Will Tim Myers attend the June 9 meeting in Lima at Apollo Career Center?

From Dennis Leone, May 24, 2009

Folks……it is this simple: Tim Myers knows that certain people in attendance on the 9th (Leone and Stoll in particular) will hold his feet to the fire and ask him to explain his public actions and public statements – such as:

1. Why, Tim, did you tell the Elida teachers in writing that their pensions were secure?

2. Why, Tim, did you put in a NW-OEA newsletter that reducing bonuses aversely impacts the BASE SALARIES of investment staff?

3. Why, Tim, didn’t you want stop the FY 2009 bonuses in September after the backlash of paying $6 million in FY 2008 bonuses (which you voted for, Tim) and after STRS lost $12 billion in assets in the preceding 10 months?

4. Why, Tim, did you vote no on the original motions to: (A) Suspend the bonuses; and (B) Establish a $65 billion threshold for assets in order to trigger maximum bonus potential in the future?

5. Why, Tim, after you voted no in January to suspend the bonuses, did you say publicly (and were quoted in the Columbus Dispatch) that the STRS Board was “breaking a promise” by suspending the bonuses? Why did you say this, Tim, when all investment staff received a letters in July of 2008 that the said the bonus plan could be modified or terminated by the board at any time for any reason?

6. Why, Tim, did you allow Leone’s motion on May 15, 2009 (to NOT pay the 7/12ths bonuses for FY 2009) die without a second?

7. Why, Tim, did you recently write to a supt and say that the board might lose 10 times the cost of the 7/12ths bonuses in litigation if the bonuses were NOT paid? Wouldn’t possible litigation be a non-issue, Tim, had you and your fellow board members stopped the bonuses last fall, when you could have?

There is much more………..it’s really not hard to see why Tim Myers might avoid a meeting where he could be asked these questions.

Dennis Leone

An oldie-but-goodie from Dennis Leone (October 2004); better get out your Pepto Bismol!

From Dennis Leone, October 22, 2004
Subject: STRS Initiated (?) Cost-Saving Measures

TO: All Ohio Superintendents
FROM: Dennis Leone, recently retired Chillicothe supt of schools

On October 12, 2004, STRS Executive Director Damon Asbury sent all of you an e-mail entitled "Cost-Saving Initiatives." His e-mail was in response to a front page Cleveland Plain Dealer article on October 10 that was headlined "Retirees Appalled By Pension Fund Perks -- Workers Enjoy Tuition, Child Care Benefits."

While I do not dislike Damon Asbury, and appreciate the enormity of the task he has at STRS, I take issue with the claims in his e-mail and his insinuations of STRS-initiated managerial and budgetary changes. Not one of the ten changes he listed -- not a single one -- would have occurred had it not been for a group of articulate, persistent, strong-willed, and pushy retirees who pushed and pushed and pushed. Also, it deserves noting that the ten changes he listed in his e-mail did not address the subjects of the October 10 Plain Dealer article, which were:

1. Between 2000 and 2002, when STRS assets dropped a huge $12 billion, the STRS Board and Administration handed out college tuition reimbursements to their staff totaling $1.1 million. Remember, this occurred during a time when active STRS members were informed that their contribution rate would be increasing from 9.3% to 10.0%, and at a time when retirees were told their health insurance premiums would significantly increase and that their 13th check would be no more. The Plain Dealer pointed out that STRS staff members can receive up to $7,000 per year for college tuition. How many school districts give their teachers this kind of money for tuition reimbursements?

2. A work week for full-time STRS employees constitutes 37-1/2 hours. Unknown to almost all, this apparently has been in effect since the 1960's.

3. While STRS claims that the child care services they provide employees are now cost-neutral, here's the full story: Prior to this school year, the pension fund forked out over $500,000 per year so staff could have child care services inside the STRS headquarters. After actives and retirees expressed their outrage over this, employee fees were increased and it brought the excess amount down to $190,000. STRS then announced its plan to "cut" the remaining $190,000: Certain employees at STRS will voluntarily work additional hours per week, and not be paid for the additional work. This, in the eyes of STRS, is a way to "cut" the budget. I say it is wrong, and -- for all of us -- would likely represent a Fair Labor Standards Act violation.....not to mention the fact that school boards and the public would never accept such an idea.

4. It was recently revealed that employees at STRS who adopt a child are given a $5,000 cash gift by our pension fund. The rationale at STRS for this? It is because Dave Thomas at Wendy's recommended it to Columbus-area businesses some years ago. I say we also need to ask Ronald McDonald how to spend money from our pension fund. Why not? It makes as much sense.

I gave the following speech to the STRS Board yesterday, October 21, if you wish to read it:

"Members of the Board, I am here today to do two things....to make an observation and to make a request. I have noticed over the past several months a common theme in remarks coming out of STRS. Former Board President Eugene Norris, STRS press releases and newsletters, and both Damon Asbury and current Board President Joe Endry all have had an obsession to say: (A) Beware of those who continually criticize STRS; (B) Be patient with us at STRS; and (C) Look at what we done at STRS.....just look at that changes we have made.

"I am here to remind you that not one of the changes that have occurred in the past 16 months -- not one of them -- would have occurred had you not been pushed and pushed and pushed. You act like, oh yes, these are STRS initiatives. The truth is that if it had not been for a good number of articulate, persistent, strong-willed, and pushy retirees, none of the changes would be in place. And if you think I am wrong about this, you are kidding yourselves.

"There would no cuts in the STRS budget, no reductions in staff, no policy changes. Herb Dyer would still be here. Eugene Norris would still be on the Board. There would no John Lazares, no Dave Speas, no Judith Fisher on the Board. There would be no additional retiree on the Board in 2005. There would be no Senate Bill 133, and there would not be new group like CORE (Concerned Ohio Retired Educators).....not a chance. No new oversight mechanisms would be in place, no new disciplinary procedures for Board members who misspend pension fund money would be in place. There still would be a boatload of STRS credit cards and pension money being spent on things like alcohol, parties, concert tickets, Kings Island, baseball games, thousands of poinsettia plants for this building, and of course, the huge bonus checks for STRS non-investment staff.

"How do I know? There are several examples. When the staff here hit its all-time high of 735, the Board approved a budget to go even higher -- up to 765 or 775, and this was at the peak of the decline of assets here. Mr. Endry, when you spoke to the Allen County Retired Teachers Association last year, you said the didn't even know about the bonus checks. And Joe, do you know who shouted the loudest back in 1995 about the money STRS Board members were spending on flying around the country? You did, as ORTA President. Then when you got on the Board yourself, a year later you went to Anchorage. The next year, you were one of 7 Board members -- that's right, 7 of you -- went together to the same meeting in Boston (when one or two could have gone and brought information back for the rest). I've heard that you're going to Oregon with Board member Debbie Scott for STRS business soon. I hope that's not true.

