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  • STRS Ohio Watchdogs

Advocates for major reform at Ohio State Teachers gain board majority after court ruling

An Ohio Court of Appeals has restored an ousted Ohio State Teachers’ Retirement System trustee to its board, tilting the majority to reformers who are seeking to restore an annual cost-of-living adjustment, cut the investment staff and move to all index funds.

The 10th District Court of Appeals on April 18 ruled that Ohio Gov. Mike DeWine did not have the authority in May 2023 to remove Wade Steen as his appointed investment expert on the $94 billion Columbus-based system’s board before the completion of his four-year term.

Steen has been vocal in his support of a grassroots movement of retirees and active Ohio teachers angry about reduced or eliminated annual cost-of-living adjustments.

By Rob Kozlowski

Pensions & Investments



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