A Note from OFT President, Melissa Cropper...

OFT members who are part of Ohio’s State Teachers Retirement System (STRS)* should be proud of the work that OFT members have done in recent years to elect STRS Board members who prioritize restoring member benefits and pushing STRS to be more transparent and accountable. We’ve helped elect OFT members Dale Price (Toledo Fed. of Teachers), Julie Seller (Cincinnati Fed. of Teachers), Liz Jones (Cincinnati Fed. of Teachers—Retired), and Pat Davidson (Berea Fed. of Teachers), along with AAUP-AFT retired member Rudy Fichtenbaum.
These Board members have successfully pushed STRS to:

• Enhance transparency by providing materials and video recordings from STRS Board meetings.
• Reduce the 35 year requirement for a full pension to 34 years.
• Provide a benefit enhancement for retirees.
• Enhance healthcare active members and retirees.
• Change the policy for how bonuses are awarded, to prevent exorbitant bonuses.

But there’s still more work to do. That’s why OFT is proud to endorse Michelle Flanigan for this year’s election to the STRS Board. (Michelle is running for the seat that is currently held by Dale Price, who is not running for re-election).
Ballots will be mailed from STRS today. Please keep an eye out for this ballot so you don’t accidentally discard it.
You can return it by mail (postage is prepaid) or you can also vote by phone or online.
If you don’t receive a ballot by Wednesday, April 10, or if you misplace or accidentally discard your ballot, you can still vote! Email the Election Services help desk at STRSOHHelp@electionservicescorp.com or call 866-276-1506. Share this information with your colleagues or other STRS contributing members!
Michelle has worked as a Government, Economics and Financial Literacy teacher at Brunswick City Schools for the past 26 years. She worked as a financial analyst prior to becoming a teacher. Michelle is also a long-time activist for retirement security and was recognized in 2023 as the Ohio Retirement for Teachers Association’s first “Member of the Month.”
Michelle's goals as an STRS Ohio board member:

• For active teachers: Move the requirement for full retirement as close to 30 years as possible, as soon as possible. Decrease the 65 years of age requirement for those teachers who attain full benefits by age rather than years of service. Move to less harsh, actuarially equalized penalties for those who wish to retire early.  
• For retirees: Restore a reasonable annual COLA that allows retirees an increase in purchasing power, as quickly as possible.
• For STRS administration: Shift away from questionable, high-fee private equity investments. Reduce unnecessary spending. STRS exists to pay teacher benefits and this organization needs to refocus all efforts with that goal in mind.

Michelle’s plan to achieve these goals:

• Begin by asking the actuaries to reexamine assumptions for rates of return, funding goals and timelines. Slight tweaks to these assumptions could free up funds for benefit restoration.
• Look at other funds and states to provide examples of investment structures that give the greatest returns for the lowest cost and risk. There are options if you look for them.
• Insist upon reductions in administrative expenses and eliminate spending that is not focused on providing teacher benefits.

You can read more about Michelle on her website. Please look for your ballot in the mail and vote as soon as possible.
In Solidarity,
Melissa Cropper, President