The Buckeye Betrayal: Unpacking the Unethical Handling of Ohio's Teacher Pensions

We knew back in 2021 that something was amiss with the Ohio State Teachers Retirement System. Unfortunately, the bad actors are contributors to Governor DeWine, Jon Husted, and to Jason Stephens.

In the heartland of America, where values like honesty, integrity, and hard work are meant to be the bedrock of society, a troubling story unfolds in Ohio. It's a tale that could come straight from a script of a gritty investigative show, but unfortunately, this isn't television—this is real life affecting real people.

Ohio’s teachers, those tireless warriors of wisdom, have been caught in a financial tug-of-war that threatens their future stability. Governor Mike DeWine, who's often been more of a spectator than a spearhead in this saga, appears to be waking up—but is it too little, too late? And the bigger question - was Governor DeWine too late on purpose because he benefitted?

In 2021, we called the next big political scandal that will dwarf the First Energy Scandal (currently, the largest in Ohio history) - would involve the OSTRS (Ohio State Teachers Retirement System.) The unethical and illegal behavior has continued unabated under the watchful eye and permission of the DeWine administration.

Lets move forward in time three years to today - when Governor Mike DeWine is not looking for re-election - after the OSTRS has lost billions due to poor performance decisions that made financial administrators and consultants of the fund rich beyond belief - the Governor has decided he should actually do his job.

The center of this storm is financial administration of the State OSTRS, a behemoth of a pension system that’s supposed to be the safety net for hundreds of thousands of Ohio's educators. With a whopping $94 billion on the line, the stakes couldn’t be higher. Yet, for years, the management of this fund has been less about safeguarding teacher retirements and more about questionable financial maneuvers (for kickbacks) that smell fishier than a Lake Erie perch dinner at summer’s end.

From 2017 to 2022, Ohio’s educators saw their cost-of-living adjustments freeze up like the Ohio River in January. No raises. No relief. All while living costs climbed faster than a buckeye tree. This happened as no other Ohio pension system tightened their belts quite so tightly. One has to wonder, why were teachers left out in the cold?

Enter Aon, an Irish consulting firm that recently dropped a bombshell by cutting ties over governance concerns—a move Governor DeWine rightly flags as a "red flag." When your consultant walks away, you’d better start asking hard questions about who’s steering the ship.

It's troubling to consider that this isn't just mismanagement. There's talk of a "hostile takeover" by private interests drooling over those billions. Governor DeWine has finally sent a cache of documents to the Ohio State Ethics Commission and Attorney General Dave Yost for investigation. It’s a step, but one that prompts a frustrating question: What took so long?

Meanwhile, the front lines are manned by retired educators and a handful of reform-minded board members. These folks aren’t just fighting for themselves; they're standing guard for every teacher who will ever rely on STRS. They're pushing back against a system that seems more interested in lining the pockets of Wall Street than in securing modest retirements.

Governor DeWine’s recent actions hint at a potential shift, perhaps an awakening to the plight of these public servants. But actions speak louder than words, and Ohio’s teachers need more than late-game revelations. They need champions at every level of government who will stand up, not stand by, as their futures hang in the balance.

It’s high time for Ohio’s leaders to remember that ethical governance is not just a requirement, but a duty. The teachers of Ohio deserve no less than a full, transparent, and aggressive examination of STRS, ensuring that this fund is managed with the same care and dedication that a majority of our unwoke teachers bring to the classroom every day.

As we peel back the layers of this sordid affair, let’s demand accountability, champion reform, and ensure that Ohio’s teachers receive the respect—and the retirement—they’ve rightfully earned. After all, if we fail the people who educate our children, what does that say about us? It's not just a pension that’s at stake here—it's our very principles.