Still, Neville remained on leave until the most recent board meeting, where the board agreed to officially end his employment on Dec. 1. The agreement was signed Monday.
Neville began as executive director in July 2020. Since Neville was placed on leave, chief financial officer Lynn Hoover has been serving as acting executive director.
Neville has been employed by STRS for almost 20 years, holding positions of general counsel and executive director.
In 2017, the state stopped cost-of-living increases for STRS retirees, following a pension reform law in 2012 that required public employees to work longer for fewer benefits. In 2022, a one-time cost-of-living adjustment was made of 3%, but retirees still say it is not where they want it to be.
Many of the Ohio Retired Teachers Association members, retired teachers who want more accountability for STRS, opposed Neville.
STRS’s turmoil has not been limited to its director. In May, Ohio Attorney General Dave Yost filed a lawsuit seeking to remove two members of the STRS board, Wade Steen and Rudy Fichtenbaum, a former Wright State University economics professor.
Yost accused Steen and Fichtenbaum of breaching their fiduciary duties, which both have denied. The case is ongoing in Franklin County Court of Common Pleas.
STRS Ohio oversees about $90 billion in pension funds for about 530,000 retired school employees. The 11-member governing board is elected by teachers and retirees.
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