State teachers’ retirement system set to award millions in bonuses to staff in losing year: Capitol Letter

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Rumbles from the rotunda

Crazy Money: The state’s retired teachers’ pension fund has lost money in the past year – $3 billion in May – although the fund’s board is expected to reward about 90 investment associates with bonuses. Retired teachers, who just received their first cost-of-living increase since 2017, are outraged. A spokesperson for the fund, however, said the incentives take into consideration the fund’s one- and five-year performance and board members compare the fund’s actual performance to a benchmark of other investments, which, even with the losses, the fund outperformed, Laura Hancock reports.

Process involved: Lieutenant Governor Jon Husted’s final response to reporters’ questions about his involvement with HB6 is that he “was not involved in the legislative process” of passing Bill 6 in 2019 but “encouraged throughout throughout this process – publicly, privately – for the bill to pass.As Jeremy Pelzer reports, Husted said in November that he had played no role in the legislative committee process for HB6, but after text messages between now fired FirstEnergy executives went public last week saying Husted had pushed for a bigger bailout of the HB6 nuclear plant, the Columbus Republican told a TV station he had acted on as an intermediary to share information as lawmakers debated the now scandal-ridden energy law.

A little help from DeWine’s friends: The campaign arm of the Republican Governors Association bought about $570,000 worth of attack ads targeting ex-Dayton mayor Nan Whaley, Governor Mike DeWine’s Democratic opponent in November. As Pelzer and Andrew Tobias report, the RGA — whose political action committee also spent more than $2 million to help DeWine win this spring’s GOP primary — accepted more than $1.4 million. in the first six months of this year only from donors who received a DeWine state nomination or received state contracts.

Cryptocurrency rules: The Ohio Board of Professional Conduct, a 28-member panel appointed by the Supreme Court of Ohio to handle complaints about judges and attorneys and make ethical recommendations to the judiciary, issued an advisory opinion on crypto- currency which specifies that lawyers must be technologically proficient to receive and hold it. It can be held in receivership if the lawyer meets the ethical obligations applicable to dealing with traditional forms of ownership, and lawyers must inform clients of any risks associated with the transaction, he said.

Candidate Verification: The Cuyahoga County Board of Elections is set to decide Monday whether to allow state Rep. Shayla Davis to run for the Nov. 8 ballot. As Tobias writes, Davis applied to run as a political independent for a heavily Democratic seat in the Cleveland area after missing the filing deadline to run as a Democrat. But a potential Republican opponent filed a lawsuit, saying Davis shouldn’t qualify, given his long past association with the Democratic Party.

Return the script: Republicans have criticized Democrats’ “defund the police” message as sweeping, but many GOP members are now calling on the government to defund federal law enforcement agencies, after Donald Trump’s residence was raided in Florida. Andrew Solender and Alayna Treene of Axios report that in Ohio, congressional candidate JR Majewski wants to abolish funding for the CIA. Some Republican consultants told Axios that they fear their parties’ candidates are sending mixed messages.

Courage of Conviction: An Ohio task force has recommended forming a new statewide commission to investigate claims of actual innocence made by those convicted. The task force, created last year by Ohio Supreme Court Chief Justice Maureen O’Connor, also recommended that prosecutors act when they see clear and compelling evidence that a person innocent was convicted, among other ideas, reports Laura Bischoff of the Dispatch.

Switch: Ashtabula and Geauga County Democrats, in a filing, said they are now backing Conneaut Public Library executive director Kathy Zappitello to run in Ohio House District 99 in the corner northeast of the state. The original Democratic nominee, Abby Kovacs, dropped out because her residence was dragged away from the district by a matter of feet. Zappitello will face incumbent state Rep. Sarah Fowler Arthur, a Republican from Ashtabula County, for the safe Republican district in the fall.

New neighbors: It’s been a year since the Taliban overtook Kabul and US troops and diplomats fleeing Afghanistan – with about 67,000 Afghans resettled in the United States, including 1,727 people in Ohio, according to state figures. Of those who settled in Ohio, about 75% of Afghans resettled in Columbus or Cleveland, Ohio Public Radio’s Jo Ingles reports. Many stay here for around two years and have to apply for asylum if they want their families to join them permanently.

Free College: About 35% of Ohio high school students have taken courses that have earned them high school and college credit through College Credit Plus, according to a new state audit, but not enough low-income students are getting college credits. credits. Ohio Auditor Keith Faber said enrollment would increase if more people learned about it through courses offered at local schools, compared to courses online or at local colleges, reports Anna Staver of the Dispatch.

Full disclosure

Five things we learned from Michele Reynolds’ May 15 financial disclosure. Reynolds is running for Ohio Senate District 3 as a Republican, challenging state Senator Tina Maharath, a Democrat from Canal Winchester in the Columbus area.

1. Her current employers are NISRE Inc., of which she is CEO and founder, and Madison Township.

2. She is the president of M2 Social Enterprises Corp. and Partner of Stanton Homes Inc.

3. Last year she had investments in Ohio deferred compensation, life insurance policies with Guardian and Grange, a 401(k) mutual fund with TransAmerica and a plan through the system of Ohio Public Employee Retirement.

4. Reynolds lives in Canal Winchester and has a home in Columbus.

5. She owed at least $1,000 last year to PHH Mortgage Services, FedLoan Servicing, First Commonwealth Bank, Specialized Loan Servicing and Associated Bank.

Moving

Darrel Rowland, president of the Ohio Legislative Correspondents Association, leaves the Columbus Dispatch, where he worked for 31 years.

Birthdays

Jason Parsons, CFO of Ohio House

State Representative Sharon Ray

Lauren Reid, Government Affairs Manager, Ohio Insurance Agents Association

Straight from the source

“If we win and I get the privilege, I want to be chairman of the Judiciary Committee and lead the investigations that need to be done. Access the truth. Defend your rights.

– U.S. Representative Jim Jordan, a Republican from Champaign County, speaking on “The Dana Show” podcast on Tuesday when host Dana Loesch asked if he would run for House leadership if Republicans win back the Room in November.

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