Robin Beebe's Wizard of Oz lesson for STRS

Robin Beebe's speech to STRS

August 15, 2024

My name is Robin Beebe. Retired teacher of mainly 4th Graders and Kindergarteners. 35 years. Fremont City Schools and Perrysburg Schools. Retired for 15 years.

First of all...Welcome, Michelle Flanigan!!!

I have been musing on the parallels and similarities found in “The Wizard of Oz” and the Mess at STRS. Yes, truly a TORNADO of epic proportions has hit our pension.

Now just what might a sequel look like? “The STRS Version of The Wizard of Oz, Part 2”.

Casting Call for the following:

The Tin Man – requires finding one’s heart to feel emotions, compassion, care for others.

The Scare Crow – requires finding one’s brain and confidence in one’s intelligence.

The Cowardly Lion – requires finding courage within one’s self.

All these roles could easily be filled by each and every one of our Reform Board Members. HEART. BRAINS. COURAGE.

There are additional roles to be cast. Who shall play the role of the Wicked Witch of the West, the Flying Monkeys, the conniving , dishonest, manipulative, behind-the-curtain Wizard of Oz himself? He who tries to fool everyone. I will leave that to you, the listeners here today, to figure out. It doesn’t take a Rocket Scientist, does it?

Where is all this heading, you may ask?

The Reform Board Members need to follow the advice that Glinda The Good Witch gives to Dorothy.

“You’ve always had the power, my dear, you just had to learn it for yourself.”

You see, ever since the Reform Board became the majority, you always had the power. This is your Ruby Slippers, Click Your Heels 3 Times Moment. You now hold the Master Key!!!

The Number 1 Take Away, and this is CRITICAL, is that you DO have the power to VOTE, CANCEL, STRIKE DOWN, REVOKE the 2021 Resolution (ORC Section 3307.04) that authorized the Executive Director to legally seize control over the STRS Board.

Rescinding/nullifying this 2021 Resolution can end the injustice immediately and the power will be returned and restored to the STRS Board where it rightfully belongs. All future decisions, votes, and reforms can flow from there. Board decisions can be based on a fiduciary duty to all teacher STAKEHOLDERS. This is the only true fiduciary duty the Board is obligated to have.

So….The intimidation can stop.

The bullying can stop.

The disrespect can stop.

The Sword of Damocles will no longer hang over your heads.

And may justice prove more powerful than greed.

Priority Agenda Item: The STRS Reform Board should call for a Vote of No Confidence in the Executive Director and in the Acting Executive Director, as well as a multitude of other STRS staff and REPLACE them immediately.

Remember, MAJORITY Reform Board Members, you truly have held the POWER all along. You just have to learn it for yourselves!!!

Wand ****

Bob Buerkle to STRS board: How can there be a decade of pension system improvements like STRS has had and still justify the denial of the COLA that our retirees were promised in Ohio Revised Code?

Bob Buerkle's Speech to STRS Board
August 15, 2024

CONGRATULATIONS TO NEW STRS BOARD MEMBER MICHELLE FLANIGAN!!!

WELCOME ABOARD! YOU ARE A DEFINITE ASSET TO THIS BOARD. THANK YOU FOR TAKING ON A JOB THAT WILL NOT BE EASY!

Cathy Steinhauser to STRS board: ORTA Executive Director has discovered that 75% of ALL PENSIONS DO NOT GIVE bonuses which proves that STRS has been lying to those in this room by claiming it is common to award bonuses!

Cathy Steinhauser's speech to STRS board

August 15, 2024

Cathy Steinhauser – 35 yrs., satellite teacher of Family & Consumer Sciences through Pickaway /Ross CTC for Circleville City Schools.

I feel as though I’m talking to a brick wall, not unlike teaching middle schoolers for 33 of my 35 yrs. It seems as though the use of the word FIDUCIARY has gotten out of hand; it’s been misused by several who manage this pension so I did some more research on what makes a good fiduciary and I’ll share a few of my findings.

1)  Fiduciaries are charged with the highest legal duties of loyalty and prudence specifically with the duty to act solely and exclusively in the interest of their beneficiaries.  In the case of state pension trustees, these fiduciary duties require that state assets be invested solely to maximize FINANCIAL return.

2) The most common fiduciary relationships involve legal or financial professionals who agree to act on behalf of their clients.  A lawyer and a client have a fiduciary relationship, so does a trustee and a beneficiary as well as a corporate board and its shareholders.

3) School districts, assuming fiduciary duties carry the weight of the interests of all teachers participating in the retirement plan and make proper plans to help fund their teachers retirement.

4) There are several warning signs that your financial fiduciary may not be honest: there are high fees involved, hidden costs and a lack of transparency which sounds like STRS. 

STRS exists to pay teachers. I couldn’t find any information whatsoever about a pension fiduciary also obligated to being a fiduciary to the staff…unlike what the AG representatives claim.  However, a pensioner, John Curry, through a FOIA request, posted a Memo from July 1, 2022 on the PBI Program and it says “Further, the Program may be interpreted, amended, rescinded and/or terminated by the STRS Ohio Board at any time.” Guess no one saw that Memo or remembers it.

STRS staff do not pay into this pension and therefore have no right to receive bonuses. If STRS staff don’t like a “no bonus” decision in the future, they are free to find employment elsewhere. As a matter of fact, the ORTA Executive Director has discovered that 75% of ALL PENSIONS DO NOT GIVE bonuses which proves that STRS has been lying to those in this room by claiming it is common to award bonuses…stop the gaslighting and come to terms with the real working world! We need leadership by example in shared sacrifice but that has yet to be accomplished so perhaps pensioners and this Board need to move on to new management leadership instead of all this micromanaging from the AG’s office.

What is the STRS board hiding from its members? Robin Rayfield to STRS board 8/15/2024: I encourage this board to direct the management team at STRS to withdraw the challenge to the magistrate’s ruling and comply with the order, immediately.

Robin Rayfield's speech to STRS board

August 15, 2024

Good morning. My name is Robin Rayfield, and I am a STRS retiree and the Executive Director of ORTA.

In 2021 ORTA helped to raise funds to conduct a forensic audit of STRS by former SEC lawyer and whistle blower Edward Siedle. Mr. Siedle sought records that would provide concrete data to complete his forensic audit. Specifically, Mr. Siedle asked for documents related to fees, costs, and expenses related to over 20% of the pension fund in the asset class called ‘alternative investments’. STRS refused to provide the documents Mr. Siedle requested, stating that these documents were private and contained information that was not for public consumption.

Mr. Siedle was not alone in being prevented from seeing these documents as STRS’ own consultant (CEM) was not privy to these documents and, instead, used industry standards to calculate their figures. At a public meeting of the STRS board Wade Steen asked to see the documents to fulfil his fiduciary duty as a trustee. Mr. Steen was also denied access to the documents.

Mr. Siedle recently received a magistrate’s decision ordering STRS to provide Mr. Siedle with the documents he requested. Instead of complying with that order, STRS has challenged the magistrate’s order, preventing the transparency STRS members’ demand. What is the STRS board hiding from its members? Did the STRS management team make the decision to challenge the magistrate’s order? Why not comply with a lawful order that provides a modicum of transparency for our members and lifts the veil of secrecy that has plagued our pension system for decades?

I encourage this board to direct the management team at STRS to withdraw the challenge to the magistrate’s ruling and comply with the order, immediately. If gaining the trust of the members of STRS is important, then ordering the management team that is at the heart of the mistrust of STRS by its membership, then the answer is obvious.