Ohio teachers’ pension fund chief gets $1.65 million to leave • Ohio Capital Journal

The former executive director of an Ohio teachers’ pension fund was paid more than $1.65 million to leave his position.

William “Bill” Neville will no longer work for the State Teachers Retirement System (STRS) as of Dec. 1, 2024. His departure comes after a nearly unanimous vote Friday when the STRS board opted to enter into a termination agreement.

Only board member Wade Steen, whose term ended Friday, abstained from voting.

Neville had been on paid leave for nearly a year while a law firm appointed by Attorney General Dave Yost investigated allegations of outbursts of violence and use of sexual language.

In February last year, a law firm said many of the claims were unfounded. However, the lawyers said the man had raised his voice in the past.

We reached a mutual agreement regarding his salary and benefits, which included:

• The first lump sum payment is currently $265,312.50
• Second lump sum payment in 2025 of $256,312.50
• Accrued and unused vacation time of $173,426
• $149,949 in accrued and unused sick pay
• Medical, dental and vision insurance, plus $54,000 in Cobra premiums

He also receives two years of credit through the Ohio Public Employees Retirement System (OPERS), worth $760,000. This is not awarded directly to him, but to OPERS. He can reclaim it from OPERS. If STRS fails to do so, the contract is void.

If he recovers all his money, he will release every person associated with STRS from liability, allegations and claims.

A joint statement from the board and Neville said: “STRS Ohio Executive Director William Neville has announced his plans to retire effective December 1, 2024. In a letter to the STRS Board, Neville stated, “It has been an honor to be a part of the STRS Ohio team for the past 20 years. I am continually inspired by the deep dedication of my fellow staff members to our members and retired teachers who have provided invaluable service to the students of this great state. I wish STRS Ohio and Ohio’s public educators every success in all their future endeavors.” The STRS Ohio Board of Directors would like to thank Bill for his 20 years of dedicated service to Ohio’s educators and greatly appreciates the extraordinary leadership he has provided to STRS and all of its members.”

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This article was originally published on News5Cleveland.com and is republished by the Ohio Capital Journal under a content-sharing agreement. Unlike other OCJ articles, it is not available for free republication by other news outlets because it is owned by WEWS in Cleveland.