June Board News


STRS Ohio Investment Returns Rank Near the Top

Retirement Board investment consultant Callan LLC shared the results of its quarterly report on the performance of STRS Ohio’s investments compared to the board’s investment policy benchmark and peer pension funds. As of March 31, Callan reports that:

  • STRS Ohio’s investment returns ranked in the top 5% of the public funds that Callan monitors over the five-, seven- and 10-year periods and at or near the top 25% for the one- and three-year periods.
  • STRS Ohio returns were higher than the board’s investment policy benchmark over each of these periods.
  • Over the past five years, STRS Ohio achieved top 5% returns among public funds monitored by Callan, while maintaining lower average risk than its peers.

Board Adopts Fiscal 2024 Budgets

The Retirement Board voted to adopt 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 current fiscal year. The approved capital budget totals $8.3 million. STRS Ohio staff shared these budgets with the Ohio Retirement Study Council at its May meeting.

Board Adopts Investment Plan

STRS Ohio investment staff presented its Fiscal 2024 Investment Plan to the board. The plan details the investment strategy for each asset class in the system’s portfolio. The board’s investment consultants, Callan LLC and Cliffwater LLC, expressed their support for the plan. STRS Ohio will post the plan on its website in early July.

Board Names Chair, Vice Chair

According to board policy, Dale Price (Toledo Public Schools, Lucas County), who is currently serving as the board vice chair, automatically moves into the position of chair on Sept. 1, 2023. The Retirement Board elected contributing member Carol Correthers (Lorain City Schools, Lorain County) as its vice chair effective Sept. 1. Board members receive no compensation for serving on the board other than reimbursement for expenses.

Retirements Approved

The Retirement Board approved 626 active members and 73 inactive members for service retirement benefits.