After years of complaints about gold-plated salaries, billions in investment fees and lackluster returns, things seem poised to hit the fan at Ohio’s State Teachers Retirement System.
Gov. Mike DeWine on Wednesday issued a press release saying that he was alarmed at the news that a consultant for the $90 billion retirement plan, Aon, was severing its contract.
The statement also cited unspecified allegations against members of the pension fund’s board, to which the governor appoints some members. Retirees have long complained of rarely getting cost-of-living increases while the retirement system awarded huge bonuses to already well-paid investment managers. For example, the system in 2022
DeWine himself has fueled some of the controversy at the retirement system. Exactly a year ago, just as reformers were about to achieve a majority on the board,
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