ORTA to monitor which legislators respond to and support our issues -- and which ones don't; and will share the information with us

From ORTA Blog

December 20, 2025

ORTA Weekly Update - December 20, 2025

This will be the last weekend update of 2025 unless there is breaking news. We hope everyone enjoys the final days of 2025.

As mentioned last week, the arguments in the Wade Steen and Dr. Rudy Fichtenbaum case were submitted to Judge Karen Held Phipps on Monday, December 15, for adjudication. The Judge does not have a timeline for a decision.

The most recent ORTA news is that the ORTA Executive Council held its monthly meeting on Wednesday, December 17th. The most relevant information to share is that ORTA is convinced that the 2026 election year is crucial for its members. Three key issues separate themselves. The first is that Ohio retired teachers lack adequate inflation protection. The second issue goes hand in hand with the first: Ohio legislators are underfunding the STRS pension plan because their Employer Contribution Rate lags the national average by a wide margin. The third issue is that the Ohio Legislature is using taxpayer dollars for vouchers, thereby diverting money away from public education.

The ORTA Executive Council has determined that we need to keep these critical issues in front of Ohio legislators every month. The first correspondence will be sent out before the end of the year. ORTA will keep a record of who is responding to and supporting our issues, and who isn’t. When we have enough data, we will be sharing the information with you.

My Best,

Dean Dennis, Chair
ORTA Executive Council

 Voice of Ohio Teachers

Go HERE to keep up with John Curry, Angela Selar and some others whose names you will likely recognize. It's a fast-growing public group, and you are invited to join!

Trina Prufer's sobering words to STRS board, December 11, 2025

"Ohio had not, in modern history, ever used its police powers to inflict such concentrated, permanent financial harm on a single population—particularly of elderly individuals. And it did so, without transparency or warning. The combination of legislative chicanery and fiduciary silence makes the harm unprecedented."

From Trina Prufer

December 15, 2025

Ohio’s Police Powers and Contract Nullification 12/11/25

My name is Trina Prufer and I am a retired School Psychologist. My late husband was a college professor having taught for 40 years. Although I receive both pensions, neither is in compliance with the contracts I signed in 2003 and 2008. I have lost more than a hundred thousand dollars.

I want to address a question: Prior to 2012, had the State of Ohio ever used its police powers to harm a single group of individuals as severely as it did when it eliminated the COLA for STRS retirees?

The answer, looking at Ohio’s history, is no. In the past, Ohio had used its police powers to address emergencies, eminent domain and to protect the general public.

But in 2012, the State used this little known authority to nullify retirees’ existing contracts. This was not a minor adjustment…and it was not done in plain sight. In fact, what occurred was just the opposite. It was done by inserting the “fiscal integrity” language in the ORC which was designed to confuse and delay any recognition of its consequences. And it targeted only one group: STRS retirees, many already elderly, 70% women, with no way to replace the income lost. And here is where the harm deepens:

STRS also hid its consequences, even though it was bound by a fiduciary duty to forewarn.

A fiduciary must disclose material risks,

communicate clearly and honestly,

protect the reliance interest of its members—especially retirees,

And must never allow misleading or incomplete information to shape member expectations or decisions.

Retirees were not told that their COLA had effectively been eliminated permanently. They were not shown projections of how their purchasing power would erode year after year. They were not warned that the retirement contract obligation had been fundamentally rewritten under the State’s police powers.

As a result, thousands of retirees entered the next decade unaware of the magnitude of the financial harm they would face. They were denied even the opportunity to adjust or prepare, because they were never given the information a fiduciary is required to provide.

In any other context—banking, insurance, employee benefits—nullifying a contract by removing a vested benefit and obscuring its consequences--would be labeled deceptive, or perhaps even fraudulent. But here, it was simply called “reform.”

It is important to state plainly:

Ohio had not, in modern history, ever used its police powers to inflict such concentrated, permanent financial harm on a single population—particularly of elderly individuals. And it did so, without transparency or warning. The combination of legislative chicanery and fiduciary silence makes the harm unprecedented.

The time has come to recognize this monumental wrong and do something about it.

