Some local teachers like Terry Caskey have growing concerns about the Ohio teachers' retirement system after learning STRS has 27.2 million invested in the now collapsed Silicon Valley Bank.
CLEVELAND — Some Northeast Ohio teachers like Terry Caskey have growing concerns about the health of the Ohio teachers' retirement system after learning STRS has $27.2 million invested in the now-collapsed Silicon Valley Bank.
STRS was the subject of a March 9 special audit report released by Ohio Auditor of State Keith Faber after teachers and retiree groups raised serious questions about the funds alleged lack of investment transparency and bonus structure. Faber made his report in front of the Ohio Retirement Study Council and its Chair, Sen. Kirk Schuring with Ohio's 29th District, which are to provide oversight into STRS practices.
STRS spokesperson Dan Minnich also responded to story concern the auditor's findings with the following statement: STRS also addressed its investments with the now failed Silicon Valley Bank with the following statement:
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