"None of you have said in your speeches and in your written communications: "We screwed up." You've said it in small group session, but never publicly. Board member Michael Billirakis said it publicly about the artwork that was purchased here, after months of the staff inappropriately implying that they were bound to follow a new construction guideline that didn't even apply to STRS. The point is, after Michael said what he did, everyone basically shut up about it. You want people to believe that what's happened here is due to STRS initiatives. Not true. You had to be pushed and pushed.....that's why the changes have happened.

"I urge all of you to be cautious of saying "no more changes until see the results of the independent audit." I urge you to listen and respond to what the membership of STRS is telling you it wants.....whether it involves staff sizes, child care services, your 37-1/2 hour work week, huge tuition reimbursements for staff, and another one you've chosen to ignore that I brought up last year. You are still paying a cool $1 million per year if full-time STRS staff members decide to cash in up to 18 days of unused sick leave and unused vacation leave. You offer a nice benefit to staff, then you pay them not to use it. That's about as smart as saying that you're going to cut $190,000 from your budget by asking certain employees to work more hours, then not pay them for the additional work.

"You need to remember that it may not matter to us out here if you are told by the independent auditors that the pension board in New Jersey goes to Honolulu each year, or that the California pension board gives out big bonus checks to staff each year. And it really doesn't matter to us if you know of a few school districts who allow teachers to cash in unused sick leave every year? What matters is whether YOU are meeting the spirit of ORC 3307.15 -- which dictates that ALL of your decisions are to benefit the participants and beneficiaries of STRS. What matters is whether YOU are being responsive to the membership of STRS.

"In closing, Herb Dyer said to the Ohio Retirement Study Council in July of last year: "No one told me run a cheap system." A week later, State Representative Michelle Schneider said in the Cincinnati Enquirer -- referring to Board expenditures and STRS staff perks: "They're like kids in a candy store." It's now up to you, as Board members, to dispel both comments."

Thank you.

Dennis Leone

Columbus Dispatch on 5/15/09 bonus vote

Board eliminates bonuses in bad years
THE COLUMBUS DISPATCH, May 16, 2009
By James Nash
Dozens of investment officers for the state teachers' pension will lose their merit bonuses completely if the fund dips into the red.
The board of the State Teachers Retirement System voted yesterday to eliminate merit bonuses for investment officers in years when the pension fund posts an overall negative return.
For months, activist retired teachers have pushed for such a change, saying it's disrespectful to pay bonuses that sometimes top $100,000 when the fund is losing money. The pension board voted in January to slash bonuses during down years, but not eliminate them.
Under that formula, the pension system would have paid $3.4 million in bonuses to its 89 investment officers this year.
Yesterday, however, the board voted unanimously to eliminate bonuses in down years and to reduce them if the pension fund gains value but falls short of $65 billion. The fund currently has about $51 billion, down from its October 2007 peak of $80 billion.
"I think it was extremely important for the board to take this step, especially in light of changes that will adversely affect not only retirees but active members as well," said Dennis Leone, a pension board member who pushed to cut the bonuses.
On Monday, state Rep. Matt Huffman, R-Lima, introduced a bill to ban the merit bonuses during years when the pension system posts an overall loss.
jnash@dispatch.com
Investment officers won't get the payouts if the fund sees an annual loss.

Lima News: The Huffman bill and a subsequent STRS bonus vote

STRS board decision mirrors Huffman's bill

Lima News, May 15, 2009
Beth L. Jokinen

COLUMBUS - The State Teacher Retirement System (STRS) board voted Friday to eventually do the same thing a local state representative hopes to put into law.

The board voted that starting in fiscal year 2011, no performance-based incentives will be paid out to investment staff if the retirement fund sees a negative overall return, said board member Dennis Leone, of Chillicothe.

Ohio Rep. Matt Huffman, R-Lima, introduced legislation earlier this week that would ban the STRS bonuses when the fund is not making money.

"Rep Huffman's bill had an impact on those votes occurring," Leone said. "I appreciate him stepping up to plate with the proposal."

All eight STRS board members approved the decision. The board also voted to eliminate bonuses in fiscal year 2010, which begins in July, if there is a negative return.

Also, for the investment staff to qualify for bonus potential, the fund's total asset has to climb to at least $65 billion. It is currently $51 billion. If there is an increase, but it doesn't reach the $65 billion, a formula will determine the bonus amounts.

The staff could still see bonuses from the first half of fiscal year 2009, which ends June 30. The board suspended its existing bonus program for the second half of fiscal year 2009, meaning the payments are based on just the first half of the fiscal year.

Preliminary reports show bonuses likely paid for fiscal year 2009 to about 90 employees total nearly $3.4 million. They range from $162,488 and $480. Leone made a motion to not pay the bonuses, but it died for a lack of a second. The board still needs to approve the bonuses by its September meeting.

http://www.limaohio.com/news/board-37401-bonuses-fiscal.html

STRS Board actions on bonus-related motions proposed by Dennis Leone May 15, 2009

1. Bonus plan for Fiscal Year 2010: motion made by Dennis Leone, seconded by Craig Brooks; passed 8-0.

• Voting yes: Leone, Brooks, Burch, Meuser, Myers, Ramser, Puckett, Cervantes.

• Absent: Hayden & Chapman.

• Plan prohibits bonuses if overall return is negative.

• Plan restricts bonuses unless total STRS assets return to $65 billion (we now stand at $51 billion).

• For every $1 billion our total assets fall short of $65 billion at the end of FY 2010, bonuses will be reduced by 3%. Example: If we have $54 billion at the end of FY 2010, this is $11 billion under $65 billion. 11 x 3% = 33% reduction in bonus potential.

2. Motion by Dennis Leone, seconded by Craig Brooks: to prohibit bonuses beyond FY 2010 in years in which total returns are negative. Motion passed 8-0.

3. Motion by Dennis Leone: to remove Investment Chief Steve Mitchell from PBI (Performance-Based Incentive) Plan; motion died due to lack of a second. Dr. Leone cited conflict of interests concerns since Mitchell evaluates other bonus recipients.

4. Motion by Dennis Leone: to deny FY 2009 bonuses; motion died, due to lack of a second. This means between now and September the Board will have to vote on the actual payments for the 7/12 FY 2009 bonuses.
May 15, 2009

Dennis Leone responds to the rhetoric

From Dennis Leone, May 4, 2009
Subject: Thank You

Jerry – Thank you for writing what you did to Meuser. I am sick-to-death of the Meuser/Myers/Ramser/Cervantes/Chapman/Nehf/Mitchell rhetoric of the bonuses being justified because the investment staff is providing “value added” (which means that our returns for the first 9 months of FY 2009 were -32.1% in comparison to Wall Street average market loss of -32.2%).

The union block on the STRS Board simply do not want to hear that base salaries averaging $156,000 for the investment staff (and spectacular fringe benefits) certainly pays for the so-called “value added.” No, they say it justifies giant bonuses on top of that.

