Excerpt from the Ohio Capital Journal
The acting executive director of the Ohio retired teachers’ pension fund and their chief investment officer have resigned after months of controversy.
The day after an exclusive 45-minute interview with Capital Journal news partner WEWS, State Teachers Retirement System (STRS) Acting Executive Director Lynn Hoover has resigned effective Dec. 1. Chief Investment Officer Matt Worley has also resigned effective March 31.
Both letters to the STRS board came Wednesday evening. Despite requesting to hold off on sharing the information until Friday, the details were leaked to us Thursday morning.
We reached out to STRS, and their spokesperson confirmed. We are awaiting responses questions and records requests.
These resignations come as STRS has been in steeped in chaos. In summary, there has been constant fighting, two board resignations and allegations of both a public corruption scheme and mishandling of funds. As of this week, there has been a dismissal and two senior staff resignations.
Hoover had been the head and chief financial officer since November 2023 after predecessor Bill Neville was put on paid leave while a law firm appointed by Attorney General Dave Yost investigated allegations of violent outbursts and sexually explicit language. Neville was just given $1.65 million to part ways with STRS.
