Originally Posted: Wednesday, September 03, 2008

August 2008 Monthly Board Report

ANNUAL CHANGE PERIOD FOR HEALTH CARE BEGINS OCTOBER 1
UnitedHealthcare, the administrator of the health care plan sponsored by the Ohio Police & Fire Pension Fund, will host 15 seminars throughout the state during the Annual Change Period in October. During the Annual Change Period eligible members may select their individual health care options for 2009. The seminars are designed to answer questions related to the health care plan and assist members in completing the Annual Change Period form.

The first seminar is in Athens on October 1, and the series will conclude on October 31 in Strongsville. A complete list of seminars is available under the health care link at www.op-f.org.

SEMINAR FOR MEMBER AGENTS PLANNED FOR SEPTEMBER 24
A training session will be held September 24, 2008 at 10 a.m. for member agents who are registered to assist OP&F members with the disability benefit application process. The training session will take place at OP&F, 140 E. Town Street, Columbus and is for registered OP&F Member Agents.

The training session agenda covers an overview of the disability process, including the Initial Determination Hearing, and the appeals and reconsideration processes.  The session will also cover new requirements in place for member agents.

PRE-RETIREMENT SEMINARS SCHEDULED
For OP&F members considering retirement, a series of six pre-retirement seminars are again scheduled this fall, beginning September 29, in Dayton. A list of all seminar dates, times and locations is listed on the OP&F Web site at www.op-f.org.

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 projects, including a request for information for an integrated financial management system, the off-site storage request for proposal, telephony servers, member and employer Web and the imaging project. The Internal Auditor presented reports concerning OP&F procurement cards, OP&F staff ethics training and the Work Group Study Process for the Financial and Compliance Division of the Member Services Department.
• DISABILITY: In addition to the scheduled disability hearings and reviews, the Disability Committee discussed the method for determining Whole Person Impairment Ratings and reviewed materials for the upcoming Member Agent Seminar.
• HEALTH CARE: The Committee/Board of Trustees reviewed the 2nd Quarter Health Care Stabilization Fund report and discussed the Annual Health Care Review of 2007. The Committee/Board was presented with the annual Medicare Part D Attestation and received an update from UnitedHealthcare. The Committee/Board also discussed ongoing issues with representatives from UnitedHealthcare, including the need for co-branding of mailings and the addition of information specific to OP&F members.
• BENEFITS: The Committee reviewed specific employer contribution issues and also discussed the city of Houston’s Post-Retirement Option Plan and requested additional information on similar plans.
• INVESTMENT: In addition to the monthly portfolio update, the Committee/Board of Trustees listened to a presentation from AQR Capital Management, reviewed the Manager Compliance report, the Semi-Annual Securities Lending Report and the Manager Contribution Report.
•  FINANCE:  The Committee reviewed and discussed the 2nd Quarter 2008 Budget-to-Actual Report and reviewed the status of past due employers.

Motions Approved
At its August 27, 2008 meeting, the OP&F Board of Trustees passed the following motions:

• Accepted the rating recommendations of staff for Bridgewater Global Macro Overlay Account, AQR GAA Alphaport 500 Fund II, L.P., Western Asset Management Enhanced Equity Portfolio and Causeway Capital Management as outlined in Investment staff’s memos to the Board dated August 26, 2008 (Investment Committee).
• Accepted the recommendation of staff to approve the Investment Manager Guidelines for FX Concepts Inc., in the form presented to the Board on August 26, 2008 and upon such terms favorable or protective to OP&F, as determined by the Executive Director (Investment Committee).
• Accepted the recommendation of the consultant and approved the updated 2008 Real Estate Investment Plan as presented to the Board on August 26, 2008 (Investment Committee).
• Approved the awards for the Initial Determination Hearings (IDH) for 16 members as identified in the IDH list presented to the Board on August 25, 2008. Member #16 is postponed for re-examination and disability benefits are denied for member #5 (Disability Committee).
• Approved the awards for the appeal hearings for the three members identified in the disability appeals list presented to the Board on August 26, 2008, made no change in the grant for the members identified as member #1, #4, #6 and #8, and member #3 is postponed for re-examination (Disability Committee).
• Announced the determinations for the Death Fund Benefit for applicants identified (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 August 26, 2008, in accordance with the Policy of Waiver of Earnings Statement and Medical Evaluations (Disability Committee).
• Adopted Administrative Rule 742-3-30, Agents Standard of Conduct, in the form presented to the Board on August 26, 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 Rules outlined in staff’s memorandum (742-1-01, Continuation of membership, and 742-3-11, Decision deadlines) dated August 25, 2008 with no change being made for the reason outlined in such memorandum and authorizes the required filing of these Rules with the proper agencies (Benefits Committee).
• Supported the proposed changes to Ohio House Bill 270 in the form presented with staff’s memorandum dated August 25, 2008 (Benefits Committee).
• Authorized the Chief Financial Officer to immediately certify past due balances due OP&F from the Village of North Randall, not to exceed $103,751.97 with the appropriate county auditor, as outlined in staff’s memorandum dated August 26, 2008 (Finance Committee).

Attachments

Last update: 9/5/2008