Cathy Steinhauser quotes Chris Tobe to the STRS board with his conclusion on STRS as "A System [That Is] Rigged for Staff, Not Teachers"

Cathy Steinhauser's speech to the STRS board

October 16, 2025

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

Huge Court Win For Teachers and Retirees by David Pepper was the headline for yesterday. Yes, the teachers did their due diligence by researching our situation, strategizing and filing a lawsuit. Judges saw the ridiculousness of this act by Rep. Adam Bird and Brian Stewart by sneaking the takeover of the STRS Board into the State budget at 1 a.m. June 30th to remove all but 3 teachers and give authority to choose political appointees.  Gov. DeWine then refused to veto the STRS section and signed it all into passage.   After a TRO was filed, the judge allowed it to stand until hearing both sides. And so we teachers win once again when we were granted a preliminary injunction yesterday in a lawsuit against the STRS Board. The takeover of OUR pension board is halted immediately! When DeWine was asked by a reporter about violating the Ohio Constitution with this unconstitutional power grab by the legislature, he said “I don’t think it’s unconstitutional”…really?? DeWine is a lawyer, former AG and current Gov.!! How can a politician stand there and lie like that??

This STRS pension Board is OUR retirement board. We have the right to democratically vote on teacher candidates of OUR choice whose ideals align with what we were promised. Former teacher board members voted the majority of the time AGAINST us, so a change was needed. All of you employed here have no skin in the game because you belong to a different pension system.  We teachers would like you to butt out of trying to take control by micromanaging every aspect of what we pensioners desire for OUR own pension. We would NEVER put our pension in danger as you all have.

You have a handout by Chris Tobe written August 25, 2025.  He is an expert in this area especially with the Kentucky pension system and has analyzed STRS.

I appreciate his Conclusion of STRS…A System Rigged for Staff, Not Teachers (in your handout)

1.  STRS investment staff are compensated like hedge fund stars without delivering hedge fund returns.

2.  Their excessive salaries and bonuses are out of line with the Columbus market rates, out of line with 

      peer pensions, and out of line with the mission of serving teachers.

3.  Reform trustees who fail to demand independent advisors and transparent contracts risk becoming

     complicit in perpetuating this system. 

And whoever gave Rep. Bird and Brennan the tour of this building surely gave them a glossed over account and look see around when they got their tour. Pulleezzz! The cafeteria was mentioned and IS losing money. (In your handout)

A reminder once again…FIDUCIARY: “A person who acts on behalf of another person or persons, putting their client’s interests ahead of their own, with a duty to preserve good faith and trust.  Being a fiduciary requires being bound both LEGALLY AND ETHICALLY to act in others best interests” *The Merriam-Webster Dictionary