I am also tired of hearing the age-old argument that the bonuses also are justified because we’d be spending more money using external money managers instead of our own internal money managers. Everyone could make an argument that it would cost him/her more money if they did things in a different way.

I guess I should have told my school board that I deserved a bonus check because I never recommended that my district hire a 2nd assistant supt, and therefore I was “saving” my district money by never recommending such. Maybe my wife and I are “saving” money by not buying a Florida condo that we can’t afford anyway.

Dennis Leone

The bonus situation explained.....

From Dennis Leone, May 1, 2009

Most of the confusion surrounds the fact that the board votes each spring to adopt a new bonus plan for the upcoming fiscal year (which begins each July 1), but then 6 months later the board votes to approve the cash bonus payments for the PREVIOUS fiscal year (which is 12 months after the work is done).

This means: The board voted 8-1 to adopt the fiscal year 2009 bonus plan in March of 2008, then voted 8-1 in September of 2008 to approve the actual $6 million bonus payments for the previous fiscal year (fiscal year 2008, which ended 6-30-08). This is when the firestorm really started.

But instead of stopping the bonus plan for fiscal year 2009 at this time (September, 2008), everything went forward (with only me complaining). A Columbus Dispatch article in December of 2008 said I was the ONLY board member who was pushing to have the bonuses suspended.

Then in January of 2009, the board voted 6-3-1 to approve my motion to suspend the fiscal year 2009 bonus plan effective 2-1-09. This meant two things:
...(1) No one would get bonuses for their work in the final 5 months of FY 2009; and
...(2) The board would at some point have to vote yes or no on the cash bonus payments for the first 7 months of FY 2009 (which will be $3.3 million).

The board has itself in a real pickle now. If the board votes no, the door will be open for staff to sue and argue that they have already done the work for the first 7/12 of the fiscal year.

If the board votes yes on the 7/12 cash payments, board members will look stupid because they chose NOT to stop the bonus plan last September when they could have.

STRS Board policy permits the board to modify or terminate the bonus plan at any time, and all investment staff members received a letter early last summer that explains this. The comments by board members Tim Myers and Mary Ann Cervantes that appeared in the Columbus Dispatch after the board voted 6-3-1 to suspend the bonuses effective 2-1-09 were dead wrong. Both voted no on the suspension and were quoted as saying that board was “breaking a promise” by suspending the bonuses. No promise was broken. It was dishonest to make such a statement, and they both know it.

