Ohio Retired Teachers Association
Just after bonus controversy, Ohio teachers pension system to increase them again
Ohio’s retired teachers might have gotten only one 3% cost-of-living increase since 2017, but the staff that’s managing their pension funds is requesting a 31% increase in its already big annual bonuses. The same staff last year was awarded $10 million in bonuses and then reported $5.3 billion in losses — 77% higher than the […]
After other risky investments, Ohio pension system won’t say what it lost on failed bank
The Ohio State Teachers Retirement System still hasn’t said exactly how much of its members’ money it lost when Silicon Valley Bank failed last weekend. The system is already under fire for big salaries and for paying $10 million in bonuses last August — two months before actual losses of $5.3 billion came in for […]
Effort to claw back $10M in staff bonuses for Ohio teacher retirement system withdrawn
At least 200 employees of the State Teachers Retirement System of Ohio made more than $100,000 a year in 2021. An earlier version of this story said that all of the system’s employees listed on the Ohio Checkbook database made more than that, but that was inaccurate. A spokesman said more than half of the […]
Just after giving out $10M in bonuses, teachers retirement system announces $5.3B in losses
The Ohio State Teachers Retirement fund in August voted to give its employees $10 million in bonuses even though it estimated that it had lost $3 billion during the fiscal year that ended July 1. On Thursday, the official numbers came in showing that the fund’s losses were actually much larger — $5.3 billion — […]
Retired teachers go to court for Ohio pension records
An analyst working for Ohio retired teachers went to court last week seeking records relating to the state pension funds. The analyst is trying to determine whether teachers' pension money is being squandered on high-fee "alternative" investments such as private equity and hedge funds. He is also investigating whether external consultants directing such investments are also being paid by the firms in which retirement system money is being invested.