STRS Ohio Watchdogs

The culprits that are looting the pensions of public school teachers, firefighters, police, as well as private sector workers, are on Wall Street. The Wall Street casinos charging high fees for gambling in risky hedge funds and other speculative investments, outrageous investment-industry conflicts of interest, and outright violations of the law.

At the meeting on Thursday, the Council will review reports from the ORSC, which looked into the 'Retirement at Risk' document, as well as reports from consultants Pension Trustee Advisors (PTA) C and RVK. ORTA has reviewed these materials but still has questions that we hope the meeting will answer. None of the consultants' reports tried to reconcile the STRS numbers or explain why their stated (self-reported) numbers are so significantly off from their actuarial numbers.

The next attorney general must take a proactive approach to these boards and the Ohio Retirement Study Council. Years of turmoil need to end. For nearly a decade, STRS pensioners didn’t receive a cost-of-living adjustment — and that’s just the tip of the iceberg.