Between the years of 1995 and 2004, approximately 350 non-investment staff members at STRS (in addition to approximately 100 investment staff members) also got big bonus checks every year. This was a major component of my 2003 report. The board finally voted to end bonuses permanently for non-investment staff in 2004. Another elimination I pushed for, which was adopted in 2005, was the STRS practice of basing bonuses paid to investment staff, in part, on SUBJECTIVE factors. It’s gone now. How stupid was that past practice? Very Wall Street.

~~~~~~~~~~~~

"The PBI program may be interpreted, amended, rescinded and/or terminated at anytime by the Board."
~ STRS Board Policy Manual, page 33

STRS assets no doubt peaked at more than $82 billion, not $80.1 billion.....

From Dennis Leone, April 29, 2009

Yes, it was $46.3 billion on 2-28-09………..and the peak was $80.1 billion on 10-31-07. (Had an official asset tabulation been taken 3 weeks earlier [which it wasn't], when the DOW topped 14,100, our total assets clearly would have been above $82 billion.)

And by the way, the number of employees at STRS peaked at 734 in 2003, when I said in my 13-page report that 135 needed to be cut. No official staff reduction plan was put in place. The reductions of the past 6 years have occurred through attrition, except for a dozen IT Dept employees who were laid off last year due to the new computer system at STRS.

OEA and a half-truth

From John Curry, April 30, 2009

Below is a March 20, 2009 memo from OEA President Patricia Frost-Brooks to OEA District Leaders and OEA Presidents stating (see the yellow highlighted area) Ms. Frost-Brook's apparent disagreement "with bonus payments to investment officers in years when STRS loses money."

Now, please read the two attachments taken from the "approved" STRS Board meeting minutes of March 20, 2009. These two pertinent pages are attached and labeled "XIV" and "XV" and show how three of the OEA's active teacher Board members actually voted on the first round in the voting to accept the "Staff Benefits Committee's recommendation dated March 20, 2009" to temporarily suspend the bonuses. You will notice that the OEA-endorsed active teacher Board members Tim Myers, Mark Meuser and Conni Ramser all voted "no!" The only OEA-endorsed active teacher Board member who cast a "yes" vote to temporarily quash the investment bonuses was Columbus Education Association's Tai Hayden. She is to be congratulated for her courage and insight.

After another vote (see the attachments) and the statement from STRS's Executive Director Nehf that the State Teachers Retirement System staff could live with the suspension of the bonuses did two of the OEA naysayers (Myers and Meuser) finally come around to vote to temporarily freeze the bonuses. Still, on that final vote, OEA's Conni Ramser cast an "abstain" vote. Ms. Frost-Brooks didn't mention, in her letter above, the whole story, did she? What she related was a half truth. Of course, most active educators will not know that, will they? I'm also sure the OEA won't go out of their way to present this documentation to their membership.

John Curry

P.S. Concerning Ms. Frost-Brooks reference to Dr. Dennis Leone as a "dissident board member"....he is "fearful about the financial future of STRS." Well, so is STRS Board candidate Jim Stoll and so should every reader of this email be "fearful about the financial future of STRS." Dr. Leone has curbed more entitlements at STRS during the past four years as a board member than I have fingers and toes. Ms. Frost-Brooks didn't go into specifics on that one either, did she?

From Michael Mahoney, March 20, 2009
To: OEA Board of Directors
OEA District Leaders
OEA Local Presidents
From: OEA Communications and Governmental Services
Re: STRS Bonuses, Investment Performance and Board Elections
Relaying a message from the OEA officers:

STRS Board candidate James Stoll recently distributed an e-mail to many Ohio educators that seeks to further his election campaign by alarming members of STRS about the fund’s market losses and “outrageous” bonuses for employees. STRS lost $33 billion in market value in its most recent fiscal year. The STRS system also paid bonuses to 83 employees for outperforming the market - losing less than comparable funds.

The Ohio Education Association is deeply concerned about STRS market losses. OEA does not agree with bonuses payments to investment officers in years when STRS loses money. As a result, OEA commends the recent vote by the STRS board to suspend 2009 bonuses, as well as formation of a board committee of the whole to address investment performance. However, OEA feels strongly that Mr. Stoll’s recent e-mail was a cynical exploitation of the emotions of educators, including a quote from dissident board member Dennis Leone, in an attempt to make them fearful about the financial future of STRS and cast a vote for Stoll.

During comments to promote his candidacy during the public participation period at the STRS board meeting this week, another odd practice, Stoll boasted he has a list of 145,000 educator e-mail addresses, presumably to further his campaign. Earlier, he had sued to obtain e-mail addresses from STRS, but the Ohio Supreme Court declined to hear his case, upholding a policy to protect the privacy of member e-mail.

OEA has recommended the election Stoll’s opponent, Carol Correthers of the Lorain Education Association, to the active STRS board seat. We believe she has the temperament, qualifications and judgment to serve on the board.

Stoll never sought OEA’s recommendation and did not go to an OEA screening. Moreover his recent e-mail confirms our position. OEA must address this situation, but we apologize for any inconvenience our e-mail to you may cause. If you do not want to receive further e-mails on this subject, please click here or send your request to communic@ohea.org.

Cc: All OEA Staff
Click images to enlarge.

.................................................................................

And OEA insists they legally do not and cannot tell STRS Board members what to do and how to vote: yet we know they do from STRS Board members -- though fearful of even saying it publicly.

~ Molly Janczyk

Why OEA will never engage in a public debate.....

From Molly Janczyk, April 27, 2009
Subject: Open Debate: Bonuses

Just as Bill Leibensperger will not agree to an open debate, neither will Tim Myers or probably any of the OEA-backed STRS Board members. Debating without prepared statements with unknown questions and audience is well outside their comfort zone. Speaking, like Dennis Leone does and Jim Stoll is requesting, interactively with audiences whether friendly or critical isn't where they want to be.

Interestingly, when Leone speaks with facts behind him, most audiences who were previously more closed minded change perspectives, but Dennis possesses the ability to face opponents or supporters without fear simply stating facts and presenting evidence. OEA likes to mail or gather their supporters in a room and bask in the glow of those who do not 'dissent.' They are not so quick or nimble on their feet as Leone and Stoll. Thus, that is a problem in imaging for them. Therefore, debate does not occur and public speaking on/in friendly territory or one in which no one is permitted to respond -- the-hit and-run arena.

Bill L.'s question to me of WHY does Dennis only wish to speak publicly with him is a perfect example of what I have said. There is no understanding of give and take, transparency, ability to prove accuracy, facing opponents who speak back with evidence to support them. It takes away the ability to take words out of context and throw out smears if someone is standing there ready to respond and prove otherwise. Not in their comfort zone.

Molly J.

Jim Stoll's speech to STRS -- and a challenge to OEA -- April 23, 2009

STRS Board -- Jim Stoll, Member of STRS who has paid into the system for 23 years now.

I'd like to share an analogy or example with you….. Sycamore Schools, where I'm the athletic director, has a Catholic high school within our district called Moeller. Several years ago, my football coaches came to me and said "Jim, Moeller's recruiting all of our good football players"; they complained and said I should turn them into the OHSAA for recruiting violations.

I asked our coaches one question: Name for me the best five eighth grade football players that we have at Sycamore Jr. High….. They couldn't -- coaches couldn't give me the names of our best five players…..they weren't doing their job. Moeller wasn't violating rules, they were OUTWORKING US.

My question/challenge to ANY board member, and to the Executive Director is the same which I had for my coaches….. Name me one "INDEPENDENT" professor (expert) that any one of you took the Bonus plan to and asked them for an evaluation??? Mike, did you go down the street and walk into the Business School at Ohio State to ask someone to evaluate it? Tim, did you go up to Bowling Green or Toledo and ask for an independent evaluation or critique of it????..... If any of you, INDEPENDENTLY, took it to someone outside the confines of these walls, please be SPECIFIC and give us the person you took it to…

