The HCRTA held a General Meeting Monday, May 1, 2023, at the Hillsboro Church of Christ. The meeting was attended by 29 members and 3 guests. Following Social time and the the meal, guest speaker Rudy Fichtenbaum, former Professor of Economics at Wright State University and now a retiree elected board member of the Ohio State Teachers Retirement System, spoke to the group about the roles of the STRS board and the current dynamics of the system. Dr. Fichtenbaum talked about how the various board members are selected (4 appointed, 7 elected) and that the board is responsible to look after the interests of both active and retired teachers (about 310,000 in all.) Dr. Fichtenbaum enumerated some of the responsibilities of the board including the approval of the investment asset mix , setting level of risk that STRS investors should take with their investments, performance monitoring of investment, determining Performance Based Incentives, setting investment benchmarks, organizing board committees, setting rules regarding meeting participation, decisions regarding COLAs, and hiring the Executive Director. Dr. Fichtenbaum concluded his time by addressing the dilemma of the COLAs, the problems, the costs involved, and possible resolution to the ongoing issue. After Dr. Fichtenbaum's presentation, President Faust conducted the usual business meeting with reports from officers and committees, and planning for future meetings. For the full meeting minutes, click here. |
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