NBC News: Here's what happened when private equity, hedge fund firms invested pension cash for Ohio

Here's what happened when private equity, hedge fund firms invested pension cash for Ohio teachers

By Gretchen Morgenson
NBC News
Wed, June 9, 2021, 3:00 AM

For more than 30 years, Dean Dennis and his wife, Patty, worked in the Cincinnati school system, paying into their pensions so they wouldn't have to worry about retirement. "We managed our money well. We had our plans for our future," Dennis said.
But the Dennis family's plans and those of thousands of other former educators and school system workers in Ohio have been upended. In 2017, the State Teachers Retirement System of Ohio, or STRS, pension plan eliminated an annual cost-of-living increase. Since then, recipients have had no increase in payments while prices have risen by 8 percent.

Read the article online at https://news.yahoo.com/heres-happened-private-equity-hedge-100050248.html