COLUMBUS, Ohio-A battle is unfolding over the future of Ohio’s $94 billion teacher pension fund, with reform efforts aiming to deliver promised benefits to retirees facing scrutiny. Ohio Governor Mike DeWine and Attorney General Dave Yost initiated an investigation into the State Teachers Retirement System of Ohio (STRS) following allegations of mismanagement and concerns about a proposed partnership with investment firm QED.
Reform-minded board members are accused of supporting a plan to allocate a significant portion of STRS assets to QED, prompting legal action from Yost. The proposed partnership with QED, which boasts an AI-driven trading strategy, has raised concerns about transparency and potential risks. While some view the reform efforts as essential for addressing years of opaque management and insufficient benefits for retirees, others warn of the dangers posed by untested investment strategies. The ongoing dispute highlights broader issues surrounding public pension funds and underscores the importance of transparency and accountability in managing retirement assets.
What comes next for Ohio’s teacher pension fund? Prospects of a ‘hostile takeover’ are being probed
