Dr. Robin Rayfield addressed the STRS Ohio Retirement Board during Public Participation on February 20, 2025.
Good morning,
My name is Dr. Robin Rayfield, Executive Director of ORTA, and a retired member of STRS.
Yesterday I listened to the discussion of trust and the importance of trust as it relates to good governance of the pension system. I have always thought that trust and accountability go hand in hand. In most cases, trust cannot be established without accountability.
As you are aware, former STRS board member Wade Steen has filed an answer to the Attorney General’s case against him and Dr. Fichtenbaum. Under penalties of perjury Mr. Steen has declared his innocence against these charges. Steen states that he was never promised, never received, nor ever requested anything from QED. Media reports indicate the anonymous complaint at the heart of this mess came from within this building.
If the media reports are true, and the anonymous letter did come from STRS staff, there must be accountability for these actions. Remember, trust and accountability are welded together. One cannot exist without the other. The people that have initiated the attacks on Mr. Steen and Dr. Fichtenbaum have slinked around in the shadows and alleged that Fichtenbaum and Steen have breached their fiduciary duties by having an interest in QED, despite evidence that neither of these men have any interest in QED. Where is the accountability?
As you look for ways to increase trust at STRS to achieve good governance, accountability must play a role. There are numerous examples of a lack of accountability towards employees at STRS from the legal department to the investment department. As teachers, we are held accountable, not only for our own actions, but the actions of those we teach. When ‘bad advice’ or poor judgement is provided by staff at STRS, people need to be held accountable.
STRS has an opportunity to build trust with its membership. Now is the time for STRS to acknowledge that Mr. Steen and Dr. Fichtenbaum have been treated poorly by STRS. Better yet, an apology of action is in order. Words matter; however, actions are even more powerful.
Dr. Robin Rayfield, Executive Director Ohio Retirement for Teachers Association (ORTA)
STRS Ohio Board member Rudy Fichtenbaum, and former Board member Wade Steen, are incurring legal fees, defending themselves against the lawsuit brought against them by A.G. Dave Yost. ORTA will use donations from the Pension Defense Fund to help them, if needed, pay their legal expenses. They have volunteered their time to support Ohio's teachers. Now it's time for us to show our support for them! Make a donation today to the ORTA Pension Defense Fund