Ohio pension chief’s exit deal revealed

The State Teachers Retirement System of Ohio (STRS) board has approved a substantial exit package for its executive director, Bill Neville, totalling $1.65m. This includes $512,265 in lump sum payments and $323,375 for accrued time off, alongside the purchase of two years of service credit valued at $760,000. The decision follows a period of discontent within the board, exacerbated by allegations of harassment against Neville, which were ultimately deemed unfounded. In a statement, Neville expressed his gratitude, stating, “It has been my honour and privilege to serve the teachers of Ohio.” The STRS board, overseeing over $90bn for 500,000 educators and retirees, has faced increasing pressure from activists advocating for greater transparency and reform.