In the very final stage of this year’s state budget process, the legislature’s Republican leadership, under the direction of Speaker Matt Huffman and Senate President Rob McColley, inserted a proposal from Rep. Adam Bird that changed the composition of the STRS Board. While the Board currently has seven members who are elected by the STRS membership (five contributing members and two retirees) and four appointed members, the new composition of the Board will be eight appointed members and only three elected members. This gives partisan politicians control over our pension and negates the voices and activism of STRS members.
In recent years, STRS members have elected board members who take both their fiduciary responsibility and their responsibility to STRS members very seriously. They have only restored benefits – providing cost of living adjustments to retirees and lowering the years of service requirement for full retirement for active members – in situations approved by the fund’s actuary. They have also increased transparency at STRS, allowing members to have a clearer look at how their pension fund is being managed.
Even Governor DeWine thinks the STRS Board is moving things in the right direction. In April, he said in an interview, “I’m looking at it from afar, but it seems that the [STRS] board is working, and working in a productive way.” Yet, the Governor refused to veto this legislative overreach that strips power from educators.
Only STRS is affected by this policy change, but legislators are sending a very clear message to Ohio’s four other public employee pension funds: if you elect representatives who make decisions we disagree with, we’ll take over your pension fund.
Click "Start Writing" to tell your state legislators, the Speaker of the House, and the Senate President that educators deserve meaningful elected representation on the STRS Board. Tell them to introduce and pass legislation to restore our voice on the STRS Board.