COLUMBUS, Ohio — The Ohio Attorney General’s Office has placed the director of the State Teachers Retirement System of Ohio (STRS) on administrative leave as part of an ongoing investigation into alleged “misconduct,” Attorney General Dave Yost revealed in a statement released on Friday.
Yost expressed concern over the troubling nature of the allegations against STRS Director Bill Neville, stating, “Half-a-million teachers and retirees rely upon the fiducial trust of STRS, which compounds my concern.” To ensure an impartial examination of the accusations, Yost appointed external legal counsel to conduct a comprehensive, independent investigation.
While the specific details of the allegations against Neville were not disclosed by Yost, WCMH Channel 4 reported that the claims involve instances of sexual harassment, verbal abuse, and threats of violence against staff. The allegations were reportedly brought to light through an anonymous letter sent to both the Ohio Ethics Commission and the Attorney General’s Office.
In response to the investigation, the board for STRS voted on Friday to place Neville on administrative leave, as reported by WCMH. During Neville’s absence, Lynn Hoover, the Chief Financial Officer of STRS, will serve as the interim director.
According to information from the STRS website, the system manages nearly $90 billion in assets and serves approximately 500,000 active, inactive, and retired Ohio public educators. The Columbus Dispatch reported that STRS ranks as the fifth-largest teacher pension system in the nation.
Earlier this year, STRS faced criticism from retired teachers after it was revealed that the organization was contemplating awarding $11.1 million in bonuses to its investment staff. This revelation raised concerns among retirees awaiting a decision on a cost-of-living adjustment. In May, the STRS board ultimately approved a 1% cost-of-living increase for recipients.