the losses for teachers grow exponentially, leaving teachers in financial peril? Why tell teachers they were never entitled to the benefits plainly written into STRS documents? He knows perfectly well the cola was guaranteed, as the actuarial amounts owed were programed into STRS computers and calculated at the time of retirement. It was the law; it was the pension plan design approved by the State of Ohio. Does he have no conscience at all?

Neville belongs in the private sector, perhaps representing the corporate interests of the rich and powerful. He should have no place in a retirement system created to pay benefits to teachers. STRS has lost the trust of teachers as it abandoned its core mission decades ago. What I learned is that the STRS system, under its current management, is too far beyond redemption to ever meet the needs of teachers.

From Joe Lupo

October 1, 2023

Direct link to downloadable, printable PDF copy of The Mess at STRS. SHARE, SHARE, SHARE!!!

 https://drive.google.com/file/d/1AEB_3q0I1PEZ6VtaJ3tgTW7d-9CwDaCu/view?fbclid=IwAR1bP1M-LrLNutZ_7_4ZAqguHAyDhCSjcVkxwgZ4mEIekR8i5xPhV3Oude4

Just the facts, ma'm, just the facts

From John Curry

October 1, 2023

It's hard to argue with the facts, isn't it? Thanks to OhioCheckbook.com we now can see what's going on at STRS...and, it isn't pretty!

Yes, where ARE the ladies? Not much diversity here, either!

From John Curry

October 1, 2023

Top 110 STRS wages for FY 2022

From John Curry

October 1, 2023

STRS Top 110 wages for FY 2022 as taken from OhioCheckbook - from the Ohio Treasurer's office. Any amount in the light blue shaded area is a BONUS. The amount at the extreme right of the employees' name is the total salary.

STRS: Why change now? We've LOVED stealing your money all these years!

From Joe Lupo

October 1, 2023

A prediction and an admonition from one of our own

From James Carr

October 1, 2023

Many decades ago, I spent a few years as a Boy Scout. One of the few things I remember about the Boy Scouts is the motto: Be Prepared. Short and concise, it is good advice.

We were caught off guard by Mike DeWine's treacherous removal of Wade Steen from the Board. Should we have seen it coming? Probably not, because most of us, including myself, did not understand how desperate the enemies of reform have become. NOW WE KNOW.

I have little doubt that Dale Price will be removed from the Board in the next election. I also have little doubt that the combined forces of the STRS heirarchy, the OEA, Wall Street, and our own Ohio Politicians are going to spring more surprises to disrupt our efforts to reform STRS. Why wouldn't they, STRS in it's present format has provided them with billions of dollars of our money. They want our cash to continue to flow into their coffers.

The question is, what are we willing and able to do if they continue to unfairly impede our efforts to gain control of our own funds? We need to be prepared.

Guess who's next!!

From John Curry

September 30, 2023

One more and the REFORMERS take over STRS. THIS IS DOABLE!

How to get a PDF copy of The Mess at STRS

Go go the STRS Ohio Watchdogs site for a PDF file you can download and print. Please share with as many active and retired teachers as you can! 

https://www.facebook.com/groups/STRSOhioWatchdogs/