COLUMBUS, Ohio — The former executive director of the Ohio retired teachers' pension fund has received more than $1.65 million to leave the position.
William "Bill" Neville will no longer be working with the State Teachers Retirement System (STRS) effective Dec. 1, 2024. His departure comes after a near-unanimous vote on Friday when the STRS board chose to move forward with an end-of-employment agreement.
Only board member Wade Steen, whose term ended Friday, abstained.
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In an exclusive interview airing on News 5 Thursday, acting Executive Director Lynn Hoover will discuss the chaos that has been occurring at STRS for months.
Neville had been on paid leave for nearly a year while a law firm appointed by Attorney General Dave Yost investigated allegations of violent outbursts and sexually explicit language.
Last February, the law firm found that many of the claims were unsubstantiated; however, he did have a record of raising his voice, according to the firm.
I obtained the mutual agreement that went over his compensation and benefits, which included:
- The first lump sum payment now of $265,312.50
- A second lump sum payment in 2025 of $256,312.50
- Accrued and unused vacation time payment of $173,426
- Accrued and unused sick time payment of $149,949
- Medical, dental and vision insurance coverage as well as Cobra premiums payment of $54,000
He also gets two years of service credit through the Ohio Public Employees Retirement System (OPERS), valued at $760,000. This one isn't directly made to him but to OPERS. He can retrieve it from OPERS. If STRS doesn't do this, the contract is null and void.
If he gets all of his money, he releases and discharges anyone affiliated with STRS from liability, charges, or claims.
A joint statement from the board and Neville said: "STRS Ohio's 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 my privilege to be part of the STRS Ohio team for the last 20 years. I have been continuously inspired by my fellow associates' profound dedication to our members and retiree teachers who have provided invaluable services to the students in this great state. I wish STRS Ohio and Ohio's public educators nothing but success in all future endeavors.' The STRS Ohio Board wants to thank Bill for his 20 years of dedicated service to Ohio's teachers and greatly appreciates the extraordinary leadership he provided to STRS and all of its members."
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