COLUMBUS, Ohio-At the State Teachers Retirement System Ohio (STRS), internal strife and external pressure for reform are evident. The pension system, managing $90 billion for half a million Ohioans, faces board conflicts and executive leadership issues. Aon Consulting terminated its contract early, adding to the turmoil.
With an 11-member board comprising appointees and elected teachers, a pivotal election looms to replace outgoing Chairman Dale Price, potentially shifting board control. Drama ensued at the April board meeting when Wade Steen, reinstated by a court decision, reentered the board, aligning with reformers advocating for substantial changes.
The Ohio Retirement for Teachers Association, supporting Steen, aims to reinstate retiree cost of living adjustments, curtail administrative expenses and high-risk investments, and enhance transparency. Questions linger regarding the association’s funding of Steen’s legal fees, potentially conflicting with ethics laws.
https://finance.yahoo.com/news/ohios-teacher-pension-fund-faces-020018215.html?fr=sycsrp_catchall
