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Ousted Ohio teachers’ pension fund board member claims wrongful removal in lawsuit

“I do know that I’ve asked a lot of questions about benchmarks, about performance, about our investments and alternatives,” Steen previously told NBC4. “Our investments in hedge funds, the amount of fees we pay, the performance we get, have all raised questions.”

Colleen Marshall, Mark Feuerborn NBC4 Columbus Jun 8, 2023

A member kicked out from overseeing Ohio’s teacher retirement system is now taking his former pension board and the governor to court.

Investment expert Wade Steen filed a lawsuit in the Tenth District Court of Appeals naming the other members of the State Teachers Retirement Board as well as Ohio Gov. Mike DeWine as defendants. The complaint document drafted by Steen’s attorney accused them of one charge of usurpation of office, and disputes claims that he wasn’t regularly attending board meetings, resulting in DeWine replacing him with G. Brent Bishop.

From time to time, we post articles from the past to build a record of ORTA's fight to protect and preserve the retirement benefits of Ohio's teachers. This is one of those articles.



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