Money To Burn: The Ohio Teachers' Pension Fund

Number 20977
Subject Teachers
Source Copley Ohio Newspapers
State OH
Year 2003
Publication Date June: 12, 15, 24, 25, 26, 29 July: 13, 17, 26, 31 Aug: 9, 19 Sept 7 Oct: 2, 10, 12 Nov: 1, 9.
Summary Tipped off by a school superintendent and a former teacher, the Copley delves into the glaring incongruencies that highlight the State Teachers Retirement System of Ohio. The investigation reveals that though the system was losing $12.3 billion from its investment portfolio over a three-year period, its board and administrators spent $15 million on staff bonuses, artwork, parties, furniture storage, childcare, executive perks and travel. From the questionnaire, "they also boosted the system's annual budget by nearly $ 5 billion. Meanwhile, the health care costs of retirees skyrocketed and pension benefits declined".
Category Contest Entry
Pages 32
Keywords Herbert Dyer;Rep. Michelle G. Schneider
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