The bonuses were given in August to dozens of STRS investors even though, at that time, the retirement system was reporting annual losses of more than $3 billion.
Supporters of the bonuses argued the investment staff outperformed benchmarks by the board. It was later learned that STRS actually lost more than $5 billion last year.
Board member Steven Foreman said Wednesday that Ohio’s active and retired teachers deserve better management of their retirement funds, and he wants the board to “claw back” the bonuses.
“Do I think the members of the board are all going to change their mind?” Foreman said. “I don’t know. What I do know is we owe it to our educators of Ohio, I owe it to my membership, to try. At least ask.”
Foreman said he will make the proposal for a return of the bonuses at the board meeting Thursday. Some staff members were awarded bonuses of more than $250,000.