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Pension Board Investigation Launched by Ohio Attorney General

COLUMBUS, Ohio – An investigation has been launched by Ohio Attorney General Dave Yost regarding potential breaches of fiduciary duty by the state teacher’s pension board. Concerns have been raised about possible susceptibility to a hostile takeover by private interests, prompting Yost to consider actions that may result in the removal of board members. The State Teachers Retirement System, with assets totaling $94 billion, has faced turmoil for years. Recent developments saw a court ruling …

Governor DeWine Raises Red Flag Over Ohio Teachers Pension Board Turmoil

COLUMBUS, Ohio – Recent events surrounding the State Teachers Retirement System (STRS) board have raised concerns and prompted investigations by various authorities. Governor Mike DeWine has requested inquiries by the Ohio Ethics Commission, the attorney general, and the state auditor in response to ongoing turmoil within the board. The situation unfolded after board member Wade Steen, who was removed by DeWine last year, successfully reclaimed his seat through a court order. Compounding the issue, board …

Pension System Investigation: Gov. Mike DeWine Submits Documents to Authorities

COLUMBUS, Ohio – Governor Mike DeWine has taken a significant step in addressing concerns regarding the State Teachers Retirement System in Ohio by providing state investigators with a collection of documents that he believes may reveal potential misconduct. This move comes amidst a battle for control of the pension system, which recently saw DeWine involved in a court dispute over a board seat. The situation escalated when Aon, an Irish consulting firm with offices in …

Pension Fund Takeover Concerns Ohio Teachers Retirement System

Columbus, Ohio – The State Teachers Retirement System of Ohio is currently embroiled in a controversy, as a 14-page anonymous memo recently brought to light suggests the possibility of “a hostile takeover of a public pension by private interests.” Governor Mike DeWine has taken swift action by forwarding the memo and accompanying documents to various state agencies for further investigation and appropriate action. With $90 billion under its management for 500,000 teachers and retirees, STRS …

Market Volatility and Elections Pose Threat to Retirement Savings, Pension Warning Issued

London, UK – As global market volatility and upcoming elections create uncertainty in financial markets, experts are warning individuals to be cautious about their retirement savings. The fluctuating stock market and potential policy changes following elections could impact pension funds significantly. Financial advisors are urging individuals to review their pension plans and consider diversifying their investments to mitigate risks during this period of instability. Market analysts predict that the uncertainty surrounding geopolitical events and elections …

Guilty Greensburg Police Officer’s Pension in Limbo After Meth Distribution Admission

Greensburg, Pennsylvania – A retired city police officer, Regina McAtee, has recently pleaded guilty in federal court to engaging in a methamphetamine distribution operation, involving the disgraced former Greensburg police chief. McAtee, who served on the Greensburg force for over 19 years, received pension payments totaling at least $46,280 before admitting her involvement in the drug conspiracy. McAtee, 51, started receiving pension payments last year, with the first payment being $5,142 in August. The payments …

Bitcoin Pension Investments Surge Following ETF Approval: Fidelity Explores New Opportunities

New York, NY – Pension funds in various regions are showing increasing interest in exploring Bitcoin investments following the recent approval of Bitcoin exchange-traded funds (ETFs). Fidelity, a leading financial services company, has reported that pension funds are looking into diversifying their portfolios by incorporating digital assets like Bitcoin. The decision to include Bitcoin in investment strategies comes as traditional financial institutions seek to adapt to the changing landscape of the market. With the rise …

Social Security Advisory: Understanding the WEP and GPO Pension Provisions

Boston, MA – Navigating the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO) can be a daunting task for many individuals dealing with the complexities of Social Security rules. Understanding how these provisions work is crucial for anyone with a retirement pension from a government agency that did not participate in Social Security, as it can have significant impacts on their benefits. The WEP and GPO come into play when a retiree has …

Illinois Supreme Court Unanimously Upholds Consolidation of Police and Firefighter Pension Funds, Rejecting Dilution Arguments

SPRINGFIELD, Ill. — The Illinois Supreme Court recently ruled in favor of upholding a 2019 law that consolidated nearly 650 municipal police and firefighter pension funds, dismissing claims that the voting power of pension fund members was unconstitutionally diluted. The law, signed by Gov. JB Pritzker, brought together 649 individual pension funds into just two in order to streamline management and increase investment opportunities. This move was aimed at maximizing returns and reducing administrative costs …

Benefits and State Pension Payments Increase in April 2024: Find Out More Here

London, England – The UK Department for Work and Pensions (DWP) pays out various benefits on different schedules to support eligible individuals in need. Universal credit, a monthly payment from the DWP, offers financial assistance to those who qualify. Other benefits like attendance allowance, disability living allowance, and pension credit are paid every four weeks, ensuring a steady flow of support for recipients. Some benefits, such as carer’s allowance, tax credits, and child benefit, are …