Ohio State Teachers' Retirement System, Columbus, will undergo a top-to-bottom performance audit. The Ohio Retirement Study Council, an independent group overseeing the state's five pension funds, later this month will search for an auditor. Laura Ecklar, system spokeswoman, said the $42.4 billion system supports the audit and will cooperate fully. STRS will pick up the tab, expected to be $300,000 to $400,000.
The audit will focus on the system's investment and spending practices, Ms. Ecklar said. Although the plan's finances are audited each year, she said, the system has never conducted an audit like the one the retirement study council has proposed.
