Excerpt from the Cincinnati Enquirer
Ohio’s top political leaders are telling the State Teachers Retirement System to hold off hiring a new executive director.
Gov. Mike DeWine, House Speaker Matt Huffman, Senate President Rob McColley and Ohio Treasurer Robert Sprague signed a one-page letter on May 8 to the State Teachers Retirement System.
The politicos asked the board to wait until the June board meeting to vote on the new executive director. Three finalists for the job were named in April.
The 11-member board, which oversees $95 billion invested for 500,000 teachers and retirees, is made up of three appointed financial experts, the state superintendent of schools and seven elected members − two retirees and five teachers.
Legislative leaders say they need more time to appoint a financial expert to the board − a seat that has been vacant for about six months.
But some lawmakers have already signaled interest in potentially changing the makeup of the teacher pension board.
