Reformers in Ohio are pushing for changes in the state’s retirement system for teachers, advocating for a shift to index funding and the reinstatement of cost-of-living adjustments. Recent elections have given these reform-minded individuals a majority on the board, leading to conflict with those who support the status quo of actively managing the funds.
The Attorney General, Dave Yost, has filed a lawsuit and issued subpoenas against a company called QED and others allegedly involved in steering public contracts. This move has been met with resistance from QED and accused board members, who believe the investigation is a sham.
Reformers, like retired teacher Robin Rayfield, argue that the investigation is politically motivated and an attempt to undermine the democratically-elected majority on the board. On the other hand, Yost and Governor DeWine’s office maintain that their primary concern is protecting the retirement savings of teachers and ensuring transparency in the investment process.
Despite the ongoing legal battle, Yost emphasizes that the goal is to safeguard the interests of retirees and hold those in charge of managing the pension fund accountable. While the investigation is still in its early stages, Yost and his team are committed to uncovering the truth and ensuring the retirement security of Ohio teachers.
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