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Ohio’s retired teachers might have gotten only one three percent cost-of-living increase since 2017, but the staff that’s managing their pension funds is requesting a 31-percent increase in its already big annual bonuses.
Meantime, it's not yet known whether retired teachers will receive a cost-of-living increase in a year of high inflation.
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Already under fire for high pay despite big investment losses, the pension system for Ohio's retired teachers lost between $27 million and $40 million when Silicon Valley Bank failed last weekend. That appears to be by far the biggest investment by a public pension system in the United States.
Already under fire for high pay despite big investment losses, the pension system for Ohio's retired teachers lost between $27 million and $40 million when Silicon Valley Bank failed last weekend. That appears to be by far the biggest investment by a public pension system in the United States.