Ohio’s State Teachers Retirement System controls $90 billion invested on behalf of 500,000 retirees. Now the state’s Republican attorney general is suing to remove two members from the board that manages the teacher pension fund. Attorney General Dave Yost claims the members have breached their fiduciary duties.
Reform-minded members have been complaining about a lack of transparency on the board and the suspension of cost-of-living allowances for retirees.
On Cincinnati Edition we’ll examine the upheaval, the lawsuit and how the money is managed.
Guests:
Laura Bischoff, reporter, USA Today Network Ohio Bureau
Adam Bird, Ohio State Representative, R-New Richmond
Robin Rayfield, executive director, Ohio Retirement for Teachers Association
Ways to listen to this show:
Tune in live at noon ET M-F. Call 513-419-7100 or email talk@wvxu.org to have your voice heard on today’s topic.
Catch the replay on 91.7 WVXU and 88.5 WMUB at 8 p.m. ET M-F.
Listen on-demand. Audio for this segment will be uploaded to this page by 4 p.m. ET., or subscribe to our podcast.
STRS Ohio Board members Rudy Fichtenbaum and Wade Steen are incurring legal fees, defending themselves against the lawsuit brought against them by A.G. Dave Yost. ORTA will use donations from the Pension Defense Fund to help them, if needed, pay their legal expenses. They have volunteered their time to support Ohio's teachers. Now it's time for us to show our support for them! Make a donation today to the ORTA Pension Defense Fund
ORTA advocates for the pensions and benefits of Ohio's educators, demands accountability from STRS Ohio, and lobbies Ohio's legislators to provide a strong and sustainable retirement system. We rely on membership dues to continue our work. Join ORTA!
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