I did; I consulted with a professor at the prestigious Farmer School of Business at Miami University…

He/We are all flabbergasted and amazed that you would, ON THE FLY, BY THE SEAT OF YOUR PANTS, make changes, revisions, motions, and votes and approve things in a plan that make no sense to experts in the field. MY ADVICE is ELIMINATE the PROGRAM, TAKE a year to get independent compensation experts from 13 universities throughout OHIO and build some consensus for the program. That is what a leader would do, and a prudent board, but this group seems to be neither, so I'd suspect you'll continue down the same ill-fated path.

I hope you realize that the field you're playing on has changed. Last week I sent an email to only 25,000 STRS members, one-fourth of our list. Based on the feedback you and I've received -- there is little or NO support for your continuation of this ridiculous Bonus plan or your defense of the Bonus plan. Superintendents and school boards are now getting on board.

As a successful coach, having won an OHIO STATE BASKETBALL TITLE in 1985, I understand a few things about MOTIVATION. There are two kinds of motivation. Intrinsic and extrinsic.

Intrinsic is the kind every teacher in OHIO is motivated by -- doing a good job, inspiring kids to achieve. It's the best kind of motivation; it encourages integrity and provides achievement that makes a person's heart and soul feel great about accomplishment! It lasts forever.

Extrinsic is the kind you are motivating through these bonuses. Extrinsic motivation is corrupt and greedy; it is fraught with problems and rarely lasts. Extrinsic motivation is giving material things for doing a person's JOB!

You want to MOTIVATE your investment associates -- fire a couple! Jack Welch, CEO who led GE to its greatest heights, states in his book, Jack -- Straight from the GUT, that to keep a business on the cutting edge at the top of its game and to attract the best and brightest talent that he would fire the bottom 5-10 percent of his management team every year! In your case, Human Resources would make a list of their 90 investment associates and rate them from 1-90. Whoever was listed 85-90 is non-renewed, let go, and you hire in five more of the best and brightest to compete and keep everyone motivated. School districts do it all the time by non-renewing the contracts of sub-par teachers. Want to intrinsically motivate your staff and not cost the members a penny…..adopt Jack Welch's strategy.

If the emails you've received haven't convinced you and the Executive Director that YOU are out of touch with your constituency, then you ought to rethink your roles and positions.

Lastly, as a basketball coach of an inner city school in the 1980s and at the college level, I've been spit on, had racial epithets thrown my way and other things occur to me, so in a political campaign, to receive criticism is somewhat amusing to me…..

I would like to say one thing to the OEA and those board members who were endorsed by that group. I'm the one running for a seat on the board -- my name is James A. Stoll.

Any criticisms should be directed at me, not a current sitting board member. For OEA to write a memo to their members and/or district leaders calling Dennis Leone a "Dissident STRS Board member" is APPALLING… I'd only heard the word "dissident" used referring to someone in China, Russia, North Korea or Cuba.

I've got news for Mr. Mahoney and Mr. Leibensperger at OEA -- if you want to take someone on, you better come after me because DR. LEONE is way out of your league! Dr. Leone has done more to protect the Active and Retired Teachers from abuses and mismanagement of STRS than everyone at OEA and STRS combined. He's not a part of this race, but I certainly thank them for putting me anywhere in his category -- based on my email response -- it has garnered me more votes than you know.

Thank you for your time.

Jim Stoll

Donna Seaman to Mike Nehf and STRS Board re: Credibility, respect and trust

From Donna Seaman, April 22, 2009
Subject: Board mtg.

Board members and Mr. Nehf:
This month's board meeting continues to bring you challenges. Your recent STRS glowingly written newsletter reports that "89% of STRS retirees say you have earned their trust and confidence." In this "random sampling" of STRS recipients, my opinion has never been sought. But I do not trust or have confidence in you, my STRS board! Many of us have lost credibility, respect and trust because of your recent and past decisions! Your survey also showed an interesting statistic: much fewer of respondents believe you are managing operating expenses prudently (66%)!
You continue to ignore my concerns and frustrations, and those of many other writers. You do not respond, or direct Mr. Nehf to respond, to our suggestions. While Mr. Nehf claims he supports transparency and open communication with retirees, I see virtually no follow through on issues of highest importance to retirees.

You continue to allow OEA to be your puppeteers and to pull many of the strings for your decisions! You continue to permit OEA to criticize and put down board member Dr. Leone and candidate Jim Stoll, who strive to advocate for retirees.

As you meet again this week, and in the coming months, these issues must be resolved:

• Performance benefit incentives/bonuses must be totally eliminated. Not suspended with the likelihood of paying investment staff for 7/12 for FY 2009, but eliminated! PBI's should be reinstated only if and when the 13th check for retirees is reinstated. Your newsletter states "Total operating expenses are expected to be about $6 million lower than the budgeted amount of $98.8 million for this year," yet you are still discussing pbi payments of $3.3 million (or more) for this year. This is insane! Look at what is happening in neighboring states, such as Missouri, and the stand that governor has taken against public pension bonuses. He should have a phone conversation with Gov. Strickland about this! Benefits and fringes provided to STRS employees should never be better than those provided to your constituents, retirees.
  
• Health care coverage for retirees should be comparable with the coverage you provide for STRS employees, no better, no less!
• STRS staff must be cut to reflect the loss in portfolio assets value! Even one of your board members' school districts has had to lay off teachers and dramatically reduce staff because of decreasing revenue. Why is STRS staff exempt from reductions and cuts that are being made in virtually every segment of our economy? I applaud your decision to increase the work week to 40 hours and to place a wage freeze through 2010. That is a good start, but more cost-cutting measures must be taken.

These issues must be discussed and resolved now, not put on hold until Dr. Leone's board term ends, or until new, inexperienced board members are installed this fall.

You must begin to listen to us! Your credibility, trust and respect depends on it! I look forward to being there and hearing your discussions this week.

Donna Seaman, 2002 retiree
(These opinions are my own, and do not reflect those of any organization.)

Jim N. Reed: A letter of appreciation

From Jim N. Reed, April 21, 2009
Subject: Fwd: Dr. Leone challenges the OEA to a debate! "OEA can pick the date, the time, and location. I will be there."

Dear Dr. Leone,

You've done it again! Each time in the past four years that I have become so frustrated and disenchanted with STRS and become selfishly complacent you have provided a pep talk or letter that has restarted the juices. Where did you coach? I've been in that business for 45 years and never been around anyone who does it better!

Your invitation to OEA, Leibensperger in particular, to public debate is a much-awaited event. I believe we could sell tickets. I would be proud to be in your corner.

My thought is that neither OEA or Leibensperger will accept the challenge. I think they know they can't survive the factual data, as supplied by their own union and our retirement system, combined with your expertise and logic. Even though they can afford the costs of making any kind of arrangements, publicity, propaganda, etc., they cannot afford to be publicly exposed for their unethical, even fraudulent, behavior past and present. Such a public conversation would only lend itself to additional STRS/OEA condemnation among uninformed educators, board members, and taxpayers.

However, the rules have changed in our favor. Due to your tenure on the Board, the membership of OEA and STRS will never again be totally subservient to the brainwashing tactics stakeholders have been exposed to during their careers.

