ORTA Position on the Election of STRS Ohio Board Candidates and Pension Investments

​

The mission of ORTA is to monitor, advocate for, and protect the pensions and benefits of its members. The Association shall encourage individuals to improve the social and economic changes and issues relevant to their retirement.

 

ORTA will endorse STRS Ohio Board candidates who actively advocate for transparency of investments and business practices for the State Teachers Retirement System of Ohio Pension System. Transparency of Investment practices shall not conflict with Ohio Revised Code 3307.15. In particular, Section 3307.15. (e), states, “Any statement of financial position distributed by the board shall include the fair value, as of the statement date, of all investments held by the board under this section.”

 

ORTA believes that once elected, Board members serving as our fiduciaries should adopt a prudent investor approach and avoid investments where the investment’s fair value cannot be independently determined. ORTA supports Board members and STRS management in exploring investments and investment strategies that might bring additional revenues into the pension plan to restore, maintain, or enhance member benefits. ORTA encourages the Board to predetermine a reasonable dollar allocation while vetting such investments and investment strategies to avoid jeopardizing the fiscal integrity of the pension system.

 

Approved by ORTA Executive Council 5/21/2024