The "anonymous letter"
- Dean Dennis
- Sep 14
- 2 min read
Over a year ago, the STRS Ohio staff submitted to Governor DeWine a 14-page letter filled with unfounded allegations. This memo is often referred to as the “anonymous letter.”
Shortly thereafter, around May 14, 2024, the Ohio Attorney General filed a lawsuit in Franklin County, with subpoenas issued later in the year. Two STRS Board members, Wade Steen and Rudy Fichtenbaum, were the targets of these unfounded allegations. This case is slated for trial next month. ORTA is confident that they will be exonerated.
In the 14-page anonymous letter, the STRS leadership staff implied that a “hostile takeover of a public pension system” was in motion and implicated ORTA as being a part of it.
In the 14-page letter, ORTA was primarily accused of supporting board member candidates who would restore a COLA, and also supporting QED, a private investment firm. The staff was half right on this; ORTA supported board member candidates who would lobby for transparent investments, transparent fees, and more index investing. All this could work towards restoring a COLA and other benefits.
Although ORTA does support the board and staff when they want to entertain other investment ideas, as long as they are transparent, ORTA never took a position that QED should be hired.
This leads back to our pension plan, and to the STRS staff allegation that there is a “hostile takeover of a public pension system” taking place. Oddly, the STRS staff got that right too. However, it isn’t ORTA, it’s the Ohio Legislature.
We’re working to prevent this from happening. And where is the STRS legal staff in allowing it to happen?
It’s our pension plan. Please help us in this fight.
Dean Dennis, Chair ORTA Executive Council