There is a growing number of OEA/STRS-literate actives and retirees who will no longer sit on their hands and play the role of the union-indoctrinated passive, apathetic educator. There are still too many who have not actively sought out available information but that number is shrinking as this letter is being written. I know because concerned educators have contacted me. And I know they have contacted others who have refused to look the other way, charter advocates like John Lazares, Kathie Bracy, Tom Curtis, John Curry, Molly Janczyk, and members of CORE. Especially encouraging are the new faces that have entered the fray, men like Jim Stoll, Bob Stein, Ralph Roshong, and Rich DeColibus.

Never again will OEA and STRS have a free pass.

Dennis, you cannot be replaced on the Board. You are a true pioneer in what you have accomplished. That ground had never been traversed. But you have been an inspiration to others who will strive to advocate, to educate, to question, to debate, to watchdog and to reform on behalf of 450,000 educators and their beneficiaries. No one will ever have your unique style but you have provided a template and produced proteges who have learned from a master mentor.

From a 45-year educator, I can not express adequately my sincere gratitude for what you have accomplished as an advocate for the security of families of Ohio's active and retired educators.

Jim N. Reed

Jim N. Reed: Some observations, revelations, musings, conclusions.....and guarded optimism

From Jim N. Reed, April 21, 2009
Subject: Blockhead Solidarity, Malcontents, Closed Elections, and the Renaissance

Kathie, I noticed in a recent posting of an excellent on-point letter from Rich DeColibus to Mark Meuser that the STRS Board member's mail box refused the e-mail.

Maybe that explains why Mr. Meuser and some other Board members claim they receive very few negative letters from membership regarding their embarrassing behavior as regards past and recent Board decisions. Maybe Mr. Meuser, Mr. Myers, Ms.Ramser, and Ms.Cervantes really believe there are few stakeholders who found their votes to reject PBI suspension disgustingly absurd even though their out-of-touch decisions flew in the face of official OEA mantra.

(The only OEA-endorsed member who had the knowledge, sensitivity and courage to stare down the PBI proponents was Ms. Tai Hayden. Her sensitivity and fortitude has not gone unnoticed.)

One way to avoid being critiqued is to shut off the critic. All good reviews. A gorgeous, glowing report from the STRS Bulletin on membership satisfaction (does anyone know anyone who's been surveyed?) keeps non-informed members in the dark.

This current e-mail refusal by a Board member's service re-touches a nerve from Dyer's Dirty Regime. Upon retirement and having some serious questions regarding the way mine was processed I had occasion to make several attempts to contact STRS Board members after Dyer provided nothing but condescension, patronizing, and blatant disregard.

As a constituent I expected the courtesy of being channeled to one of my representatives of my retirement system that I had paid into for 33 years.

Wrong. Letters and phone calls to Board members at STRS were never returned by those elected/appointed officials. There was recognition of having received my contact but with each call and letter a response came from the Chief himself, Herb Dyer. Dyer would then proceed to give me the STRS punch line as to why my case, along with 5,000 others, was mishandled the way it was.

Talk about solidarity! Blockhead solidarity! One way to keep the troops in line is to have one official mouth- piece.

I was able, finally, to reach one Board member at his home. I will always be grateful to him for being willing to speak with me privately. My sense of that phone call was that he was uneasy but felt it was the right thing to do.

We must never allow any excuses offered as to why any stakeholder does not have total access to anyone we seek a response from at STRS. With the amount of contributions made to our retirement system from educators, boards of education, and local taxpayers and with 450,000 stakeholders' and beneficiaries' security dependent on Board decisions, if anyone is "entitled" to anything in the system it's truthful and fair answers for the membership.

One way of diverting attention from the mismanagement of pension funds within our once proud retirement has been for STRS-OEA ( a hyphen is all that separates them) to go on the offensive and attack the messengers of the challengers.

The written legacy of the disloyal opposition includes allegations that those who have challenged STRS-OEA are "liars," "alarmists," "dissidents," "deceivers," "panderers" (to fear and emotion), "cynics," and "malcontents" (my favorite moniker as we were branded when Dr. Leone exposed the foxes in the hen house in 2003).

Those that have insisted on muckraking reform have been accused of being destructive, deceptive, misrepresentative, just to name a few of the allegations.

What is quite ironic is that some of these same accusers were (and may still be) the disciples of the "Malfeasant Seven," the infamously indicted Board members and Executive Director who were ethically challenged, convicted, and removed from their official duties by the court (or, in Dyer's case, golden- parachuted, with a half million dollars of our funds, by the rascals on the Board before corporate slum-lording was such a well-accepted national pastime).

Membership must insist on open elections in their districts. Once again in this April's Board election attempts were made to disparage, discredit and close-out non-union candidates for the active and retired seats. All's fair in politics, right? Sure, if all contestants are competing on a level playing field.

Why should any candidate not have equal access to the electorate? And the most embarrassing shame of this type of closed election? Can anyone think of a more disgraceful venue for this type of undemocratic process to take place than in the halls of an institution of learning? How can a teacher-candidate look into the faces of their students knowing that because their opponents would not walk nor talk the union label their message was stifled. Are open, free elections only for classroom promotion and democratic idealism.

Some four years ago Dr. Dennis Leone and Mr. John Lazares inspired me to believe that there was a badly needed Renaissance at STRS. Mr. Lazares paid his dues in several ways advocating for actives and retirees as a Board member. He gave of himself until it hurt. None of us who attended his Board meetings will soon forget what he accomplished, personally and professionally.

Dr. Leone has not succumbed to the insults, allegations and confrontations from less than informed colleagues on the Board. He has more than held his own due to his expertise in financial, legislative, and administrative matters. To his much deserved credit, Dr, Leone has provided more oversight, watch-dogging, practical reform, and educator advocacy than any member in the annals of the STRS Board.

Unfortunately for the active and retired educators in Ohio, Dr. Leone's tenure has about concluded. He can rest assured that he has garnered the admiration and respect of all of those educators whom he has taught the meaning of being STRS-literate.

What of the continuing Renaissance minus a Dr. Dennis Leone? First of all, though he may not be on the Board, my best estimate is that he will be in the Board room whenever he believes the decision makers at STRS are not respecting ORC 3307.15. Much to the chagrin of some Board members, administrators, and staff I doubt that Dr. Leone will ride quietly into the education sunset.

There is new reform blood on the horizon. Men like Jim Stoll, Bob Stein, Rich DeColibus, and Ralph Roshong will continue to challenge STRS to provide integrity, transparency, sensitivity and trust for its membership.

The days of unrestrained, out-of-touch mismanagement, and disregard for ORC 3305.17 leading to stakeholder insecurity are going to be closely monitored by a new generation of watchdogs, whistle blowers and reformers inside and outside STRS Ohio.

Jim N. Reed

Dr. Leone challenges the OEA to a debate! "OEA can pick the date, the time, and location. I will be there."

From Molly Janczyk, April 20, 2009
OEA hides behind closed doors when asked for open debate.

They have never even responded to requests.

Not their style which is to hurl accusations hoping something sticks with their loyalists regardless of truth-even when facts are proven correct by their opponents.

Silence is their modus operandi coupled with repeated attacks of any who may disagree with them. They haven't the nerve to debate. Bill L. literally shakes when directly aproached with facts, hangs his head and cannot come up with on the spot reasons for his behind the scenes letters. His way is to write letters without any resistance and put out inuendo.

HOW DO I KNOW? I have directly approached him, confronted him, met with him when he was in the room with those who politely do not support him. I and others have noticed his obvious discomfort in a 'live' venue. Easy to sit behind a desk and issue statements, tell others he will help them write letters and speak to supporters or to STRS behind a podium with no one able to question him.

