Nominating petitions, guidelines and other materials relating to the 2008 OP&F Trustee elections will be available beginning Feb. 4, 2008. Eligible members of three membership groups will each elect a representative to the OP&F Board � active firefighters, active police officers and retired police officers. Currently holding these positions are Chair of the Board of Trustees Lawrence Petrick (active fire, Shaker Heights), Ed Montgomery (active police, Columbus) and the Board�s Vice Chair, William Gallagher (retired police, Cleveland).

Members interested in running for a position on the Board should contact OP&F to receive a packet containing necessary materials and information outlining the duties and responsibilities of a trustee. Election materials are also available on the OP&F Web site at www.op-f.org.

Completed nominating petitions, a certificate of eligibility and the candidates photo must be received by OP&F no later than 4 p.m. on Monday, April 7, 2008. Ballots will be sent to eligible members on May 5, and must be returned by May 20. Results of all three elections will be announced on May 27, 2008.

Harrell elected by Board to serve as Chair Elect

Kathy Harrell (Cincinnati Police) was elected by the OP&F Board of Trustees to serve as Chair Elect at the Board�s January meeting. Harrell will complete the Chair Elect term vacated when Anthony Gorsek resigned from the Board in September 2007. Harrell, who was elected to a four-year term in May of 2007, will serve as Chair Elect until June 2008, at which time she will become the Board Chair.

OP&F Board attends trustee educational sessions in Columbus

Members of the OP&F Board of Trustees joined their peers from Ohio�s other five public retirement systems and visitors from other states on Jan. 28-29 at the Ohio Forum on Public Retirement in downtown Columbus. OP&F Trustees participated in the conference, which featured topics including fiduciary responsibilities, retirement system funding and specific investment strategies.

Board of Trustee Committee Notes: (Actions approved by the Board are listed separately)

� The OP&F Administration/Audit Committee received updates on several Information Services projects, including imaging and the outside security assessment. The Committee also was briefed on activities by the internal auditor, which included a calculations audit of the Member Services Department, a review of the imaging process in the Records/Imaging/Mail Services Division, and an external security access study of the Information Services Department.

� In addition to the scheduled disability hearings and reviews, the Disability Committee reviewed and discussed the Mandatory Disability Experience Report by Employer, the 4^th Quarter 2007 Disability Experience Report and the status of Annual Earnings Statments. The Committee also discussed providing formal training for member agents on the processing of disability applications.

� The OP&F Health Care Committee/Board of Trustees meeting focused on updates from UnitedHealthcare (UHC) and AARP representatives about enrollment for the 2008 retiree health care plan. The Committee/Board also discussed other concerns about health care enrollment and various other issues surrounding the transition to UHC.

� OP&F�s Benefits Committeee reviewed an analysis of the Mid-Career Seminar, which OP&F sponsored for the first time in November 2007, and discussed potential changes and improvements for future seminars.

� In addition to the monthly portfolio update, the OP&F Investment Committee/Board of Trustees listened to presentations on INVESCO�s core real estate fund and from EARNEST Partners. The Committee/Board also reviewed and discussed the Private Markets Report.

Motions Approved:

At its January 24, 2008 meeting, the OP&F Board of Trustees passed the following motions:

� Accepted staff and consultant recommendation to approve the Real Estate Strategic Plan for the real estate program, as presented to the Board on January 23, 2008 (Investment Committee).

� Accepted the rating recommendations of staff for Chicago Equity Partners, Columbia Management and MacKay Shields, as outlined in Investment Staff�s memorandums to the Board dated January 23, 2008, and approved the rating for EARNEST Partners as further discussed by the Board on January 23, 2008 (Investment Committee).

� Accepted staff and consultant recommendation to adopt the amended Ohio Police & Fire Pension Fund Broker Policy, as discussed by and further amended by the Board on January 23, 2008 (Investment Committee).

� Accepted staff�s recommendation to invest $15 million in the Northgate IV, L.P., upon the terms outlined in staff�s memorandum dated January 23, 2008, and such other terms favorable or protective to OP&F, as determined by the Executive Director (Investment Committee).

� Approved the awards for the Initial Determination Hearings (IDH) for 36 members identified on the IDH list presented to the Board on January 22, 2008. Member #37 is postponed further review and disability benefits are denied for members #22, #27, #35 and #39 (Disability Committee).

� Approved the awards for the Disability Appeal Hearings for the three members identified on the appeals list presented to the Board on January 23, 2008. No change was made for the member identified as member #2 and #3, and member #6 is postponed at the member�s request (Disability Committee).

� Approved the determination for reconsideration hearings for the members identified (Disability Committee).

� Approved the awards for the Death Benefit Fund Hearings for eligible applicants of the members identified (Disability Committee).

� Waived the mandatory medical evaluations and filing of annual earnings statements for future years for those disability recipients identified in the list presented to the Board on January 23, 2008 (Disability Committee).

� Waived the filing of future annual earnings statements and mandatory medical evaluations for those disability recipients identified in the list presented to the Board on January 23, 2008, and grants a limited waiver for those disability benefit recipients indentified in that list. Also, the Board postpones for reexamination those disability benefit recipients identified and terminates the disability benefits for those disability benefit recipients identified in the same list (Disability Committee).

� Approved the 2007 Employer Disability Experience Report in the form presented to the Board on January 23, 2008, and authorizes staff to forward the report to the appropriate public officials, in accordance with Section 742.381 of the Ohio Revised Code (Disability Committee).

� Approved the proposed changes to Administrative Rule 742-3-23, Spousal Consent/Designation of Multiple Beneficiaries, in the form outlined in staff�s memorandum dated January 22, 2008, and authorizes such other technical revisions to the rules as are deemed necessary and appropriate by OP&F�s General Counsel along with the required filing of the Rule with the proper agencies (Benefits Committee).

� Approved the travel recommendations of the Administration/Audit Committee as presented to the Board of Trustees on January 23, 2008 (Administration/Audit Committee).