John Curry re: 06/07/2022 Toledo Blade editorial: Once again, Ohio's taxpayers are being ripped off

From John Curry

June 7, 2022

Thank you, Toledo Blade Editorial Staff, for this release. What the article doesn't say is that the company who did this audit, Funston, submitted the HIGHEST BID of 3 auditing companies and was awarded the bid by the Ohio Retirement Study Council. Funston’s bid ($775,000) was more than twice the price of its nearest competitor ($307,000) and ten times as great as the only other bidder ($75,000). 

This choice of Funston definitely has an odor to it. The Ohio STRS was paying for the results they wanted before the audit even began! Even though the Ohio Retirement Study Council "accepted the bid," Ohio Taxpayers AND teachers were paying for the highest bid. 

You see, the bill was paid by STRS and 14% of every teacher's wages is paid by school taxes to the retirement system....this is matched by an additional 14% paid by each teacher. Far too many of these dollars are going to Wall Street hedge funds whose amounts are kept from the public's view by classifying them as being "trade secrets" even though they are public moneys! 

Once again, Ohio's taxpayers are being ripped off.