COLUMBUS, Ohio (WCMH) -- Monday kicks off a trial investigating state allegations of misconduct among the pension board that covers 500,000 active and retired Ohio teachers.

The lawsuit was filed in May 2024 after Ohio Attorney General Dave Yost released concerns from an anonymous 14-page letter accusing two State Teachers Retirement System board members of acting without the best interests of educators in mind. Board President Rudy Fichtenbaum and former board member Wade Steen are accused of attempting a hostile takeover of the pension's funds.

The anonymous letter alleged Fichtenbaum and Steen had improperly schemed to steer money from the $90 billion pension fund to an investment firm known as QED. Steen's lawyer, Norman Abood, said his clients never denied discussions with QED inves

See Full Page