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

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:.

https://www.facebook.com/groups/ohiostrswatchdogs 

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

Angel of Grief

Garrison Keillor

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

.....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)

A MUST READ: Dennis Leone Reform Initiatives as an STRS Board Member  Between 2005 and 2009

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.

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

Find your state representative and senator here.

http://www.legislature.state.oh.us/

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

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

STRS "Membership Survey" (spoof)
State legislators.......State of Ohio website

Latest OEA salaries (2011) over 100K; USDL report

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

Charts: PBI (bonus) payments

Popular links; click, then scroll down: charts, graphs, investment staff, lists, spreadsheets

$TR$ Inve$tment $taff $$$ (old)

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: "Catcher of Thieves"

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

Dennis Leone: Factors Driving STRS 30-Year Planning and Revenue Assumptions (with charts)

Historic PBI vote, January 16, 2009

Charts: PBI (bonus) payments

CURRENT POSTS BELOW

Robin Rayfield: As hurtful as the comments were from the ORSC leadership, I thank STRS for having these two people present their thoughts for everyone to hear. I hope that STRS can have legislators come in for discussions such as this more often in the future.

Robin Rayfield's comments to STRS board

March 19, 2026

Good morning. My name is Robin Rayfield. I am a member of STRS and executive director of ORTA.

Yesterday’s investment seminar included comments from 2 members of the ORSC. Representative Bird’s and Senator Romanchuk’s comments were what all STRS members expected and disappointed all STRS members. Representative Bird’s comment about ‘part time’ work of educators reminded me of STRS’s consultant’s comments a few years ago.

As hurtful as the comments were from the ORSC leadership, I thank STRS for having these two people present their thoughts for everyone to hear. I hope that STRS can have legislators come in for discussions such as this more often in the future. I mention this because years ago, I met with Kirk Schuring during his time as ORSC chairman. Mr. Schuring was very straightforward when he told me that my concerns about STRS were not the concerns of the legislative bodies, but instead were the concerns of the STRS board. He informed me that if STRS members were interested in reforms at STRS ‘we needed to elect reform minded people to the board’. History shows that the people wanting reforms at STRS did elect people whose interest included changes at STRS. What we did not expect or understand is that the elected people in Ohio did not want change at STRS. From the governor to the statehouse powerful people have blocked or partially blocked all efforts at reforms with STRS.

As STRS board members each of you has knowledge of the problem that STRS is underfunded. None of the reforms suggested will allow for any significant change with regards to years of service or inflation protection without increases in funding. Certainly reductions in costs associated with investments and increases in investment performance can provide more resources for members, but addressing the problems at STRS will require increasing contributions from the state.

To the elected members, I encourage you to continue the struggle to implement reforms at STRS. To the appointed members, I encourage you to take the message to the person that appointed you to increase funding for STRS.  

Dean Dennis with an educated opinion after hearing two legislators at the 3.17.2026 STRS board seminar

Dean Dennis' speech to STRS board

March 19, 2026

Cathy Steinhauser's sharp observations regarding two legislators who visited the STRS board seminar 3.17.2026

Cathy Steinhauser's speech to STRS board

March 19, 2026

Bob Buerkle to STRS board: How STRS missed opportunities that would have benefited us to the tune of billions!

Bob Buerkle’s speech to the STRS board

March 19, 2026

Around 1992 STRS began offering the option for retirees to be able to purchase Dental and Vision Insurance as a supplement. If you purchase both, the cost is just under $500 per year for the retiree and just over $600 per year for their spouse. TODAY, you can get this coverage for FREE WITH DOZENS OF Medicare Advantage Plans available to the general public. Most of these plans also include coverage for hearing aids up to $3,000 or $4,000 every few years.

In 2006 the Federal Government began subsidizing State Pension Plans like STRS, but only if they applied for it. STRS wasted three years before it started offering the current Government-subsidized Medicare Advantage Plan in 2009. Since STRS has over 100,000 retirees in their health care plan and the Federal subsidy is over $12,000 per retiree today, STRS receives over ONE BILLION, TWO HUNDRED MILLION DOLLARS in subsidies each year. Therefore, we now know that STRS missed out on the opportunity to receive about 3 BILLION SUBSIDY DOLLARS between 2006 and 2009, while the HC fund was needlessly drained of precious funds. During those three years STRS also used 1% of total Ohio School payroll, which added approximately $300 million to the HC fund that could have been placed into the pension fund instead. Furthermore, STRS continued to place 1% of total payroll into the HC reserves until 2014, five years after the end of the Great Recession of 2008-09, and that’s another $500 million not placed into the pension fund. Also, once monies are in the HC fund, they can no longer be returned to the pension fund.

