COLUMBUS, Ohio – A newspaper has found Ohio’s five public retirement systems spent more than $1 million on conference travel over a one-year period, while the economy continued to squeeze their pension investments.

The Columbus Dispatch reported in Wednesday’s editions that records obtained through a public records request showed at least one hotel stay costing more than $400 per night, and foreign trips by officials with the State Teachers Retirement System that cost more than $10,000.

The records do list other, cheaper hotel charges and low-cost meals for pension board members and employees while on the road.

The pension funds say attending conferences on investing, information technology and management is necessary for keeping up with volatile financial markets.