Editorial: Report finds STRS didn't check its math
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Cindy Murphy
Sep 12, 2021, 10:33:13 AM9/12/21
to STRS Ohio Watchdogs
Editorial: Report finds STRS didn’t check its math
Editorial Board
Toledo Blade
Toledo Blade
September 12, 2021
“Surprise, surprise, surprise,” as TV character Gomer Pyle used to say.
That’s the only possible response to the news that the state’s teachers pension fund trashed the findings of an independent review of how the fund handles, or truthfully, mishandles, the monies with which they are entrusted.
The review was conducted by Ted Siedle on behalf of the Ohio Retired Teacher’s Association. Needless to say the review found problems — some of them already well-documented. Mr. Siedle is a former attorney for the Securities and Exchange Commission.
It doesn’t take a study to figure out that losing half a billion dollars on one investment alone shows a level of incompetence that must have taken a great deal of effort to achieve.
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