So, what has happened over the last 12 years without contributing one dollar of Employer contributions into the HC fund? Well, thanks to the Federal Government subsidies for the STRS Medicare Advantage Plan, the HC fund reserves actually grew from under $4 billion dollars to about $5 billion, even after paying for all of the HC for retirees for the past 12 years. DO YOU THINK THE STRS EXECUTIVE HEALTH CARE DECISIONS FROM 2006-2014 WERE MOST PRUDENT?

Finally, I believe that STRS could include Dental, Vision and Hearing coverage in our plan, just like the plans available to the general public. A number of the plans also provide a subsidy to those STRS retirees who also qualify for Social Security. The plan that I chose adds about $1000 to my Social Security benefit each year, and provides me with a limited credit card to spend up to $200 a year in over-the-counter health aids. For these reasons I chose to leave the STRS Health Care Plan. I think STRS could, and should, provide similar benefits going forward; otherwise, we might have a mass exodus of healthy people leaving the STRS Health Care Plan.

One caveat – The STRS annual maximum out-of-pocket is far less, at about $1500 in-network, versus about $6-7,000 for most of the public plans with similar benefits. So, if you have a lot of health issues, or think that you might need multiple surgeries in the near future, you might be better off to stay with the STRS Plan.

Robin Beebe's message to Ohio's elected officials: See you ALL at the polls - 1/2 MILLION OHIO TEACHER VOTERS!!!

Robin Beebe's speech to STRS board

March 19, 2026 

My name is Robin Beebe. Retired Master's Degree 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 17 years. Denied my full 3% COLA's. Denied approximately $120,000 and counting.

    I am still patiently waiting for KARMA to make her appearance at STRS. Maybe my following comments will help speed up her arrival. Justice is not always an open and shut case, sometimes we must work for it.

    "Be the change you wish to see in the world." - Mahatma Gandhi

    "If not us, who? If not now, when?" - John F. Kennedy

    So, I choose NOW as the time for this PSA (Public Service Announcement) to my fellow active and retired Ohio teachers. My people. My tribe.

    Ohio's Primary Election will be held on May 5, 2026. The deadline to register to vote is April 6,2026 (coming up very soon). Ohio's General Election will be held on November 3, 2026. The deadline to register to vote is October 5, 2026.

 We active and retired Ohio teachers are 550,000+ strong. Think on this a moment. 1/2 MILLION STRONG. This is the chance to hold those in power accountable. This is the chance to change things . We must vote wisely.

    So, what are Ohioans voting on in 2026?

    * ALL 99 OHIO HOUSE SEATS (Refrain:1/2 Million Teacher Voters)

    * 17 OHIO STATE SENATE SEATS (1/2 Million Teacher Voters)
    * 2 OHIO SUPREME COURT SEATS (1/2 Million Teacher Voters)
    * OHIO AUDITOR OF STATE (1/2 Million Teacher Voters)
    * OHIO TREASURER OF STATE (1/2 Million Teacher Voters)
    * OHIO SECRETARY OF STATE (1/2 Million Teacher Voters)
    * OHIO ATTORNEY GENERAL (1/2 Million Teacher Voters)
    * OHIO GOVERNOR and LIEUTENANT GOVERNOR (1/2 Million Teacher Voters)
    * ALL 15 US HOUSE SEATS (1/2 Million Teacher Voters)
    * 1 US SENATE SEAT (1/2 Million Teacher Voters)

    See you ALL at the polls - 1/2 MILLION OHIO TEACHER VOTERS!!!

Suzanne Laird to STRS board: Please cut through the blarney and speak up on our behalf in this room and at the statehouse.

Suzanne Laird's speech to the STRS board

March 19, 2026

Good Morning, Members of MY Board, and to our former Chair, wherever you may be, we miss you terribly!

You may start your timer now.

A few years ago, on St. Patrick’s Day, I asked this Board to estimate how many teachers in Ohio feel lucky? Tuesday, we were unlucky enough to witness a lot of Blarney Stone kissing, and a couple of leprechauns magically spinning marshmallows and rainbows. That calamity was quickly curtailed, but the question remains: can Ohio educators count on their elected and appointed Board members? I noticed several elected members speaking on our behalf, but no appointees. Everyone at the table should have been raising bedlam.

