Overhaul of OP&F systems completed

OP&F members now able to view account information online  

A new feature on the OP&F Web site now allows members to securely view their account information online. The system requires a username and password and the site includes directions on how to register for the service. A link in the upper left corner of the OP&F home page (www.op-f.org) will take members to the new site.

Employer training seminars conclude

OP&F has concluded a series of employer training seminars held throughout the state this month. Representatives from 112 employers attended sessions that were held in Cleveland, Cincinnati, Dayton Toledo and Columbus during July. The focus of the training was payroll reporting, penalties, electronic reporting options and important deadlines for employers.

November Board meeting date changed

The Board of Trustees meeting originally scheduled for Wednesday, November 26 at 9 a.m. has been rescheduled for Tuesday afternoon November 25 following the disability appeals hearings (at approximately 3:30 p.m.)

Board of Trustee Committee Notes

(Actions approved by the Board are listed separately)

• ADMINISTRATION/AUDIT: The Committee received reports on several projects, including the off-site storage request for proposal, telephony and postage services, imaging and software implementation. The Internal Auditor presented the 2008-09 audit schedule, the Board Governance Policy and the Committee�s 2008-09 agenda for review. The Committee also reviewed a memo concerning OP&F�s travel policy in comparison with other Ohio retirement systems.
• DISABILITY: In addition to the scheduled disability hearings and reviews, the Disability Committee discussed the First Half 2008 Disability Exam Satisfaction Survey, reviewed the 2nd Quarter Disability Experience Report, the report of medical evaluations and earnings statements and reviewed the 2008-09 Committee schedule.
• HEALTH CARE: The Committee/Board of Trustees reviewed and discussed a presentation from Buck Consultants on the proposed 2009 health care rates. The Committee also reviewed its 2008-09 schedule and discussed mailings from AARP received by members that were not co-branded with OP&F.
• BENEFITS: The Committee reviewed the Committee�s 2008-09 schedule and heard a report on the conclusion of the Service Credit Audit project.
• INVESTMENT: In addition to the monthly portfolio update, the Committee/Board of Trustees discussed the ongoing Asset Liability Study and, as a result, adopted a new long-term asset allocation policy.  The Board also discussed the Private Markets Report and reviewed the 2008-09 Committee schedule.
•  FINANCE:  The Committee reviewed its 2008-09 schedule and an addition to its committee charter.

Motions Approved

At its July 29, 2008 meeting, the OP&F Board of Trustees passed the following motions:

• Adopted the long-term asset allocation policy described as �Revised Alternative G� in Wilshire Associates� presentation to the Board dated July 29, 2008 (Investment Committee).
• Accepted Townsend�s recommendation to invest $25 million in Westbrook Real Estate Fund VIII, upon the terms outlined in Townsend�s memo dated July 29, 2008 and such other terms that are favorable or protective to OP&F, as determined by the Executive Director (Investment Committee).
• Accepted the rating recommendations of staff for MacKay Shields, Chicago Equity, Columbia Management and Earnest Partners, as outlined in Investment staff�s memos to the Board dated July 29, 2008 (Investment Committee).
• Approved investment in the market neutral investment structures offered by Grosvenor Capital Management, LP and N.A. Investcorp LLC, each in the amount of 1.5% of the total portfolio on the trade date as outlined in the memo dated July 30, 2008 and upon such terms and conditions acceptable to the Executive Director (Investment Committee).
• Approved the awards for the Initial Determination Hearings (IDH) for 22 members as identified in the IDH list presented to the Board on July 29, 2008. Member #14 is postponed for re-examination and disability benefits are denied for member #7, #11 and #18 (Disability Committee).
• Approved the awards for the appeal hearings for the five members identified in the disability appeals list presented to the Board on July 29, 2008, made no change in the grant for the members identified as member #5 and #8, and member #3 is postponed at the member�s request (Disability Committee).
• Approved the determination for reconsideration hearings for the members identified (Disability Committee).
• Announced the determinations for the Death Fund Benefit for applicants identified (Disability Committee).
• Approved the revisions to the Disability Evaluation Panel Procedures Manual in the form presented to the Committee on July 28, 2008 based on the recommendations of the DEP physicians (Disability Committee).
• Approved the Findings of Fact in the form presented with staff�s memorandum dated July 28, 2008 (Disability Committee).
• Approved the changes to Administrative Rule 742-3-10, Annual medical evaluations, termination of benefits and appeal of terminations, in the form presented to the Board on July 29, 2008 and authorizes such other technical revisions to the Rule as are deemed necessary and appropriate by OP&F�s General Counsel and authorizes the required filing of the Rule with the proper agencies (Disability Committee).
• Approved the changes to Administrative Rule 742-3-05, Disability Benefits Procedure, in the form presented to the Board on July 29, 2008 and authorizes such other technical revisions to the Rule as are deemed necessary and appropriate by OP&F�s General Counsel and authorizes the required filing of the Rule with the proper agencies (Disability Committee).
• Waived the mandatory medical evaluation and filing of annual earnings statements for future years for those members identified in the disability reporting waivers list presented to the Board on July 29, 2008, and terminates the disability benefits for those disability benefit recipients identified in the list presented to the Board on July 29, 2008 (Disability Committee).
• Approved the 2009 Discount Program and Rates in the form presented to the Health Care Committee/Board on July 29, 2008, in accordance with Section 742-7-12 of the Ohio Administrative Code, and authorizes staff to forward the program and rates to United Healthcare for administration in accordance with the administrative services agreement currently in place (Health Care Committee/Board).
• Approved the 2009 rates for dental, vision, prescription drug and medical coverage, all in the form presented to the Board on July 28, 2008 (Health Care Committee/Board).
• Approved the Administration/Audit Committee�s travel recommendations as presented and discussed on July 29, 2008 (Administration/Audit Committee).
• Approved the Administration/Audit, Benefits, Disability, Health Care, Finance and Investment Committee charters as presented to the Board on July 29, 2008.

Attachments

• Comments from Chief Investment Officer