Investments and Financial News Update
STRS Ohio Investments Post Net Return of 7.55%
At the August Retirement Board meeting, STRS Ohio reported that the pension fund posted a net return of 7.55% for the year ended June 30, 2023. This translates into $2.4 billion more for the teachers of Ohio, even after payment of more than $7 billion in benefits. The pension fund ended fiscal year 2023 with $90.1 billion in investment assets.
As a mature pension system that pays out more in benefits than it receives in contributions, STRS Ohio relies on the performance of its investments as a key source for funding benefits. STRS Ohio’s investment consultant, Callan, shared that STRS Ohio’s total fund return outperformed its benchmarks and ranked in the top 10% of public funds tracked by Callan for the three-, five- and 10-year periods ending June 30, 2023.
Board Adopts Fiscal 2024 Budgets
The Retirement Board adopted the system’s operating and capital budgets for fiscal year 2024 (July 1, 2023–June 30, 2024). The approved operating budget totals $115.6 million, a 2.8% increase over the previous fiscal year. The approved capital budget totals $8.3 million.