COLUMBUS, Ohio-Gov. Mike DeWine has provided state investigators with over a dozen documents concerning the Ohio Teachers Retirement System, citing potential misconduct. The retirement system, embroiled in a struggle for control, faces new challenges as Aon, its consulting firm, plans to terminate its contract.
DeWine expressed concern over a possible “hostile takeover” by private interests and has forwarded evidence to various officials, including the Ohio State Ethics Commission and Attorney General Dave Yost. The pension, valued at approximately $94 billion, has faced criticism for its management and lack of cost-of-living adjustments for retirees. Retired teachers have raised suspicions about fees paid to Wall Street managers, advocating for board reforms. DeWine has clashed with reform-minded board members, leading to personnel changes within the board.
