Ohio's STRS faces crisis with allegations of corruption and fund mismanagement involving board members, Attorney General, and investment firm QED.
Ohio's State Teachers Retirement System (STRS) faces a crisis amid allegations of corruption and fund mismanagement. Attorney General Dave Yost has filed a lawsuit to remove board members Rudy Fichtenbaum and Wade Steen, accusing them of colluding with investment firm QED to manipulate contracts. The scandal has sparked division within STRS, with "reformers" advocating for index funds and cost-of-living adjustments for retirees, while "status quo" members support active management.
September 02, 2024
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