He hasn't the courage for a real debate in a live setting.

My opinion based on years of communication with him.

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Dennis Leone: A bold challenge to Pat Frost-Brooks, Bill Leibensperger and Tim Myers

Think they're up to it?

From Dennis Leone, April 20, 2009

I remember several things very, very clearly about the statewide communication by OEA President Gary Allen in the summer of 2003. (It advised OEA members to contact Bill Leibensperger if they had further questions.) Allen described my 2003 findings of STRS board/staff wasteful spending (and this is verbatim) as “misrepresentations,” as “destructive” and “written with unclear motive.” These things I will never forget. He also wrote in this statewide email of how OEA supported Herb Dyer and the big spender STRS board members of that time period (six of whom – Jack Chapman, Hazel Sidaway, Eugene Norris, Debra Scott, Michael Billirakis, and Joe Endry – all were later convicted in court of ethics violations, along with Herb Dyer himself). Allen wrote this during the summer of 2003, after my 13-page report came out in May of that year. In the recent 2009 statewide email, OEA is now calling me a “dissident board member.” While I was the only board member who originally pushed for the suspension of bonus checks – which OEA now says it supports – OEA-backed board members Ramser, Meuser, and Myers did NOT vote in support of the bonus suspension. OEA writes that it is proud of these three STRS board members – but strangely did not say it is proud of STRS board member Tai Hayden, who also is an OEA member. Was this because she voted in favor of what I proposed, which was the bonus suspension? OEA has sunk to a new low, and apparently is not even aware that its own board members at STRS (except Tai Hayden) are voting against what OEA says it supports.

I would love to have the opportunity to debate the current STRS issues in a public forum with Patricia Frost-Brooks and Bill Leibensperger sitting across the table. Is there anyone out there who could arrange such a thing? OEA can pick the date, the time, and location. I will be there. Board member Tim Myers says the teachers he has spoken to in his district – Elida Local Schools – are NOT opposed to the current bonus checks. I’d love to have the opportunity to address them as well. Betcha Myers isn’t willing to set it up. I recall once asking for an audience with the Dublin City School District teachers after the Dublin teacher union president Dawn Leibensperger (does that name sound familiar?) gave her opinion of my 2003 report to the teachers there. My “equal time” request, of course, was denied by Mrs. Leibensperger. In fact, she expressed her distaste that I even asked for it.

There are emails, letters, and tapes that verify everything I have said above.

Dennis Leone

Election talk: Bill Leibensperger, Molly Janczyk and Kathy Russell

From Molly Janczyk, April 20, 2009
Subject: Double Talk, again!: KATHRYN, Vote for Carol Correthers

Interesting double talk AGAIN from OEA! The FACT IS: -STRS IS CONSIDERING RAISING THE AGE OF RETIREMENT AND AS BILL SAYS: ALL THINGS ARE ON THE TABLE! THAT IS ONE OF THOSE THINGS!!!! Source: STRS Board and OEA Candidate McGreevy who answered in the affirmative when I put this question out and he answered: All things are on the table to my asking if upping retirement age was being considered. -If anyone is naive enough to think that upping contributions IS NOT being considered, well, there is a bridge I 'd like to sell you as I need the money to pay for health care. -UPPING CONTRIBUTIONS DOES TAKE LEGISLATION! -UPPING RETIREMENT AGE TO MY KNOWLEDGE TAKES STRS BOARD APPROVAL AND DOES NOT NEED LEGISLATION: CORRECT ME IF I AM WRONG: I have been told for years that the STRS Board CAN do this themselves!!!!!

If anyone is using smoke and mirrors it is OEA/OEA-R! NOT JAMES STOLL who is trying to get facts out to actives! BILL L. HAS ALWAYS IN MY OPNION SKIRTED FACTS WITH RHETORIC AND USED ALARMIST' TACTICS TO SWAY VOTERS AWAY FROM FACTS! JAMES STOLL, LIKE DENNIS LEONE, USES STRS FIGURES NOT OEA SHROUDED ONES.

EDUCATORS: SHOULD YOUR STUDENTS PASS BECAUSE THEY DID BETTER THAN THE NEXT CLASS EVEN THO THEY UNDERPREFORMED? THAT IS BILL L./OEA/STRS LOGIC.

IT IS YOUR MONEY AWARDED STRS STAFF WHEN YOU CANNOT AFFORD YOUR MEDICAL BILLS IN THESE DIFFICULT TIMES! STRS EXISTS BECAUSE OF YOUR CONTRIBUTIONS AND YOU, THE SHAREHOLDER, SHOULD COME FIRST!!!! DO YOU?

IF ONLY STRS, OEA, OFT alarmed folks long ago of this impending crisis AND THEY KNEW IT WAS COMING SINCE THE EARLY 90's! JOE ENDRY advised them at that time change was needed and legislation was in the offing to mandate health care. OEA AND STRS said it was not necessary! Former Exec Direc and OEA's pick Dyer said he wanted out of the health care business and it seems that is just where we were headed-spend what's left and then say, we're out. WHAT STOPPED THIS??? A FEW RETIREES HEADED BY DENNIS LEONE AND JOHN LAZARES WHO BROUGHT THIS TO THE ATTENTION OF THE MEDIA MUCH TO OEA's DISMAY! OEA's reaction was to hurl accusations and untruths slandering Leone never to apologize even though Leone was proven correct on all counts and Dyer and his 5 ACTIVE STRS OEA BOARD MEMBERS AND ONE RETIREE FOLLOWER WERE ALL CONVICTED OF ETHICS VIOLATIONS! They chose to ride the wave of the market, spend on themselves and NOT act prudently on behalf of membership with long term planning to secure health care funding. You can deny bad behavior all you want BUT WHEN DOES I T BECOME PAINFULLY AND BLATANTLY CLEAR THAT STRS AND OEA DID NOT PROTECT MEMBERSHIP??

JAMES STOLL IS TRYING TO EDUCATE YOU AND PROTECT YOUR FUTURES! LEONE AND LAZARES WARNED FOR YEARS THAT PENSIONS MAY BE JEOPARDIZED IF STRS CONTINUED ITS PATH! HERE WE ARE! STRS IS CONCERNED ABOUT PENSIONS FOR ITS ACTIVES DOWN THE ROAD!

Head in the sand or research yourselves the real facts! Listening to Bill L. will only ease your minds short term but Leone, Stoll, Lazares try to inform and work towards long term solutions to protect you.

Jim Stoll: Active STRS Board Candidate Bob Stein: Retiree STRS Board Candidate

McGreevy is OEA-R prototype and though a nice man, I feel unable to leave his comfort zone to vote for real change against his comrades.

From Bill Leibensperger, April 9, 2009
Subject: RE: KATHRYN, Vote for Carol Correthers

Dear Ms. Russell,

I’m afraid someone has sold you a bill of goods, but I certainly respect your right to vote for the candidate of your choice.

There are two key reasons we did not endorse Mr. Stoll for this position: 1) he didn't screen, and 2) Carol Correthers is a superior candidate. She is the OEA-endorsed candidate, which means that she has passed a screening made up of knowledgeable members representing both active and retired teachers. The questions to which she responded required an in-depth knowledge of the issues, a commitment to serve all, and an understanding of the duty.

I20am guessing that your members are responding to the deceptive communication from her opponent. I have seen the chart that Mr. Stoll is sending around. Probably a majority of members are "frosted" over the whole bonus thing. Unfortunately, there are those (including a current Board member who is supporting Mr. Stoll) who would pander to members' emotions and fears in order to make themselves look good, rather than work collaboratively with others to protect the integrity of a very strong system that will take care of all of us for the rest of our lives.

Mr. Stoll's email has selected "facts." One of the important ones missing is that the Board did approve a new bonus policy without a dissenting vote after much deliberation and preliminary voting. Another fact that is difficult for many of us as teachers to understand is that bonuses are actually the way investment staff are paid throughout the industry. STRS investment staff have outperformed the industry, but the Board in their wisdom and in respect to the members they serve have passed a policy that curtails bonuses when there are losses (even when the losses are significantly less than the overall market).

Carol Correthers does support strong operational controls and understands that members expect STRS to run their operations in a prudent way. I think you can rest assured that Carol will always make go od decisions based on intelligent deliberation and a strong commitment to all members of the system. Certainly she will not try to alarm members with "the sky is falling" kinds of messages, as she understands the gravity of the position for which she is running. Members will find her very accessible.

It is important that we protect our retirement by electing intelligent, reflective, and hardworking representatives who will do their homework and never put any personal interests ahead of the well being of current and future retirees. I hope we can count on you to support OEA-endorsed candidate Carol Correthers. She has my vote.

Please let me know if I can be of any further assistance.

Bill Leibensperger
Vice President
Ohio Education Association

