Excerpt from the Dayton Daily News
The State Teachers Retirement System of Ohio has two new members, after a newcomer won an election on Friday and Ohio Gov. Mike DeWine appointed a new member to the board.
But the changes are controversial, with some STRS members accusing DeWine of illegally appointing a new member when he did not have the proper authority.
STRS is the board that oversees the teachers’ retirement system in Ohio. Teachers pay a percentage into the system and get money out of the system when they retire.
But retirees and current teachers have been organizing and pushing for changes. Last year, the Ohio Auditor of State published an audit finding no evidence of fraud or illegal acts, in response to a 2021 report commissioned by the Ohio Retired Teachers Association, titled, “The High Cost of Secrecy: Preliminary Findings of Forensic Investigation of State Teachers Retirement System of Ohio.”
The new elected board member, Pat Davidson, received 20,410 votes, while the current member on the board seat, Arthur Lard, received 8,853 votes. Davidson’s term begins Sept. 1. The board is made up of 11 trustees, with four appointed seats and seven elected by members.
DeWine’s new appointee is G. Brent Bishop, a business and real estate investor. He will replace Wade Steen, who has been calling for changes to the system. Bishop’s term extends through Sept. 27, 2024.