To be fair, I have heard a few appointees questioning the status quo here at the Keebler treehouse. The institutional entitlement at 275 East Broad Street largely remains intact, though, and you will be asked in the coming months to approve raises and bonuses and pots of gold. You have the power to say no.

As Mark Kelly and his fellow Senators said, “Do not obey orders” (especially from a lame duck Governor). Follow your moral compass. Do what is right for the active and retired teachers you are here to serve. Speak truth when the leprechauns spin fairy tales. Help the little lobbyist who is wandering in the weeds.

Teachers are not asking for gold. We never expected it; we just want what we are contractually owed. It is insulting to sit through presentations from representatives who clearly do not grasp the difference between a 6% Social Security contribution and a 14% STRS contribution. Or the work we do in addition to our workday and work year. Please cut through the blarney and speak up on our behalf in this room and at the statehouse.

We cannot count on luck alone; we are counting on you.

March 2026 STRS Board Meeting Information

Schedule, Agenda topics, Meeting materials and more may be found here:

https://www.strsoh.org/about/board-meetings.html

March 2026 STRS board meeting scheduled for March 17, 18 and 19. Public Participation is scheduled for Thursday, March 19

From STRS

March 10, 2026

PUBLIC MEETING NOTICE

The State Teachers Retirement Board and Committee meetings currently scheduled at the STRS Ohio offices, 275 East Broad Street, Columbus, Ohio 43215, are as follows:

Tuesday, March 17, 2026

8:45 a.m. Annual Investment Seminar
Followed by Investment Committee Meeting

Those wishing to attend the investment seminar and investment committee meeting virtually may register using the link below:

https://strsoh-org.zoom.us/webinar/register/WN__fwej_0NQSSsC2O8EgtfeQ 

Wednesday, March 18, 2026

9:00 a.m. Disability Review Panel (Disability reviews will be conducted in Executive Session)
11:00 a.m. Ad Hoc Actuarial Committee Meeting
12:30 p.m. Legislative Committee Meeting
Followed by Human Resources Committee Meeting

Those wishing to attend Wednesday’s committee meetings virtually may register using the link below:

https://strsoh-org.zoom.us/webinar/register/WN_z8V3rjzLQZmjjYXBziN_HQ 

Thursday, March 19, 2026

9:30 a.m. Retirement Board Meeting

Those wishing to attend the board meeting virtually may register using the link below:

https://strsoh-org.zoom.us/webinar/register/WN_MSw2szkZRfKOSoKE2dj3nQ

The Retirement Board meeting will come to order on Thursday, March 19, 2026 and begin with board leadership elections, followed by public participation, a Report From the Finance Department, a Disability Presentation, the Executive Director’s Report, routine matters, old business, new business, and any other matters requiring attention.

Preliminary meeting materials will be available on the STRS Ohio website 48 hours before the meeting. Final meeting materials will be available approximately 30 minutes prior to the meeting. 

We must Stand Up for Rudy -- NOW

Rudy Fichtenbaum, chairman of the STRS board who has given his all (and then some, to put it mildly) to get retirees' COLA reinstated and to reduce actives' contribution and required years of service, needs our help more than ever. 

Please go to https://www.gofundme.com/f/stand-up-for-rudy-and-his-100000-commitment-to-you  to read more about Rudy and contribute as much as you are able, to Rudy's $100,000 out-of-pocket expenses for legal costs for the unfair lawsuit levied against him by the Attorney General. And watch Rudy's video. 

He does NOT deserve this kind of treatment for advocating tirelessly for all of us. We ALL need to do our part! Please show him your part in his much deserved support by donating now.

https://www.gofundme.com/f/stand-up-for-rudy-and-his-100000-commitment-to-you 

Urgent message fromBob Buerkle

From Bob Burkle

March 1, 2026

Calling on all 40,000+ of us on the "Ohio STRS Member Only Forum."  Please, we need to raise enough money to reimburse RUDY for the money he has had to pay for his own defense for standing up for you and me, when he could have been enjoying much more time with his grandchildren!

Our STRS pension plan is a mess because of inadequate funding by the legislature. Until Wade and Rudy came up with a possible way to generate greater investment returns, NO STRS Executive, or their investment team, or their hired consultants had come forth with any new ideas since the 2008-09 Great Recession.

The plan Rudy tried to present to the Board was sabotaged by STRS Management, the head of STRS Investments and their hired Consultants. The presentation was ruined and never completed as planned and the OEA Board Majority turned it down. Nothing more was pursued by Rudy or Wade, yet 3 years later, when we won the final 7th elected Board seat, our own STRS Lawyers sent a 14 page letter to the Governor and a few days later the Ohio Attorney General filed the lawsuit against them. Yes, we do live in a state where our legislators and our legal system have many corrupt actors.