From Kathy Russell, April 6, 2009
Posted To: govtsrv Conversation: KATHRYN, Vote for Carol Correthers
Subject: Re: KATHRYN, Vote for Carol Correthers

Dear Mr. Leibensperger,

I hope you are aware that more and more people are becoming very upset about the policies of the OEA and particularly the way the OEA endorsed candidates who are elected to the STRS board have been wasting our hard earned retirement money. More and more active teachers are watching what is going on at STRS and are choosing to vote for the other candidates, NOT endorsed by the OEA. We would much rather elect people who have our best interests at heart like Dennis Leone. We are tired of the way the STRS board has wasted our money on extravagances for themselves when they should have been taking better care of OUR money. Thanks to your board members, retired teachers no longer get a 13th check, the health care fund is in serious danger of being completely depleted, and the retirement fund has lost many billions of dollars. We would rather elect someone who will actually be responsible to take care of OUR money, not just say they will, and then do whatever the OEA tells them to do with it. Furthermore, we are appalled by the way the OEA refuses to allow the other candidates to campaign in the public schools. EVERY candidate has a right to campaign and should be allowed to put fliers in any school they wish to. It is outrageous that the OEA representatives in many school districts will only allow campaigning for their own can didates. I, for one, will be voting for JIM STOLL, not Carol Carrethers.

Sincerely,
Kathryn Russell

From Bill Leibensperger, April 6, 2009
Subject: KATHRYN, Vote for Carol Correthers

Dear KATHRYN,

Those of you who are active teachers and contribute to STRS will be receiving a ballot in the mail in the next few days to elect a new member to the STRS Board. OEA has endorsed Carol Correthers for this position. Carol is a special education teacher in the Lorain City Schools. She has a wide range of experience, including service on the OEA Board of Directors and a local school board. She is committed to this important role and in her advocacy for our members.

The current state of our economy and the rapid decline in stock prices over the last 18 months has made the benefit of belonging to STRS even more valuable. I’m sure you all have friends or family members who have lost their jobs or lost their retirement savings. For Ohio’s teachers, the benefits provided by STRS represent our economic security in retirement, and OEA will continue to work to protect those benefits. This will not be easy. STRS has experienced more than $30 billion in market losses, and the STRS board and staff must work together to address policies on how to manage retirement and health care funds as we wait for the securities markets to recover. At times like these, we need strong, experienced members on the STRS Board to help ensure that we continue to have the pension and retiree health care benefits we need and deserve. Carol Correthers is just such a person.

Carol is a classroom teacher who has earned the endorsement of both OEA and the Ohio Federation of Teachers. Through her experience on other boards, she’s overseen budgets, set policy and dealt with personnel issues. She knows that collaboration and thoughtful judgments yield better results for our members than knee-jerk reactions, bombast and combativeness. However, make no mistake: Carol is a strong and decisive leader.

I noted with dismay that in a recent campaign email, Carol’s opponent implies that STRS might raise the retirement age, increase required contribution rates from members or make other changes to our pension benefits. The fact is the STRS Board does not have the power to do any of these things. Such changes require a change in state law. What is true is that the STRS Board is examining changes that they may recommend for legislation and that “everything is on the table.” Given the critical nature of these discussions, I feel it’s more important than ever to have Board members with the knowledge, experience and temperament to serve in this important role.

Please make the time to vote in the upcoming STRS Board election, and I encourage you to vote for Carol Correthers.

Retired members of STRS will be electing two new Board members. OEA has endorsed James McGreevy and David Preslan for these seats on the Board. Please do all that you can to get out the vote among retirees to get these two highly qualified gentlemen elected. More information on each of OEA’s endorsed candidates is available on www.ohea.org.

Sincerely, Bill Leibensperger
OEA Vice-President

Deja vu.....Sen. Wachtmann re: STRS in 2003 -- did he have a crystal ball and gaze 6 years into the future?

He must have!

From John Curry, April 20, 2009

Below is a letter I received (in 2003) from Sen. Wachtmann re. my letter to him regarding misspending, mismanagement, and the entitlement mentality at STRS. That was even before the bonus controversies (yes, there was more than one bonus controversy) , 6 criminal ethics convictions of former STRS Board members and a former Executive Director, and a host of other travesties brought to light by soon-to-be-retired STRS Board member Dr. Dennis Leone.

I take particular note in what Senator Wachtmann said in that letter (attached) concerning health care as, this week, the STRS Board will begin to discuss more cuts to benefits AND increased deductibles as well. Here is what he said on that cold February day back in 2003:

"STRS has not been as farsighted as other systems, such as the Public Employees Retirement System, on managing its portfolio and especially taking early steps to prevent more drastic measures to ensure health care benefits are there for all of the retirees in the future."

We have(n't) come a long way, baby!

John Curry

P.S. The OEA was also searching for that "dedicated stream of (healthcare) revenue" back then... they still haven't found it, have they?
Click image to enlarge
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WKRC comments re:STRS/Jim Stoll video on WKRC Cincinnati

From John Curry, April 20, 2009

The comments below were emailed to WKRC (Channel 12) Cincinnati after they ran the story of the STRS bonus fiasco and an interview with active teacher candidate for the STRS Board - Jim Stoll, If you click on the link below you will be taken to that video footage.

John

Video link: http://www.local12.com/mediacenter/local.aspx?videoid=39160@video.wkrc.com

missopinion - 4/17/2009
More dumb decisions...surprise!!!

Lo Beam - 4/17/2009
This should be illegal. Workers get no pay raise or laid off this year but upper management gets bonuses? It's wrong in so many ways. This has to stop!

marcusT - 4/17/2009
This only stands to reason, be a failure as a banker and take home millions in taxpayer dollars, be a failure in the education system, same rewards. Is anyone really surprised?

sniderfamily - 4/16/2009
It's time for the STRS board to be held accountable for their decisions and actions. Their priorities should be about the retirees rather than the employees of STRS who don't even pay into STRS, but into PERS. STRS retirees have been lucky to have John Lazarus and Dennis Leone on the STRS board; however John Lazarus' is no longer a board member, and Dennis Leone's term is up as of August. Jim Stoll is a person who is not afraid to expose the ridiculous bonus checks of STRS employees. Thanks to channel 12 News for letting people know what type of board members are on the STRS board. Thanks to Jim Stoll to have the courage to let the public know about the bonuses and who approved them (STRS board). Dennis Leone did NOT agree for giving bonuses while STRS is losing money. STRS board members should be concerned 100% about STRS retirees,educators who are paying into retirement, and future retirees who have just started in the field of education. Those of you active teachers who can vote for an active STRS board member should give serious consideration to Jim Stoll. He's not afraid to speak up to do the right thing for educators and the public.

Bugscuffles - 4/16/2009
I want to thank Jeff Hirsh and Jim Stoll for calling attention to the outrageous performance based incentive bonuses being paid by the State Teachers Retirement System at a time when the value of the investment portfolio has lost 40% of its assets to the tune of $33 billion in the past 16 months! Sixty-six employees have base salaries of $140,000 to $529,000, higher than the governor's. Thirty-three associates received base salary raises from $10,000 to $39,000. The latter figure represents more than many retirees' annual pension. It is projected that the health care stabilization fund will be depleted by 2018 leaving retirees to find and fund 100% of their health care. Also, at the March 2009 STRS Board meeting it was reported by the STRS staff that "unless changes are made, the system would eventually be unable to pay members' earned benefits." I would encourage those interested in more information to go to www.warrencrta.org,