Open Records Experts Say Ohio Magistrate's decision provides inspiration and impetus to advocates for public pension transparency across the country, including Kentucky and Minnesota.
By Ted Siedle August 7, 2024
Open Records experts are applauding the recent decision of an Ohio Magistrate requiring the $90 billion-plus State Teachers Retirement System of Ohio to publicly release records regarding its highly-secretive private equity and other “alternative” investments. Across the nation Wall Street private equity firms have successfully evaded public scrutiny for nearly two decades, even as they garner lavish fees from managing the retirement savings of state workers. The Ohio Magistrate’s decision is the first to challenge private equity secrecy schemes and restore transparency at public pensions. STRS Ohio has been fighting the public record request for the past three years.
So, is STRS Ohio ready to comply with the Magistrate’s order and disclose the heretofore “top secret” private equity investment documents to the public?
Yesterday, outside counsel for STRS Ohio filed a motion for an extension of time to file objections to the Magistrate’s decision. Did the reform board know about and authorize this filing?
Seems the fight for full transparency at this state pension is far from over.
Read Ted Siedle's full report: https://pensionwarriorsdwardsiedle.substack.com/p/minnesota-and-kentucky-open-government