Governor DeWine's Response to Letters Condeming His STRS Board Appointments
Thank you for your email.
Governor DeWine agrees with your concerns about the health of retired teachers’ pensions. He has supported the need to provide annual COLAs for retirees.
Governor DeWine believes the State Teachers’ Retirement System (STRS) is responsible for providing a secure pension fund for current retirees and for future teacher retirees. He believes it is vital that STRS, management and Board have the trust of retirees and the ability to provide for a healthy investment strategy and a fair retirement system.
Last year, Governor DeWine supported Auditor Faber’s special audit of STRS; he publicly questioned how investment staff received bonuses when the retirees they serve received no raise. You can read more about this long-held stance here.
After careful consideration, Governor DeWine found it necessary to make a change in his STRS Board appointment. The Governor acted after the teachers’ vote and before election results were counted, specifically because he wished to avoid acting at a time that might interfere in this important election.
Governor DeWine expects his one appointee to the STRS Board to ask tough questions and to think long and hard about investment strategies. After all, the fiduciary responsibility of this Board is vital to the long-term health and well-being of our retired teachers and future retirees; and frankly, to the profession itself which is so vital to Ohio’s children and a well-educated and prosperous society.
The Governor believes that whoever his appointee to the STRS Board is MUST attend meetings and fully participate in transparent and vigorous discussion.
It is far past time to take a fresh look at the investment strategies, the vendors and the STRS management. Teachers rely on yearly increases to keep up with the cost of living. Teachers rely on this organization to support them after they have given themselves and their careers to shaping the future of our kids. The Governor determined that this fresh look required him to make a change to his appointee. The accusation that the Governor illegally revoked his former appointee’s appointment is false. He acted in what he believes is in the best interest of retired and current teachers.
Governor DeWine will continue to advocate on behalf of Ohio’s teachers and retirees. They deserve nothing less.
Again, thank you for contacting our office. If we can ever be of assistance to you in the future, feel free to contact us.
Very respectfully yours,
Rick Savors
Constituent Aide
Office of Governor Mike DeWine
77 South High Street, 30th Floor
Columbus, OH 43215
Editor's Reply:
I believe we must observe carefully the actions and words of Mr. Bishop, Gov. DeWine's STRS new Board appointee, and see how well they implement the clearly stated intentions of the Governor. I remain highly skeptical and believe some group, whether union or Wall Street, put a lot of pressure on the Governor to assure maintaining the status quo. The next election for a board seat comes up in 2024, leaving more than enough time to see real proof of the beliefs stated in the Governor's letter. We must be vigilant and prepared for the next steps in reforming our STRS. (A link in the letter above to the Columbus Dispatch was omitted because of copyright.)