Ohio teachers concerned after Auditor report raises retirement fund transparency issues
State Teachers' Retirement System confirms it has more than $27m invested in failed Silicon Valley Bank
By Joe Pagonakis
CLEVELAND — Some Northeast Ohio teachers like Terry Caskey have growing concerns about the health of the Ohio teachers' retirement system after learning STRS has $27.2 million invested in the now-collapsed Silicon Valley Bank.
Caskey, who has 25 years working with the Parma school district, is calling for changes after STRS lost $5.3 billion in 2022, yet still issued more than $10 million in bonuses to its employees.
Those of you who followed the Watchdogs on our old website know that there was a lot of information there. We are in the process of moving some of the posts, that we want to preserve and share with new Watchdogs, from our old website to our new website. This is one of those posts.