Teachers oppose bonus pay for Ohio pension investment managers

The State Teachers Retirement System of Ohio serves nearly 493,000 active, inactive and retired Ohio public educators. STRS Ohio is one of the largest public pension funds in the country. (Columbus Dispatch photo by Doral Chenoweth III)
Photo taken Dec. 26, 2018.

A group of retirees is asking the State Teachers Retirement System of Ohio to reject a plan to pay $9.66 million in performance bonuses to investment staff.

“In the face of the worst inflation in 40 years, there’s nothing more tone deaf and wrong than STRS paying nearly $10 million in bonuses as a reward for losing $3 billion last year. The STRS board should vote no on these bonuses,” said Ohio Retired Teachers Association Director Robin Rayfield in a written statement.

The state’s second largest public pension system is expected to consider the bonus pay at its meeting Thursday.

STRS spokesman Nick Treneff said bonus pay is part of a compensation package that helps the pension fund attract and retain talent. Performance bonuses are paid to about 100 employees who manage STRS’ investments.

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