Rudy has provided a one-minute video in the link.  Please click on it below and donate today, then forward this to your retired friends and active teachers.

Fundraiser for Rudy Fichtenbaum by Cindy Murphy : Stand Up for Rudy and His $100,000 Commitment to You

https://www.gofundme.com/f/stand-up-for-rudy-and-his-100000-commitment-to-you 

Donate to Stand Up for Rudy and His $100,000 Commitment to You, organized by Cindy Murphy

~     ~     ~     ~     ~

Go here to read more about Rudy and to download a flyer to give to others to encourage them to donate to GoFundMe to help with his legal expenses:

https://docs.google.com/document/d/19tYMVW5BLJ1-idQNUQxHP3tvNW35exyMGKIR62V1ygE/edit?fbclid=IwY2xjawQTFyBleHRuA2FlbQIxMQBicmlkETFCYUZONkx

UcnlaSDREWFhSc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg

5MgABHhlbMWOIRUpbA5cQYIulzPurkhjtH6nJRZmLa8B1y-Tiuh-u5-JH7B6FrgeH_aem_U1XXXayXN5l3lIQFVKxhPA&pli=1&tab=t.0 

Chris Tobe: Columbus: The Highest Public Salaries in America — and Ohio Teachers are Paying for It

By Chris Tobe, October 31, 2025

In a shocking irony, the highest-paid public employees in the United States are not Governors, Presidents or Cabinet officials— but staff at the State Teachers Retirement System of Ohio (STRS), based in Columbus, Ohio.

Teachers, meanwhile, have been denied modest cost-of-living adjustments (COLAs) for years, told the fund “can’t afford it.”

At the same time, investment staff in that same building are pocketing Wall Street–level pay — and the Ohio Attorney General’s office is spending taxpayer money protecting the excess in a sham trial going on this week.

1. A Two-Tier System of Public Servants

STRS is one of the largest public pensions in America, managing about $90 billion for active and retired teachers.
Yet in 2024 alone, according to Ohio’s official Checkbook transparency portal, the system paid out staggering salaries:

• 4 employees earned over $600,000.
• 20 employees earned over $400,000.
• 49 employees earned over $300,000.
• 85 employees earned over $200,000

STRSsalaries2024.csv.

By comparison, the average Ohio teacher earns $68,000, with many retirees living on less than $45,000 per year — without a COLA.

In 2019, STRS had only one employee earning over $600,000. By 2024, there were four, with salaries and bonuses doubling or tripling across multiple positions.
The growth wasn’t driven by investment success — STRS underperformed comparable funds, ranking in the bottom quartile nationally — but by internal decisions to inflate pay and bonuses.

2. The “Lawfare” Campaign: How Reform Was Crushed

Read the rest here.

Wondering why your grocery bill is so high? You'll find some answers here:

https://ohiocapitaljournal.com/2026/02/24/trump-axed-a-probe-into-grocery-collusion-ohios-u-s-senate-candidates-wont-talk-about-it/?emci=c524d176-c310-f111-a69a-000d3a57593f&emdi=366e7cfb-6f11-f111-a69a-000d3a57593f&ceid=625949 

Read it here: EPSTEIN, APOLLO, AND OHIO TEACHERS’ BILLIONS

While Columbus debates Leslie Wexner’s legacy, another Epstein-related name sits quietly in the background of Ohio’s teacher pension system:  Apollo Global Management. 

EPSTEIN, APOLLO, AND OHIO TEACHERS’ BILLIONS | The CommonSense 401k Project

Dan MacDonald to STRS board: Will the proposed budget address the needs of retirees or STRS staff? Let us not forget the salary study and pay increases received across the spectrum with the Board voting to enhance in some areas where no raises were recommended.

From Dan MacDonald

February 20, 2026

WILL BUDGET ADDRESS ACTIVES/RETIREES NEEDS?

Mr. Chair and members of the Board, good afternoon. I am Dan MacDonald, an STRS retiree with 38 plus years of service and Executive Director of Local 279R, Northeast Ohio AFT retirees.  Happy belated Valentine’s Day.

