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New Executive Director Takes Over Ohio Pension Fund—Can They Fix What’s Broken?

Steven C. Toole, a seasoned pension executive and Ohio native, takes over the $96 billion STRS Ohio amid deep financial challenges and widespread mistrust. With $20 billion in unfunded liabilities and suspended COLAs, Toole must steer the fund through investment reforms, governance overhaul, and benefit restoration. This article explores Toole’s background, the problems he inherits, and what’s next for over 500,000 Ohio educators relying on STRS for their retirement.