Thursday, January 06, 2022

STRS 2022 Board Election Information 

2022 STRS Ohio Board Elections & Nomination Petitions

STRS Ohio Watchdogs

to STRS Ohio Watchdogs

Please share!

Three seats on the STRS Ohio Retirement Board will become vacant in 2022: two contributing (active) seats and one retiree seat.

Candidates are now circulating nomination petitions to be placed on the ballots for the 2022 STRS Ohio Retirement Board elections in the spring of 2022.

Electronic copies of signed petitions are not acceptable. Hard copies only!

  1. Print the petition.

  2. Sign the petition.

  3. Deliver to the candidate(s) by hand or mail ASAP. Candidates must deliver nomination petitions to STRS Ohio by February 25, 2022.

Only retired teachers can nominate retired candidates.

Only contributing (active) teachers can nominate contributing (active) teachers.

Retired teachers living out-of-state CAN sign nomination petitions. Your signature will apply to the 500 required signatures but not to the 20/county requirement.

Elizabeth Jones (Retired)

Petition: Mail signed petitions to Elizabeth Jones at 715 Castlegate Lane, Unit 301, Cincinnati, OH 45231.

Steven Foreman (Contributing/Active)

Petition: Mail signed petitions to Steven Foreman at 980 Eastward Circle, Zanesville, OH 43701.

Julie Sellers (Contributing/Active)

Petition: Mail signed petitions to Julie Sellers at Cincinnati Federation of Teachers, 2368 Victory Parkway, Suite 100, Cincinnati, OH 45206.

Wednesday, January 05, 2022

Ever wonder how much STRS shells out in bonuses?

Thanks to Tom Curtis, it's no longer a mystery. Here are the PBI (bonus) payments for Fiscal Year 2020-2021.

Sunday, January 02, 2022

Edward Siedle: New Ohio Qui Tam Law May Help Stop Looting Of All 5 State Pensions

New Ohio Qui Tam Law May Help Stop Looting Of All 5 State Pensions

December 13, 2021
Edward Siedle
Pension forensics expert and record-setting whistleblower award winner
Ohio is one of the few states in the country that does not have a state “false claims” law modeled after the federal “qui tam” law. That may be about to change. A long-overdue clean-up of all the state pensions may be coming if Wall Street vendors to the public pensions can finally be prosecuted under state law for fraud.   
Last week, State Reps. Jeffrey A. Crossman (D-Parma) and Paula Hicks-Hudson announced the introduction of an anti-corruption legislative package including the “Ohio False Claims Act” and a strengthened debarment statute that would require a ban of vendors who are caught committing fraud in their dealings with the State of Ohio. The Ohio False Claim Act is modeled after a federal statute that has been successful in recovering millions of dollars every year at the federal level. Ohio is one of the few states in the country that does not have a state law modeled after the federal government’s “qui tam” law.
“Ohio is potentially letting criminals get away with millions of dollars of ill-gotten taxpayer dollars by failing to adopt these long-needed and commonsense reforms,” said Rep. Crossman. “There is no reason why we shouldn’t adopt techniques like this to catch and punish fraud.”
The timing of Crossman and Hicks-Hudson’s anti-corruption package couldn’t have been better.
Earlier this year, a forensic investigation of the $90 billion-plus State Teachers Retirement System of Ohio commissioned by the Ohio Retired Teachers Association and performed by my firm, concluded that the state teachers’ pension had long abandoned transparency; legislative oversight of the pension had utterly failed; Wall Street had been permitted to pocket lavish fees without scrutiny; investment costs and performance may have been misrepresented; and failure to monitor conflicts may have undermined the integrity of the investment process, as billions that could have been used to pay retirement benefits promised to teachers had been squandered.
Within days of the forensic report’s release, two STRS Ohio board members issued statements supporting its conclusions. NBC News, Bloomberg and local media reported on the investigation. A few months later, the State Auditor announced that the forensic investigation provided a “reasonable basis” for his office to launch a Special Audit. Most recently, a complaint was filed with the Ohio Division of Securities which is being reviewed at this time.
Based upon the strong initial reaction to the STRS Ohio forensic investigation, a large group of participants in the Ohio Public Employees Retirement System asked me to create a OPERS GoFundMe project to fund a forensic investigation of their even larger $115 billion state pension.
Ohio’s 5 state pensions hold collectively approximately $250 billion in assets and represent the largest pools of public monies in the state. If you’re looking for the greatest potential fraud in connection with state contracts, look no farther.
The Ohio False Claims Act would:Set out civil penalties for violators;Allow for a person to bring civil action against the violator(s) on behalf of the State and of that individual;Allow for the State to intervene in civil actions brought by individuals on the State’s behalf;Set out guidelines for awarding proceeds from successful civil actions to the individual bringing that action;Set out remunerations for employees who are subjected to retribution by their employer for participation in the civil action. 
“These two anti-corruption bills are ways to further protect taxpayer dollars,” said Rep. Hicks-Hudson. “Currently, there are not strong measures to hold state vendors accountable for their actions and prevent wrongdoers from continuing to do business with the State. These bills will correct that.”
Read the rest of the article here.
Larry KehresMount Union Collge
Division III
web page counter
Vermont Teddy Bear Company