Head of Ohio’s teacher pension fund retires Sunday, saying fund is strong despite staff vacancies

Associated Press

COLUMBUS, Ohio (AP) — The outgoing head of Ohio’s troubled teacher retirement system said she’s leaving the fund in strong fiscal condition despite turmoil at the top that her successor will inherit. Lynn Hoover retires as acting executive director and CFO of the $94 billion State Teachers Retirement System of Ohio said Sunday. She said the 545,000-member fund’s returns remain within the top 10% of peer funds around the country. But Hoover said new interim director Aaron Hood will have to help the board lead a nationwide search for a new permanent director and hire a new chief financial officer, chief investment officer and head of internal audit.