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Damschroder: Where's the auditor in teacher retirement issue? thenews-messenger.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews-messenger.com Daily Mail and Mail on Sunday newspapers.
Damschroder: Celebrating and litigating thenews-messenger.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews-messenger.com Daily Mail and Mail on Sunday newspapers.
Damschroder: Stand your ground to move pension policy John Damschroder The 100 percent loss of a $525 million direct investment in Panda Power by the State Teachers Retirement System is not the end of the story. Five STRS alternative investment funds; Ares Capital, Avenue Capital, GSO Capital, HIG Capital and Oaktree Capital, with a combined total of $1,140,969,501 from Ohio teachers retirement money also invested in the bankrupt merchant power generator Panda. STRS says, “to our knowledge none of the funds in which we are invested with these managers have exposure in Panda.” But because these funds have been given trade secret protection by STRS, the teachers’ pension has no knowledge of what has been purchased with their dollars. It’s the way Ohio’s pensions structure their alternative investments. ....
The State Teachers Retirement System of Ohio is getting three independent audits in 2021. Two audits come from the Ohio Retirement Study Council, which advises state lawmakers on all five public pension systems. The third audit, however, is sponsored by a group of retired teachers who say Ohio is mismanaging the pension fund while disseminating false and misleading information to stakeholders. The Ohio Retired Teachers Association raised $75,000 for a deep dive into the pension fund s management, Dean Dennis said. STRS is supposedly doing well but retirees haven t had a cost of living increase in years. It s time, Dennis said, to find out why. ....
Ohio retired teacher group pays for outside audit of STRS dispatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dispatch.com Daily Mail and Mail on Sunday newspapers.