A Cleveland political reporter, Morgan Trau, reported that our current STRS Board Chair plus the former Governor DeWine’s appointed Board member, will not face criminal charges related to alleged ethics violation after the state referred the case to the Columbus City’s Attorney’s Office. Through a records request, the city’s attorney office decided not to press charges saying there is not enough evidence to prove that the men knowingly broke the law by accepting money from the Ohio Retirement for Teachers Association (ORTA) legal defense fund. Congrats, chair. [Clap]

Why is this important?  Well, Attorney General Yost has accused them of corruption, and in my estimation, is trying to bankrupt them. Let’s also not forget that an initially anonymous whistleblower document claimed that QED and ORTA worked together in elections, a document emanating from STRS. I have another document emanating from STRS, not anonymous, titled STRS Ohio Retirement Benefits, 58 pages long. This was given to me by STRS Benefit staff when plotting my retirement and recently rediscovered while doing estate planning. Page 1 states, Quote “Let your workbook series help you plan now for an active, happy and secure [my emphasis] retirement later.” Unquote. Page 38 states, Quote “A cost of living increase, up to 3%, is automatically granted each year. The increase is based on the preceding calendar year’s Consumer Price Index and the number of points in the benefit recipient’s cost of living account. A benefit recipient establishes a reserve account the first year on which the increase in the proceeding calendar year’s CPI is more than 3 %.  Points above 3% are put into the reserve to be used in future years.” Unquote.

My point?  The 2026-27-year budget will soon be presented. Will the proposed budget address the needs of retirees or STRS staff? Let us not forget the salary study and pay increases received across the spectrum with the Board voting to enhance in some areas where no raises were recommended.

As always, the needs of actives and retirees clamor to be addressed, the reason for STRS’s existence.

Dan MacDonald's report on the February 2026 STRS board meeting

BULLETIN: FICHTENBAUM REMOVED

On February 19, 2026, Franklin County Judge Karen Held Phipps issued a ruling in a case that found Wade Steen and Dr. Rudy Fichtenbaum violated their fiduciary duty and are prohibited from serving as STRS Ohio board members.

Link: https://www.ohioattorneygeneral.gov/Files/Briefing-Room/News-Releases/2026-2-19_Ruling.aspx 

Report on STRS board meeting February 17-18, 2026

ASSUMPTIONS REMAIN THE SAME

STRS February’s Committee meetings commenced on Tuesday, February 17th with the Investment Committee followed by the Human Resource Committee. I was attending the 279-R General Membership meeting in CLE and by the time I arrived at STRS, the meetings had concluded.

Reviewing the handout, December’s return was a positive 0.6%, making the net total return for the fiscal year a positive 7.5%. January’s preliminary fund return was a positive 1.5%, making the net total return for the fiscal year a positive 9.1%. Total investment assets ended January at approximately $107.0 billion, higher by $6.4 billion in FY 2026. [Reminders: The 2026 fiscal year began July 1, 2025, ends June 30, 2026.  The Rate of Return STRS currently seeks per calendar year is a minimum of 7.0%] The Investment Committee also had quarterly reports by outside consultants Meketa and Callan plus reviewed and adopted the Investment Committee Charter. The committee did an initial review of the Defined Contribution Plan Statement of Investment Objectives and Policy. The Human Resource Committee also met, and I was told, they elected a chair, Michelle Flanigan, then adjourned.

The Board meeting was called to order on February 18, 2026, and December and January minutes were approved. The Finance Department then had outside consultant Cheiron review economic assumptions [Think Discount Rate/Rate of Return, Inflation forecasting, Salary Scale which includes benefits, and Payroll growth which comes from actives and school districts] and discussed "guard rails” for the Sustainable Benefit Plan. Scenarios were presented using past STRS returns to illustrate high returns followed by low returns, low returns followed by high returns, straight 7% returns for ten years, and a couple others.

As stated, Cheiron ran 1997 to 2006 in high returns then suddenly low.  Cheiron simulated lower returns than high using return data from 2000-2009. Against each scenario, Cheiron showed what happened to the fund if there were no benefit changes, if maximum benefit changes were made each year and two mixes in-between. A very thoughtful discussion occurred.  [In decent economic growth, we tend to forget about the tech and real estate bubbles, COVID, and other happenstances that cause the market to plunge and the fund to plummet. Although the exact mix will probably never happen again, using STRS’s own data returns over ten years was enlightening.]

At the end of FY 2025, we were 80.3% funded, with 11.8 years to fully funded as long as assumptions are met and no benefit changes, no additional liabilities. [Think 34 years to teaching retirement or no COLA for 12 years or no STRS salary raises for 12 years. Not going to happen. I suggest to all to look at the video of this portion of the meeting by going to strsoh.org and under the top banner “About” go to Board meetings or review the materials under the Finance Committee Report under February’s Board meetings.]

