Dean Dennis: Members aren’t "confused". They understand that STRS is continuing down the same path that created the problems in the first place.

Dean Dennis' speech to the STRS Board and staff

February 15, 2024

STRS -- Feb 15, 2024, Dean Dennis, retired after 35 years with Cincinnati Public Schools; ORTA President. 

On the STRS website there is an update from our acting executive director reassuring us that our pension is in financially sound; the message then goes on to provide the financial data. Then it continues, stating that in today’s world of social media there may be confusion as to the health of our pension, after which our acting director states, “take comfort that your benefits are here for you.” 

If the message is for legislature, the press or the public, this is a good message. If it is for members, it isn’t. 

(1) Problem: our benefits are not here for us.

(2) Problem: we all know STRS is sound only because you cut or withheld benefits members were depending on and increased the employee contribution.

(3) Problem: you shift blame to social media to deflect your problems instead of addressing them. Members aren’t “confused”; they understand that STRS is continuing down the same path that created the problems in the first place.

Now let’s discuss another issue: using STRS members' monies for legal fees to work against them. Members raised $75,000 for a forensic audit. The audit was over lack of transparency in investments. It ended up in a legal suit brought by Benchmark Services because STRS wasn’t turning over requested documents such as investment prospectuses. Problem is, STRS isn’t being transparent. Turn over the requested documents and stop using members' monies in legal fees to work against them. What is STRS hiding? 

Lastly, regarding Wade Steen: he was removed from his Board seat by the governor one day before the May 6th, 2023 Board election results were to be announced; why the governor decided to engage in this nefarious behavior is suspect. The law is clear. Why did STRS management allow this to happen? When STRS allowed Brent Bishop to be seated in Steen's place, it created a liability. It made business passed by the Board questionable. Members, through ORTA, have raised and spent several tens of thousands of dollars in legal fees trying to remedy this wrong. Now the governor is essentially thumbing his nose at the Tenth District Court of Appeals and STRS members a second time. Seating Brian Perera is irresponsible, against all legal precedent, and again invites liability to the Board. It might be in the best interests of the STRS staff but that’s where it ends. I hope STRS isn’t spending members' monies on the Steen case. Understand that ORTA will be looking to recoup all their monies spent on this charade.

ORTA advocates for the pensions and benefits of Ohio's educators, demands accountability from STRS Ohio, and lobbies Ohio's legislators to provide a strong and sustainable retirement system. We rely on membership dues to continue our work. Click here to Join ORTA!