STRS Ohio has not had an audit in over a decade.  STRS contracts with an outside firm named Clifton Larson Allen (CLA), thus they become a paid client of STRS. CLA then only "verifies" if the numbers, provided by STRS, are "accurate."  So one can see, there is no auditing on the $80 billion dollars being used for investments. These monies  were provided to STRS Ohio by active teachers contributions, retired teachers contributions and employer (public) contributions.  This is unacceptable.  What can be done?

The Ohio STRS Members Only Forum, STRS Ohio Watchdogs and the Ohio Retired Teachers Association (ORTA) have teamed to hold STRS accountable.  ORTA has set up an account to raise monies for a Forensic Audit of STRS.  You can help by clicking this link https://www.orta.org/donations and donating $20 (active teachers and members of the public please scroll down to the bottom of the page when you click the link).  So who will conduct the audit?

One of the top, if not the top, Forensic Auditors in the United States, Edward 'Ted' Siedle has agreed to perform this audit for $75,000, monies we need to raise.  Edward Siedle is the principal of Benchmark Financial Services and author of Who Stole My Pension. He is also a former U.S. Securities and Exchange Commission attorney and globally recognized as one of the top experts in pensions. His firm, Benchmark Financial Services, Inc., has conducted well over $1 trillion in reviews of pensions on behalf of pension plan sponsors and pension participants.

Forensic audits look for many things including mismanagement of funds, conflicts of interests, misappropriations of assets, and financial statement fraud. Edward Siedle's audit of STRS Ohio will take many months and will produce an understandable nearly 100 page report stating the problems he sees with how STRS is conducting business. Hopefully this will put STRS on a path that will benefit retirees, active teachers and the public.  Thank you if you decide to contribute.