We'll discuss the controversy over the State Teachers Retirement System with billions of educators' retirement dollars on the line.
Listen to today's podcast on Sound of Ideas (Ideastream) at https://www.npr.org/podcasts/1088191215/sound-of-ideas.
The fighting continues over who will control Ohio's $94 billion teacher pension fund.
The fund is invested on behalf of roughly 500,000 former teachers and educators in the state and is managed by the State Teachers Retirement System or STRS. It is an independent entity, ran by a board of state appointees and elected members.
Self-called "reformers" on the board want to change how the fund is invested, pointing out big losses over the years, and calling out what they deem is mismanagement and a lack of transparency.
In the last several months, two board members vacated their seats, and two consultants have quit working with STRS.
Recently, Republican Attorney General Dave Yost sued to remove two of these reformers from the board, claiming they've breached their fiduciary duties.
Meanwhile, retired teachers and educators are watching this political battle unfold, unsure of how it's affecting their pensions. One of the most common questions some are asking is why they're no longer getting Cost of Living Adjustment or COLA increases, while STRS staffers are getting big bonuses.
On Tuesday's "Sound of Ideas," we're going to have a conversation about the controversy surrounding the teacher's pension fund and ask the questions are teacher's retirements being protected.
Guests:
Eric Chaffee, Law Professor, Case Western Reserve University
Karen Kasler, Statehouse News Bureau Chief, Ohio Public Radio/TV
Dan Mohar, Former principal and teacher, North Olmsted School District
STRS Ohio Board members Rudy Fichtenbaum and Wade Steen are incurring legal fees, defending themselves against the lawsuit brought against them by A.G. Dave Yost. ORTA will use donations from the Pension Defense Fund to help them, if needed, pay their legal expenses. They have volunteered their time to support Ohio's teachers. Now it's time for us to show our support for them! Make a donation today to the ORTA Pension Defense Fund
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