Findlay’s own state treasurer, Robert Sprague, has an important decision to make — arguably the biggest decision in his rising political career
As state treasurer, he is charged with appointing a member on to the State Teachers Retirement System board of trustees. And his past appointee just resigned, meaning he has an open position to fill.
This matters to me because I am a retired teacher, and STRS is a dumpster fire.
Faced with massive unfunded liabilities resulting from poor fund management and investment strategies, STRS has been forced to cut teacher benefits and make riskier investments.
I haven’t received a cost-of-living-increase since 2017, meaning my monthly check is the same today as it was years before COVID entered our lexicon.
The good news is that five of the 11 members of the STRS board are committed to reform and replacing the existing leadership at STRS, who continually refuse to accept responsibility or even acknowledge there is a problem. It’s way past time to “throw the bums out”… in this case the STRS executive director and the Wall Street banks who pillage our fund by charging their “investment fees.”
Sprague has an opportunity to appoint a member to the STRS board who is committed to reform and accountability. Sprague knows that STRS mismanagement has resulted in lost COLA’s and broken promises for retired teachers. I know he knows because thousands of teachers have signed petitions, called his office and emailed his staff informing them of this issue.
Let’s hope the treasurer has the courage to make the right decision and publicly states his commitment for new leadership at STRS. Candidly, it won’t take much courage… countless editorial boards, teacher unions and advocacy groups are calling for change. The only ones against reform are those who are making money off the failing fund.
John Curry
Wapakoneta
