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| 2005 STRS Ohio News E-mails |
| Retired Seat Appointment Expires on May 7, 2005 When the pension legislation, Substitute Senate Bill 133, became effective in September 2004, it included language regarding the term of office for Gov. Taft’s appointments to the public pension plan boards. The language noted that the retired member appointed to a board by the governor would only serve until the next regular board election rather than until the start of the next term. In the case of the State Teachers Retirement Board, this wording affects W. David Speas, who was appointed to the Retirement Board on Sept. 28, 2004, by Gov. Taft. The current wording in statute requires that he step down from the board on May 7, following the certification of this year’s election results by the board of tellers. Even if Mr. Speas retains his seat on the Retirement Board as the result of this election, he will not be able to serve on the board from May 7 through Sept. 1, 2005, which is the date the new term begins. STRS Ohio staff had worked with Sen. Lynn Wachtman (R-Napoleon) to have language correcting this issue included in an amendment attached to House Bill 25 as an emergency clause. This emergency clause would have meant the bill would become effective immediately after passage by the General Assembly. However, yesterday in the Ohio Senate, Democrats blocked the attachment of all emergency clauses to any bills, which delays the effective date of House Bill 25, including the amendment, for at least three months following passage by the House. This will not be in time to allow Mr. Speas to continue serving on the Retirement Board until the start of the next term. |
