Retirement Board Chair, Vice Chair Named
During its June meeting, the State Teachers Retirement Board elected retired teacher member Robert Stein as its vice chair for the coming year. According to Board Policies, Dale Price (Toledo Public Schools, Lucas County), who is currently serving as vice chair, automatically moves into the position of chair. Price and Stein will assume their new responsibilities on Sept. 1, 2013.
Retirement Board Accepts the Annual Investment Plan
The Retirement Board voted to accept the Investment Plan for fiscal year 2014 (July 1, 2013– June 30, 2014). The plan details staff’s investment strategy for each asset class in the system’s investment fund.
STRS Ohio staff expects only moderate growth in the capital markets during fiscal year 2014. With continuing concern about global financial stress, STRS Ohio will continue to monitor markets to assess risk levels. Investment associates expect the current low interest rate environment to continue into the next fiscal year. Staff will continue to implement asset allocation changes resulting from the 2012 asset-liability study.
Due to market volatility in June, staff will evaluate the need to issue an addendum to the annual Investment Plan once market levels are set on June 30, 2013. In early July 2013, the Fiscal 2014 Investment Plan will be posted on the STRS Ohio website. A copy of the plan can also be requested by calling STRS Ohio’s Member Services Center toll-free at 1-888-227-7877.
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