Toledo Blade cartoonist Kirk Walters lampoons STRS Ohio.

The lavish bonuses given out to managers of the State Teachers Retirement System of Ohio have long been criticized by this editorial board and others. Now a financial journal is weighing in with evidence that supports the case.

A major respected journal has just used STRS as a case study of a serious pension governance problem. The only path is to address the problem. Simply starting to pay bonuses now on audited numbers is not enough. We suggest that an outside and independent entity be hired to address this problem and restore credibility to the pension.

"The director Doug Orchard does a great job telling the story of how public pension funds across the United States have been taken over by Wall Street alternative investments such as private equity through secretive accounts." - Jim Vail

A message from Gretchen Morgenson, NBC Senior Financial Reporter, to members of STRS Ohio Hello Ohio STRS members. I'm a reporter at NBC News who has covered the problems at STRS in the past and has recently heard from many members that it's time for another story. A place for me to start might be to hear from members who are experiencing financial hardships as a result of the pension's practices. I'd welcome members' stories at my work email: gretchen.morgenson@nbcuni.com. T

"A look at the two pictures I have given you shows the normal way pensions are funded, as presented by Cheiron in October, 2024. It's been the same since Harvard published this diagram in 1965. But look what STRS has done to it. Instead of three income sources STRS has added a fourth, through its devious manipulation of the total pension package that Retirees were promised."

Pension Fight Club is an investigative documentary by awardwinning filmmaker Doug Orchard that provides a national examination of the systemic financial risks and lack of transparency currently facing public retirement funds, including the State Teachers Retirement System of Ohio (STRS Ohio). 30 years ago, public pensions were in great shape. Not anymore. What's going on? This groundbreaking 2026 documentary is a first-of-its-kind exposé that takes the most comprehensive look

In my previous post, Why Is It So Hard to Beat an Index, I explained how an index works and why it is hard in theory to beat an index. In this post, I review the results compiled by Standard and Poor’s (SPIVA), the definitive source of information comparing index investing to active investing, to see how active management underperforms index investing.

Attend the free premiere of the new documentary, Pension Fight Club, at the Crest Theater in downtown Sacramento on Tuesday, May 19th. The documentary will be released to the public after the premier on May 19th.

To understand how the stock market works. When a company goes public, i.e., makes its stock available on a stock exchange, there is normally an initial public offering. Once that offering has been sold, the stock is available for trading daily.

ORTA has sent the attached letter to all Ohio state legislators (Senators and Representatives). The purpose of this letter was to clearly outline the loss of benefits to STRS members and provide important background on the ongoing challenges facing our retirement system. After contacting your elected officials, please share their response—or lack of response—with the ORTA office. This information is critical as we continue to advocate on behalf of Ohio’s retired educators.

"Had I been at the meeting, my response to Mr. Bird would have been, the burden is on you and your fellow legislators to increase the employer contribution so that STRS can keep its promises." - Rudy Fichtenbaum

Members might want to attend or tune into Tuesday’s STRS Investment Seminar. To the surprise of nearly everyone, Investment Committee Chair Alison Lanza Falls has invited Senator Mark Romanchuk and Representative Adam Bird to the seminar. They are scheduled for the 11:30 - 12:15 time slot. Here is why their attendance is interesting.

Ohio Retirement Study Council Chairman Adam Bird and Vice Chairman Mark Romanchuk will be the Special Guests at the STRS Ohio Retirement Board meeting on March 17 at 11:30 am. Why did Rep. Bird and Senator Romanchuk request to speak at the first STRS Board meeting after Dr. Rudy Fichtenbaum was removed from his seat as Board Chair? And what does this mean for Ohio's teachers?

In recognition of Rudy’s dedication to Ohio teachers, please consider donating any amount you can to help him pay his significant legal fees. If you’re unable to donate, you can still help by sharing his GoFundMe on your social media and with your network.

Rudy Fichtenbaum stood up for Ohio's teachers. Now it's our turn to stand up for him. Please donate to his GoFundMe campaign to help him pay his legal fees.

Nearly every year, the State Teachers Retirement System (STRS) holds an election to fill one of our seven allotted seats on the Board; the other four seats are appointed. Dr. Rudy Fichtenbaum has twice won his election by landslide margins as STRS members moved toward selecting Board members intent on addressing the problems that led to drastic cuts in member benefits. Fellow Board members recognized Rudy’s skill set and voted him as their Board Chair. To date, Rudy has spent

And here is where the harm deepens: STRS also hid its consequences, even though it was bound by a fiduciary duty to forewarn.

The conclusion of testimony against two board members of the State Teachers Retirement System, Wade Steen and Rudy Fichtenbaum, leads us to believe that the case is full of holes and should not have been brought in the first place.

“When I think of STRS, I think of the beneficiaries, the teachers,” Steen testified Friday. “The rest of us are all support staff, whether we’re board, whether we’re investment staff, whether we’re helping process claims — whatever we do, we’re support staff to the teachers.”