Thursday, June 29, 6000

NOTE: To find the most current posts, please scroll down to the two big red arrows. You can't miss them.

Tuesday, February 15, 4000

STRS Ohio Watchdogs: a public Facebook group you can join

STRS OHIO WATCHDOGS
by Cindy Murphy
STRS Ohio Watchdogs monitor the management and investment practices of the State Teachers Retirement System of Ohio.
We advocate for prudent and transparent investments, the restoration of the COLA for retired teachers, and the rollback of additional years of service required for active teachers.
This site will provide you with information about the work that is being done by Ohio's active and retired teachers to preserve our retirement benefits. Check back often for updates.
Join our conversation on Facebook. You don't have to be a member of STRS Ohio to join. Everyone who is interested in learning more about the management and investment practices of STRS Ohio is welcome.
Use this link to join our pack on Facebook:.

Sunday, August 27, 3950

Have you joined the Ohio STRS Member Only Forum on Facebook?

If you are a member of STRS Ohio and have a Facebook account, you are eligible to join thousands of others who make up the Ohio STRS Member Only Forum. This is a closed group of retirees and actives who are advocating for the return of our COLA, which, as you no doubt know, your STRS Board SUSPENDED on April 20, 2017. Two of our members, Bob Buerkle and Dean Dennis, filed a class action lawsuit against STRS on May 23, 2019 suing for the reinstatement of our COLA. The text of the lawsuit can be found on this blog. You can go here to join the Forum and sign the petition, already signed by more than 20,000 people, for the return of our COLA: Ohio STRS Member Only Forum

Click image to enlarge

Monday, June 25, 3900

Angel of Grief

Monday, June 24, 3850

Garrison Keillor

Wednesday, May 28, 3800

Items of interest in the Archives: The 2013 STRS Board Election

Many people have been very interested in reading about the irregularities of the 2013 STRS board election. There are many posts related to this topic, beginning the first week of April 2013, after the ballots were mailed to retirees from STRS. You can find them by going to the Archives for this blog, over in the right sidebar, and clicking on dates beginning with April 7, 2013. Dennis Leone announced his candidacy for a retired seat in November, 2012. There is a lot of information about him in the Archives, beginning with November 12, 2012 posts. If you want to read only the best stuff about that infamous election of 2013, go over to the sidebar on the right of where you are now, which is the archives of previous articles on this blog. Scroll down to April 2013. That's where the "interesting" articles begin. You will see many, clear up to the middle of May 2013.5/28/13

Friday, February 27, 3750

.....so what REALLY happened in 2003 that touched off a firestorm at STRS that is still smoldering today? Read it here, from the Cleveland Plain Dealer. (Hint: It ain't over yet!)

More here (Akron Beacon Journal, 2003)

Sunday, April 11, 3700

Thursday, March 10, 3650

To find current, day-to-day posts -- pull your scroll bar down a ways, just below the big red arrows (you can't miss them). Thanks.

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Friday, February 24, 3550

Find your state representative and senator here.

Monday, April 29, 3450

I know, it's weird.........

Many posts that appear "at the top" for a while are eventually moved down, where they can be found under their original posting dates. Also, if you are confused by the postdating, this is done to keep these posts up there; otherwise, they drift down when new posts are added. It's a "blog thing" which I have no other way to control. KB

Monday, February 24, 3400

Handy links: Contacts, information and more (short version)
This is an abbreviated version of the original 'Handy links' post.
 Click here to view a more complete list. (Some of it is old.)

STRS Board.....STRS website

Board calendar

E-mail contacts at STRS (old, but some may still work)

Map/directions to STRS, 275 E. Broad St. Columbus, OH 43215



Rich DeColibus' PowerPoint presentation STRS' PBI Program; Does it work?: click December 21, 2008 (blog Archive) and scroll down to December 23 posts.


Popular links; click, then scroll down: , , , ,

Tuesday, February 24, 3350

SPECIAL (must read):

Dennis Leone's INVESTIGATIVE REPORT on STRS: May 16, 2003...Who is Dennis Leone?........(PDF version)...More on Dennis Leone .......(PDF version)
Dennis Leone's STRS Report to ORTA, March 2007
Dennis Leone's Testimony at the Statehouse 9/5/12
The Plain Dealer article that started it all
Historic PBI vote, January 16, 2009

Tuesday, February 23, 3300

CURRENT POSTS BELOW

Friday, April 04, 2025

Drop everything and COME!!! We need you!!


 

Thursday, March 27, 2025

Cathy Steinhauser's words of advice to the STRS board: Please continue to make smart decisions for the good of this pension and its pensioners.