Public Participation followed with ten speakers, all retirees.  [Two were fantastic.  Again, consider reviewing this part of the meeting by going to strsoh.org and find February’s meeting under “About.”]

Chair Fichtenbaum honored STRS Communication Director Dan Minnich on his retirement and also Darold Johnson, Legislative and Political Director for OFT on his upcoming retirement.

After lunch, outside consultant, Global Governance Advisors, shared results from a Board survey and had a brief discussion of the Strategic Plan, which was moved and passed.

Executive Director Toole presented his Executive Director report, followed by Routine Matters and then Old/New Business. The meeting adjourned at 3:40 p.m.

An all-day Financial Day will be part of the next Board meeting. It will be on Tuesday, March17. The 18th and 19th are also being held for the Board meeting and Board committees.

Dean Dennis to STRS board 02/18/2026: If a public pension system evades the rules, it breaks the equivalency that underlies its very legitimacy as a pension system.

 

Trina Prufer's comments to STRS board 02/18/2026: "Believing the Moon is Made of Green Cheese"

 

Robin Rayfield to STRS board 02/18/2026: Goals for ORTA that are closely related to STRS board and decisions they make

 

Cathy Steinhauser to STRS board 02/18/2026 Five suggestions for change for the new executive director

 

Robin Beebe's speech to STRS 02/18/2026 (listen for the crickets!)

      My name is Robin Beebe. Retired Master's Degree 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 17 years. Denied my full 3% COLA's. Denied approximately $120,000 and counting.

     I had to step away from attending STRS Board meetings and delivering my 3 minutes of Public Comments to help take care of our newborn grandson and his 4 year old Big Brother, two FUTURE PUBLIC SCHOOL STUDENTS.

     It is important to try to be back in person, as much as I possibly can, to witness what goes on at good old STRS.                              S.....is for SNIFFED (woof, woof)

                                         T.....is for TIMED ("1 minute")

                                         R.....is for RESTRICTED (from most areas of the cavernous Taj)                                                                               S.....is for SCANNED (like at airport security)

                                                    or should that be S.....is for SCAMMED?????

   

     Well, I know you have heard "crickets" from me lately. But, likewise, I have heard "crickets" on many serious matters at STRS. Hence, my talk today is titled "CRICKETS : PART 1"

     The latest STRS "Sustainability Plan" calls for a "maybe 1% COLA for the next 20 years". YIKES! GOOD GOLLY, MISS MOLLY!!! Why is there no meaningful "robust discussion" (to use a favorite term of this board) on how to honor your obligation and restore our denied 3% COLA's??

                                                              Just.....[crickets]

     I sense that this may be an "OUT WIT", "OUT PLAY", "OUT LAST" Survivor game to STRS, hoping we retirees all die off eventually, and nothing will need to be restored. 

                                                              Then, sadly, it truly will just be.....[crickets]

     Why is there no "robust discussion" about the huge losses of our Real Estate holdings and high salaries paid?

                                                               Instead....[crickets]

     Why is there no "robust discussion" to seriously study selling the gigundous TAJ or at least renting out office and garage parking spaces?

                                                               Here come the.....[crickets]

     Why has there been no motion made to restore real power to the Board by rescinding the 2021 ORSC Resolution(Section 3307.04) which gave the Executive Director power to override the STRS Board's decisions???

                                                                Just hearing.....[crickets]

     At a minimum, why has there not been an apology issued by our STRS attorneys/legal counsel for writing the infamous "Anonymous Letter"??? Or perhaps, is a vote of No Confidence still in order??? Which is it???

                                                                Hmmmmm.....[crickets]

     On the Private Equity front, during one slide presentation, it was proclaimed how CLOSE the "alts" came to ALMOST beating the Russell Index. But then I read in the small print, "net the fees and expenses"! And methinks, therein lies the rub. "Net the fees and expenses", I suspect the actual profits are far, far, far less than indicated. With Private Equity, those "fees and expenses" NEVER have to be disclosed, do they????? The "fees and expenses" are secretive, aren't they???? As my teacher-friend stands up and asks at EVERY meeting, "WHAT ARE THE FEES?"

                                                                 And so, we get.....[crickets]

     3 Minutes is clearly not enough for all the crickets to chirp. So, stay tuned for "CRICKETS: PART 2"

                                                                         [crickets.................]