The outgoing head of Ohio’s troubled teacher retirement system said she's leaving the fund in strong fiscal condition despite turmoil at the top that her successor will inherit.
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In a recent interview with The Associated Press, Acting Executive Director and CFO Lynn Hoover said that the $94 billion State Teachers Retirement System of Ohio's returns over the short term, middle term and long term remain within the top 10% of peer funds around the country.“We’ve delivered,” said Hoover, who has seen her investment staff denied performance bonuses as part of recent tensions.
The top priority"is to get those filled and to get highly capable people in here that can continue this great legacy,” Hoover said. When the same whistleblower attorney who examined STRS' performance metrics also turned up in Minnesota to do something similar, The Blade of Toledo reported that records there showed Hoover and others communicated with their counterparts “to undermine the impact of the investigation.
At the same time, she acknowledged that members have had to bear the brunt of pension reform changes and high inflation and “it's been hard.”
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