Who is Michael Harkness?

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I spent some years in the financial services industry, which included the sales and management of various fixed interest and investment vehicles. Being the first in my family to complete college, I now have multiple degrees, including a master's in educational leadership. I have been a volunteer head coach of a girls' fastpitch team for almost 10 years. I have always put people first in my career and personal life. I currently serve as the First Vice President of the Akron Education Association after spending 13 years as an Intervention Specialist with Akron Public Schools. Currently represent over 2000 teachers in the state’s largest independent education bargaining unit. 

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What are the main planks to your platform?

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1. 30 years of service and any age to qualify for full benefit.

2. COLA for our retirees

3. Transparency with clear communication to membership (of why we do what we do)

4. Protecting the overall health of the fund, both investment and health care trust. 

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Tell us about your background with STRS and any issues that concern you and relate to active members/retired members. What skills (include financial) do you bring to help you deal with the issues you have identified?

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My background with STRS is that I am 100% vested in this fund for my future. My wife and I are both teachers and members of this fund, and that is what started me wanting to be a part of the solution for the well-being of STRS. What has concerned me is the continued changes that have occurred over the years without hearing from the voices that matter, and that is membership. When my wife first started teaching 24 years ago, she was promised 30 years with a solid benefit, but over the years, it has gone out of control. The age requirements have changed, the years of service have changed, and most important the amount of benefit has changed. We understand that sometimes things must change, but what has always been forgotten is how we got to this place. Things have changed with little communication and more commonly with no explanation. 

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When I first graduated from The University of Akron in 2001, I spent about 5 years in the financial services industry. My specialty was focused on estate planning and managing retirement funds for clients. I worked for Western Southern Financial Services and then moved over to JP Morgan Chase. My time in this industry showed me the true importance of conservation of assets and making sound decisions with the focus on management cost and fee structures for clients. These clients for the most part was only pulling from the assets, and not putting more capital towards them. This meant that protection of their money was job number 1. 

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I am not saying that I am a financial expert but my time in the financial services business gives me a basic background in how investment firms structure fees and how they can impact the bottom line. You need to be smart and at times very prudent on choices that are made. 

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Feel free to offer any additional thoughts you have with regards to your candidacy.

 

In my short time on the board, I think we have made some great progress. Most notably was our ability to approve a benefit for current retirees and moving the years of service back to 33. We still have a lot of work to complete, and my hope is to continue this work. I would like to focus on growth for our current working members while making sure our retirees are having their needs met. We have seen record growth in the markets with not so much income equality. We must make smart financial decisions while meeting all the various needs of the people we provide for. I will work towards making our retirement platform a rock that people can not only depend on but feel confident we are making decisions that are developed that align with their goals as well.

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The information on this page was copied from the candidate's ORTA STRS Board of Trustee Candidate Screening Questionnaire and 

State Teachers Retirement System of Ohio Questionnaire for Retirement Board Candidates.​​