COLUMBUS, Ohio-The State Teachers Retirement System of Ohio is under scrutiny following the emergence of a 14-page anonymous memo alleging a “hostile takeover” by private interests. Governor Mike DeWine has forwarded the memo to various state agencies for review, including the Ohio Ethics Commission and the attorney general.
Attorney General Dave Yost has announced an investigation into the matter, with the authority to remove pension board members who breach their fiduciary duty. STRS Ohio, managing approximately $90 billion for 500,000 teachers and retirees, faces significant internal upheaval, including board control shifting towards “reformers,” the executive director being placed on leave, and Aon, a consulting firm, terminating its contract prematurely.
