Robin Beebe and an updated version of Mother Goose nursery rhymes for the STRS board March 19, 2025

Robin Beebe's speech to STRS board

March 19, 2025

My name is Robin Beebe. Retired teacher of mainly 4th Graders, 2nd Graders, Kindergarteners, a smattering of other elementary grades, and eight summers of Migrant Education. 35 years. Fremont City Schools and Perrysburg Schools. Retired coming up on 16 years. Please start the 3 minute timer now.

My speech has only ONE focus today. Please pay close attention. The loss of my 3% COLAs that were supposed to be paid in accordance with the LAWS IN EFFECT at the time of my retirement amount to a total of $119,242.56 and counting.... So, I have been musing once again on how many ways I can make my concern heard and the right thing be done to correct it?

Well, I have the privilege and great joy of taking care of our 3-year-old grandson three days a week and being a part of his world while his attorney parents work. Being well versed in nursery rhymes currently, let me share some that I have taken the liberty to "update". I title this "The 3% COLA ANTHOLOGY of NURSERY RHYMES: A VERY ABRIDGED VERSION". My apologies to Mother Goose

Twinkle, twinkle little 3% COLA

How we wonder where you are.

Up above the world and gone

Out of sight for you we long.

 

Twinkle, twinkle little 3% COLA

How we wonder where you are.

Row, row, row our 3% COLA

Gently back in place.

Merrily, merrily, merrily, merrily

Restoration is the perfect case.

 

Little Retiree Muffet

Sat on a tuffet

Looking for the COLA gone astray.

Along came the reinstated 3% COLA

Sat down by that tuffet

And Little Retiree Muffet shouted "HOORAY!"

 

The Itsy, Bitsy 3% COLA climbed up and out of sight.

Down came good news and the 3% COLA came back out.

Out came the reform Board and cleared up all the mess

And the Itsy, Bitsy 3% COLA really is the BEST!

Pat-a-cake, Pat-a-cake

Board members all.

Send us a 3% COLA

Just get on the ball.

Reinstate it, vote on it, and mark it for all to see.

And send out our retirement checks.

What justice that will be!

One, two, what are retirees to do?

Three, four, we all are getting poor.

Five, six, why were we so tricked?

Seven, eight, the Board is very late.

Nine, ten, give us our 3% COLA again!

It being March and just after St. Patrick's Day, I want to close with an old Irish Blessing for all of us in this room.

May the road rise to meet you.

May the wind be always at your back.

May the sun shine warm upon your face,

The rains fall soft upon your fields.

And until we meet again, 

May God hold you in the palm of his hand.

 

Robin Rayfield fills in the blanks for the STRS board about the "staff-induced chaos" and more

Robin Rayfield's speech to STRS board

March 19, 2025

Good morning,

My name is Dr. Robin Rayfield, and I am the Executive Director of the Ohio Retirement for Teachers Association and a STRS member.

First, I want to bring to your attention a significant development in the case brought by Attorney General Dave Yost against Mr. Steen and Dr. Fichtenbaum. After an almost year-long investigation, yesterday marked the deadline for Attorney General Yost to present evidence of “back door ties” between Steen, Fichtenbaum, and QED. However, Attorney General Yost failed to deliver any such evidence and abruptly ceased alleging that Steen and Fichtenbaum had received any money from QED, had any interest in QED, or had been promised anything by QED.

Media reports state Attorney General Yost’s suit against Steen and Fichtenbaum originated from information provided by STRS staff.

It is perplexing why certain STRS staff members are not held accountable for their actions that undermine the board’s integrity. Over the past two years, I have witnessed three examples of staff-induced chaos:

1. The STRS general counsel falsely informed this board that Governor Dewine’s removal of Wade Steen was legal, which was not the case.

2. STRS staff facilitated the illegal adjournment of a public meeting immediately after Wade Steen’s return to the board.

3. STRS staff hand-delivered a 14-page letter accusing Steen and Fichtenbaum of being bribed by QED, which was entirely false.

Second, I listened to the presentations yesterday. My takeaway is that the alts portfolio out performs STRS total return. This is irrelevant as the comparison should be against a passive index.

Surprisingly, this comparison was absent from yesterday’s materials, so I took it upon myself to compare the long-term returns of STRS’s alternative investments to the Russell 3000 Index. Not surprisingly, STRS’s alternative investments portfolio is being outperformed by the Russell 3000 by BILLIONS OF DOLLARS.

Finally, ask that the board draft and pass a resolution supporting Fichtenbaum and Steen in the AG case and staff publicly apologize to Steen and Fichtenbaum for insinuating that they were corrupt. If STRS wants to restore trust with stakeholders, it must begin by telling the whole truth, holding people accountable, and taking action. A couple of suggested actions would be to offer verbal support for Steen and Fichtenbaum and financial support for their legal expenses brought about as a result of staff actions.

Four elephants in the room: Dean Dennis tackles them all

Dean Dennis' speech to STRS board

March 19, 2025

More chaos at STRS as lawmakers again threaten to remove teachers' pension board voting powers

https://www.orta.org/post/ohio-lawmakers-may-remove-teachers-pension-board-voting-powers-as-chaos-continues 

ORTA Staff
March 17, 2025 

Ohio lawmakers may remove teachers' pension board voting powers as chaos continues

The following article from the media is yet another one-sided attempt to maintain the current management of the $90 billion in the STRS pension fund that has reduced promised benefits to the hundreds of thousands of public educators in Ohio. This reporter has repeatedly written articles critical of the ‘reform minded STRS board members’ efforts to bring transparency to the investment practices of STRS. These practices have resulted in draconian reductions to promised benefits of hundreds of thousands of retired educators in Ohio.

When challenged with the transparency issues by its members STRS has ignored the concerns of its members and continued the opaque investment practices. By ignoring its membership, the status quo board members have been replaced through the democratic process with reformers winning the last six elections. Now the media, and elected officials in Ohio have joined forces again to thwart the democratic process through threats to remove duly elected teachers from the STRS board.

Because the majority of board members have done their fiduciary duty and have asked questions about the alternative investment program, the elected leaders in Ohio have threatened to change the make up of the pension board. For over one hundred years teachers have had a majority of the seats on the STRS board. For over one hundred years these elected members have bent to the will of Wall St. and the politicians that are on the payroll of Wall St. Now that a few brave souls have asked too many questions, these people are in danger of having their voices silenced. With the media firmly in lockstep with maintaining the status quo much of the reporting must be taken with a grain of salt.

Although the most recent article does not provide any added information, and simply re-hashes what has already been reported, in the interest of providing any information to our members ORTA is providing this on our website.

Dr. Robin Rayfield, Executive Director

Ohio Retirement for Teachers Association

Read Morgan Trau's article at https://www.news5cleveland.com/news/politics/ohio-politics/ohio-lawmakers-may-remove-teachers-pension-board-voting-powers-as-chaos-continues 

Watch the story on News 5 Cleveland on ORTA's website:

https://www.orta.org/post/ohio-lawmakers-may-remove-teachers-pension-board-voting-powers-as-chaos-continues