Cathy Steinhauser's speech to STRS board

March 19, 2025
Cathy Steinhauser – 35 yrs., satellite teacher of Family & Consumer Sciences through Pickaway/Ross CTC for Circleville City Schools.
Being employed by STRS and being chosen/voted in to be an STRS Board member comes with great responsibility. One of those, which is highest above all, is to be a responsible fiduciary. We pensioners take your job very seriously and have high expectations if this pension is to recover in the shortest amount of time possible.
Here are some actions that the Board should do for STRS pensioners that have been requested for many years:
1. Require a budget that operates within a more fiscally responsible and fiduciary manner and pass it. When anyone who experiences hardships in bill paying etc., they most logically cut back on other expenses to live within their means. STRS needs to do this too even if it means cutting staff, watering your own plants, staff attending to their own office mess…in short, monies paid out is increasing yearly while monies collected remains same.
2. Operate the cafeteria so that it makes money to be self sufficient because it shows a deficit of approx. $200,000/yr. You could rent it to an entrepreneur who can run it independently of STRS. State Highway Patrol has accomplished this in their building. Or you could close it and either brown bag it or call Uber Eats for delivery.
3. Sell the STRS building and/or rent out office space to other businesses like OPERS and SERS located on E. Town St.
4. A smaller building would require a smaller staff. Share in the sacrifice w/pensioners as was mentioned last month in a presentation.
5. Restore a much needed COLA to retirees. To us pensioners, your investment strategy has a lot to be desired. Private equity investing is a red flag that real experts in the field would warn against. If you’re tired of hearing this complaint, you need to get the legislators to change the rules because it was a dumb idea to ever have this approved years ago!
6. We now have Senate Bill 69, sponsored by Senator Mark Romanchuk, former chair of the ORSC. The ORSC was established in 1968 to consolidate local police and fire pension funds. It now oversees 4 more pensions. ORSC has 9 ORC mandate duties, one of which is to conduct a fiduciary performance audit of each system at least once every ten years. In 2016 that didn’t happen so who is ORSC accountable to? Where was ORSC when our COLA was taken away in 2017?? With legislation comes great concern for STRS pensioners. ORSC needs to do the right thing with fiduciary responsibility and not mess this up.
Please continue to make smart decisions for the good of this pension and its pensioners.

Monday, March 24, 2025

Bob Buerkle exposes the egregious damage done to the STRS pension system and all of its stakeholders by the STRS "big four" management team and STRS actuaries, yet hidden from ALL OF US for YEARS!

Bob Buerkle's Speech to STRS Board

March 19, 2025



Wednesday, March 19, 2025

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, 



 

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

Monday, March 17, 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

Thursday, March 06, 2025

Best candidates for 2025 STRS board election!

 

 


Thursday, February 20, 2025

Robin Beebe's Magic 8 Ball and some insights for the STRS board

Robin Beebe's speech to STRS board

February 20, 2025

My name is Robin Beebe. Retired teacher of mainly 4th Graders, 2nd Graders, Kindergartners, 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.

I sit at STRS Board Meetings and listen for hours and hours on end to actuaries and consultants maintain that if you do X,Y and Z, things MAY or MAY NOT pan out. They have mentioned multiple times that when all is said and done, they "DON'T HAVE A CRYSTAL BALL". So....if projections don't work out, oh well..., just read just that formula and timeline and extend into future years and decades. Hmmmm....."No Crystal Ball", eh????
Well, I don't have a crystal ball either. BUT, I did bring my Magic 8 Ball. (Hold it up for all to see.)  You all likely remember this and possibly even had one? I shall ask the Magic 8 Ball questions on behalf of active and retired teachers. They are MY PEOPLE. They are MY TRIBE. Shall we give it a try?
* 1. Will risky hedge funds/private equity/alts be replaced by responsible index funds?
        Magic 8 Ball says - CANNOT FORETELL NOW
* 2. Should the cafeteria become profitable or be shut down?
                
LOOKS LIKE YES
* 3. Will the TAJ and out of state real estate holdings be sold?
                
DON'T BET ON IT
4. Should the Communications Department stop spending our money to monitor/spy on us 24/7 on social media sites?
                
YOU CAN COUNT ON IT
5. Should the costly Town Hall Dog & Pony Show Propaganda Meetings stop?
                
POSITIVELY  (Stop Playing Us For Fools!!!)
* 6. Should STRS Staff levels be majorly reduced?
              
 VERY LIKELY
* 7. Should the Performance Based Incentives, i.e., Bonuses be given?
                
THE STARS SAY NO
* 8. Should the ORSC 2021 RESOLUTION be revoked and thus return the rightful control to this Board?
              
 ABSOLUTELY
(Remember Glinda the Good Witch's advice to Dorothy in "The
Wizard of Oz". "You've always had the power my dear, you just had to
Learn it for yourself.” NOW is the time to use your power.)
*9. Is restoration of the 3% COLA the right thing to do?
                
NO DOUBT ABOUT IT
P.S.  My 3% COLA was supposed to be paid in accordance with the LAWS in effect at the time of my retirement. No switcheroo nor taken away midstream. As for This current 2025 year with a 0% COLA, I am being denied $18,010.72. And my Grand total of denied full 3% COLA’s to date since retiring will be $119,242.56 and counting……HOLY………TOLEDO!!!
P.P.S.  You, our STRS Board, have a monumental task before you to pick a skilled Executive Director. Please, please choose the very best competent person, One with expertise, true integrity, honesty and a good heart to help us. Thank you.

Friday, February 07, 2025

Recent court documents you need to read to get the true picture of the gross injustice inflicted on two leading STRS board members; namely former board member Wade Steen and current board chairman, Dr. Rudy Fichtenbaum; they have been our strongest advocates

ORTA Staff
February 7, 2025
From the ORTA Blog:
Wade Steen: Recent court documents
Recent court documents in
•  State of Ohio v. Wade Steen and Dr. Rudy Fichtenbaum (CASE NO. 24CV003862)
•  Wade Steen v. G. Brent Bishop, et al (CASE NO. 23AP000351)
•  State of Ohio v. Dr. Rudy Fichtenbaum (CASE NO. 24 CV 003862)
Link to the documents on the ORTA website; they may be downloaded and viewed anytime: 

~     ~     ~     ~     ~

STRS Ohio Board member Rudy Fichtenbaum, and former Board member Wade Steen, are incurring legal fees, defending themselves against the lawsuit brought against them by A.G. Dave Yost. ORTA will use donations from the Pension Defense Fund to help them, if needed, pay their legal expenses. They have volunteered their time to support Ohio's teachers. Now it's time for us to show our support for them! Make a donation today to the ORTA Pension Defense Fund

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