Neville is OUT!

Ohio teachers' pension fund decides to cut ties with executive director

By Laura A. Bischoff

Columbus Dispatch

September 20, 2024

The State Teachers Retirement System of Ohio put its executive director, Bill Neville, on paid administrative leave in November following an anonymous letter accusing him of harassment. An investigation found the allegations baseless but the STRS board has kept Neville on leave.

The State Teachers Retirement System of Ohio board voted to part ways with Executive Director Bill Neville, who has been on paid leave since November.

The terms of the deal won't be released until the agreement is signed, according to STRS. The vote was unanimous except for one board member, Wade Steen, who abstained.

Neville's contract, which ends June 2027, pays him $318,270 a year. He's been on paid leave for the past 10 months.

A growing faction of the STRS board was unhappy with Neville and his team. In November, an anonymous letter surfaced, accusing Neville of harassment and bizarre behavior. An outside investigation determined the allegations to be unfounded, but the STRS board decided to keep Neville on leave.

The board's disgruntlement extends beyond Neville and to other top staff. On Friday, board members spent 25 minutes debating a no-confidence vote in the pension fund's senior staff and investment team. The vote tied 5-5.

Following the vote, interim Executive Director Lynn Hoover told the board members that the tone and message were demoralizing and threatening for staff. "We've got an incredible staff. Do we have improvements to make? Yes, we always do."

STRS Board Member Carol Correthers said the divisiveness runs the risk of driving employees out and making it more difficult to attract new hires.

The State Teachers Retirement System of Ohio, the state's second largest public pension fund, oversees about $90 billion invested on behalf of 500,000 teachers and retirees. Its 11-member board has been infighting over the direction and governance of the system.
STRS hired Neville more than 19 years ago, named him chief legal officer in 2018 and appointed him as executive director in July 2020.

STRS Ohio is governed by an 11-member board that includes appointees and elected members. The board oversees more than $90 billion invested for 500,000 teachers and retirees.

Activists have been mounting a board takeover, electing board members who are more sympathetic to their complaints about transparency, senior leadership, staff bonuses, and the suspension of the cost-of-living allowances for retirees. Some of the reformers had called for Neville to be ousted.

Laura Bischoff is a reporter for the USA TODAY Network Ohio Bureau, which serves the Columbus Dispatch, Cincinnati Enquirer, Akron Beacon Journal and 18 other affiliated news organizations across Ohio.

Read the article online here.