Upheaval at Ohio teachers' pension fund continues with lawsuit, removal of board chair

Turmoil at the $90 billion teachers’ state pension fund has gone from the meeting room to the courtroom and back.

Just hours before the State Teachers Retirement System’s monthly board meeting, Attorney General Dave Yost filed a lawsuit Wednesday to remove two board members he said are trying to seize control and put a private investment company in charge of most of the fund’s money for their own benefit.

It's the latest in a saga that goes back years, as retired teachers have fought the STRS board to reinstate an annual cost of living adjustment (COLA), and to be more transparent about the fund's investments, fees and staff bonuses.

Read Karen Kasler's full report at https://www.statenews.org/government-politics/2024-05-15/upheaval-at-ohio-teachers-pension-fund-continues-with-lawsuit-removal-of-board-chair

Karen Kasler, The Statehouse News Bureau May 16, 2024

A sign put up on the window of the STRS board meeting room by retired teachers attending the meeting on May 15, 2024. Retired teachers have attended the meetings for years to draw attention to their concerns about the fund's investments.