Trina Kay Prufer nails it again with "the retirement system from hell"

From Trina Kay Prufer

February 8, 2024

STRS - All the needless drama … and betrayal

STRS has a malevolent legacy of plotting and scheming behind closed doors and then blaming the governor or legislature for harming membership. Additionally, it gaslights about its financial obligations and produces videos claiming retirees are living a financially comfortable life. Is there any wonder STRS has failed on so many levels? Below are just a few examples..

The Wade Steen case - This is a textbook example of a CONSPIRACY gone wrong. Neville and “his” attorney claimed they knew NOTHING before the GOVERNOR decided OUT OF THE BLUE to terminate Wade Steen. Coincidentally, this happened precisely when control of STRS would have favored the reformers. Does anyone believe in the tooth fairy?

The ” reform” legislation of 2012 - This stripped retirees of inflation protection and added years to actives’ service for full retirement. STRS claims the legislature did it… on its own. STRS is just following legislative directives. Are educators really supposed to believe this?

The pre-2012 statue in the ORC conferring benefits to retirees AT THE TIME of their retirement - STRS claims this assurance never existed. Neville says retirees are “misunderstanding“ the ORC, their retirement documents, the benefit plan booklets, the STRS annual reports and their own ears at face-to face retirement conferences. If fact, those complaining are “ malcontents” and not sufficiently grateful for the benefits granted. Apparently there is some imaginary rule that says if the specific word ”guaranteed” is not in a document, STRS does not have any obligation to fulfill the obligations clearly stated in the d-b plan.

STRS is truly the retirement system from hell. I know these are strong words. What we have is a failed system with a penchant for conspiracies, lying, gaslighting and malfeasance. It would make a great movie… if only it had a just ending.

Trina Kay Prufer