What STRS reports vs. what I saw and heard at the 07/21/2024 Special Board Meeting

STRS says this: 

July 22, 2024

Revised Performance-Based Incentive Policy Approved

At the July special meeting, the State Teachers Retirement Board approved an amended version of the performance-based incentive (PBI) policy proposed last month. It includes potential reductions to the incentive payments for senior investment staff depending on certain metrics.

What I observed BEFORE the vote while attending the meeting:

An STRS-paid consultant, George Vincent (a lawyer from Cincinnati and a friend of Mike DeWine, so I'm told), told the board they would be violating their fiduciary duty if they didn't pay those bonuses (excuse me; PBIs, not bonuses (??) Hmm). 

Only TWO board members, Wade Steen and Julie Sellers, had the guts to vote against them. Again STRS got its way. Scare tactics, BIG time. Very FEW pension systems in this country even PAY bonuses, but STRS Ohio sure does -- HUGE, out-of-sight bonuses (at least $10 million worth, even in years when we lose millions, maybe billions) to about a hundred people. The teachers are stuck with paying for it, and we STILL don't get our COLA. 

What's wrong with this picture?