Ohio STRS Names Steven Toole Executive Director Overseeing $95B Pension

Steven C. Toole has been appointed as the new executive director of STRS Ohio, starting July 14, succeeding interim executive director Aaron Hood. Toole brings extensive experience from his previous role as executive director of the North Carolina Retirement Systems from 2011 to 2019, where he managed a $127 billion pension system for nearly one million public employees. He also has a background in the private financial services sector, including senior roles at Nationwide and Principal Financial Group. STRS Ohio oversees approximately $95 billion in investments on behalf of over 530,000 teachers, retirees, and inactive members. The pension system has faced recent challenges including leadership upheavals, staff departures, lawsuits, and an ethics investigation, with efforts underway to improve transparency and governance. Toole expressed enthusiasm for joining STRS and working on critical pension issues, with the board confident his leadership will advance the system's mission.