(COLUMBUS, Ohio) — Ohio Attorney General Dave Yost has launched an investigation into concerns about the State Teachers Retirement System’s susceptibility to a hostile takeover by private interests.
“Pension board members are required by law to act in the best interest of the teachers whose money they invest,” Yost said. “I will take whatever action is necessary to protect teachers against private interests attempting to hijack their retirement accounts.”
Yost is actively exploring the applicable fiduciary removal statute (ORC 109.98) to address any potential breaches by members of the STRS board. The investigation is in line with Yost’s commitment to rooting out any public corruption and instances of greed and deceit within public institutions.
“This isn’t monopoly money; it’s hard-earned income that belongs to teachers,” Yost said. “There is a responsibility to act in their best interests.”
The Attorney General’s Office has received documents containing disturbing allegations related to the STRS board. In response, Yost will conduct a thorough and impartial investigation into these matters and will take any necessary actions to uphold the public’s trust and confidence of the public in our state institutions.