October 2021 ORTA Newsletter
Keep up-to-date with the latest newsletter from ORTA. In this issue, you will find:
Updates from ORTA Communications Director, Alissa Burton
Updates from ORTA Executive Director, Robin Rayfield
STRS news and updates
Links to the Forensic Audit of STRS
Updates from Ted Siedel, author
Member benefits, renewal information, membership cards, etc.
ORTA has been active in spreading our message regarding what is taking place at STRS. The forensic audit conducted by Mr. Siedle and released in June of this year revealed significant issues or irregularities in the management of our pension fund. In a nutshell several findings were presented in the preliminary report The High Cost of Secrecy.
ORTA Presented Ted Siedle October 13
ORTA presented an event with featured speaker Ted Siedle on October 13, 2021. You can watch a video of Mr. Siedle’s talk at the ORTA website (www.orta.org). Mr. Siedle explained several ‘concepts’ related to what is going on at STRS. Because STRS is not transparent, it is difficult to know exactly how poorly our investments are doing. Instead of focusing on numbers, Mr. Siedle focused on concepts like:
Lack of transparency
Paying fees on uncommitted capital
Conflicts of interest
Additional presentations were made by Chris Tobe and Marc Dann. Chris is a pension expert and consultant that has recently written the book Kentucky Fried Pensions detailing the problems with the public pension system in Kentucky. Marc Dann is the attorney representing Mr. Siedle in his efforts to get financial records from STRS.