Legislative Oversight Of Ohio Pensions Fails Again, Controversial Consultant Hired For Long Overdue

August 27, 2021
Legislative Oversight Of Ohio Pensions Fails Again, Controversial Consultant Hired For Long Overdue Audit
By Edward Siedle, Contributor
Forbes

Once again demonstrating the Ohio Retirement Study Council’s apparent inability to provide intended legislative oversight of the five state pension systems in Ohio, the Council recently—following years of growing public outcry—finally commissioned a long-overdue fiduciary performance audit of the State Teachers Retirement System of Ohio. The last fiduciary audit of the pension in 2006, took an unimaginable two years to complete thanks to repeated sharing of draft versions of the auditor’s report as well as discussions with both pension and Council staff who provided written comments. Many of the most serious deficiencies noted in 2006 have not been addressed to this day.

Read Siedle's article online at https://www.forbes.com/sites/edwardsiedle/2021/08/27/legislative-oversight-of-ohio-pensions-fails-again-controversial-consultant-hired-for-long-overdue-audit