After watching the dysfunction at the Ohio retired teachers’ pension fund for nearly a year, lawmakers are grappling with how to curb alleged corruption and possible mismanagement of the nearly $100 billion system. For one education policy leader, it’s taking away the voting powers of elected board members.
Some legislators fear the fund will be decimated and fail under current STRS board leadership, especially since it has become increasingly difficult to hire people to help run the fund.
Through a records request, I found out that STRS is paying more than $700,000 for their acting head, more than double their previous two. While one retired teacher sees that as the board’s mismanagement, a business law professor shares that it could be a sign that the fund is toxic, prompting other qualified candidates to steer clear…