STRS Ohio & Silicon Valley Bank

[STRS Ohio Watchdogs]

March 16, 2023
Ohio State Teachers Retirement System had massive investment in failed bank

System already under scrutiny for huge bonuses after big losses

By Marty Schladen

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.

The losses follow a nearly $10 million loss last year when cryptocurrency platform FTX failed, according to the Ohio Retired Teachers Association, a group that represents pension system members.

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