State Teachers Retirement System

The interim leader of the pension fund that manages $90 billion for current and retired teachers in Ohio said she will be retiring at the end of the year.

The eyes of Wall Street and the half-million members of the State Teachers Retirement System of Ohio are on the state as the drama unfolds. A special meeting has been called for Thursday of a board nearly paralyzed by infighting whose executive director is on long-term leave over misconduct allegations he denies.

Ohio’s Republican attorney general is suing to remove two members from the board of the state teachers’ pension fund, saying he's on the side of retired teachers.

There’s big money and Ohio teachers’ financial futures hanging in the balance.

The $90 billion Ohio teachers’ pension fund was the issue in a lawsuit filed Wednesday by the state to remove two of its board members, and at a meeting a few hours later the board voted to install one of those two as chair.

Ohio Attorney General Dave Yost's suit claims board members Wade Steen and Dr. Rudy Fichtenbaum seek to steer as much as $65 billion to a shell company.

A special audit found no fraud but suggested Ohio lawmakers need to make more transparent the fund’s investment strategy and performance incentives.

The forensic investigator is raising questions about the whereabouts of a special audit of the State Teachers Retirement System announced more than a year ago, which came about after a report he did for retired Ohio teachers.

Retired teachers are angry that payments are going out though the fund lost $3 billion in the last year, and there's no plan to permanently restore cost-of-living increases.

The State Teachers Retirement System of Ohio is set to award bonuses to its investment staff Thursday.