Dan MacDonald's report on the December 11, 2025 board meeting

From Dan MacDonald

December 14, 2025

DECEMBER 2025 STRS BOARD MEETING

I attended the December (12/11/2025) Board meeting. On Wednesday, the Board was active in three committee meetings: the Governance Committee, the Investment Committee, and the Audit Committee. The Governance Committee focused on a December 2025 thru August 2026 month by month, week by week, planner with 10 areas: skills matrix, information requests, new committee structure, committee schedules and workplans, communication strategy, policy framework, trustee orientation, performance management, succession planning, & risk management. The slide was daunting, and the committee was pushed by outside consultant Global Governance Advisors for input. It was a tedious committee meeting.

The Investment Committee meeting followed. Net total return for October 2025 was a positive 1.2% bringing the net fund return for FY 2026 to 6.1%. Total investment assets ended October at approximately $105.0 billion. November preliminary total net return was a positive 0.5%, bringing the total net return for FY 2026 to a positive 6.7%, total net assets to approximately $105.3 billion, up $4.7 billion since July 1, 2025. [This is all good news.] Outside consultant CEM then compared STRS to 269 funds reporting that STRS was consistently in the upper quarter and our internal investment staff saved $145 million compared to peers' medium, medium external costs using a set from the two hundred sixty-nine that were comparable to our fund investment portfolio. Outside consultant Albourne presented STRS fee validation. [In other words, Albourne checked all fees paid as contracts specified.] Outside consultant Meketa and outside consultant Callan both followed with quarterly performance reports. Both consultants showed STRS investments in the upper quartile to peers. The meeting closed with the semiannual broker evaluation and associated policies. [Not much to comment on here except that STRS has many outside consultants reviewing its investment department and all of them highly praise our staff. Real Estate has not recovered from 2020 COVID, but it is difficult to sell properties. Real Estate is truly a long-term investment which pre-Covid, more successful. STRS performance in domestic equities has also lagged in the last three years. Staff acknowledged.]

The last committee to meet was the Audit Committee. STRS has internal independent auditors within its staff. The chief auditor discussed 2025 audits and 2026 scheduled audits.

Thursday Board meeting started promptly at 8:30 am with the approval of minutes. Outside consultant Crowe verified STRS’s 2025 financial closing statements with an unmodified opinion. [In other words, the closing statement numbers and calculation from June 30, 2025, were all verified.] The Member Benefit Department then presented a Sustainable Benefits Plan decision matrix. Heavy discussion of COLA and Years of Service were thoroughly dissected. [Outside consultant Cheiron’s de minimis presentation at the April 2026 Board meeting should be a “must attend.”  Board members are still divided over restoring benefits, which some call enhancements, length of time to be 100% plus funded, fear of the state legislators, the whole concept of de minimis.] Outside consultant CEM presented its study on the benefits department services to its members, active and retired.  STRS did well in cost and services compared to peers. Better services with comparable costs. The Benefits Department presentation concluded with discussion on the Disability Program, focusing on the termination of disability benefits, the definition of teaching service, the independent medical exams, and clarity on the board’s action related to approvals, denials, and terminations. [Very tough decisions are made by the Disability Review Panel with Ohio Revised Code, STRS staff and physicians' findings in conflict to elected Board members knowledge of teaching.]

Following lunch, Science Teacher Chris Monsour from Tiffin City Schools was recognized as Ohio’s 2025 Teacher of the Year. Next was Public Participation. Nine persons spoke, 8 retirees and one former STRS staff member. Global Governance Advisors returned to focus on strategic planning. Charts were shared regarding Board hours met for STRS, CalsTrs (CA), and TRS (Texas). Effective Committees and Best Practices slides were shared. The scheduled hour turned into 12 minutes. The discussion bogged swiftly, and Executive Director Toole intervened. [It was a timely intervention.] The Board’s lawyer then did some legal training to fulfill ORC requirements of 171.50 and 3307.051. Topics included Compliance, the Open Meetings Act, and the Public Records Law. [Fact. There were 505 Public Records requests in 2024.]

The Executive Director’s Report covered pension system updates and general updates plus the honoring of Greg Nickel, who is retiring from the benefits department of STRS. [Read my Public Participation, huge loss.] The meeting ended with Routine Matters and no Old/New Business. Crafty Chair Fichtenbaum addressed his allowance of Greg Nickel’s name during Public Participation by 4 presenters. Participants are not to use names if you closely listen to the reading of Board policy before Public Participation.

The next Board meeting is scheduled for February 17 & 18, 2026, a Tuesday and Wednesday. There is no January meeting.