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OP&F receives financial reporting award from Auditor of State
Auditor of State Mary Taylor�s office presented OP&F with an award for financial reporting following its fiscal year 2006 audit. Lawrence G. Petrick, Jr., Chair of the OP&F Board of Trustees, accepted the award during the Tuesday, April 29 Board meeting.
�The Ohio Police and Fire Pension Fund is truly dedicated to fiscal accountability. I commend Ohio Police and Fire Pension Fund officials for their hard work and encourage them to continue their commitment to efficient financial record keeping,� said Ohio Auditor of State Taylor. Certain criteria must be met to receive the �Making Your Tax Dollars Count� award. Standards include:
Fewer than five percent of all Ohio government agencies are eligible for the award.
Ballots in the mail for 2008 trustee elections
An actuarial analysis of OP&F�s Deferred Retirement Option Plan (DROP) has confirmed that the program has not had a negative financial impact on the system and in fact remains cost-neutral. The report examined DROP from its implementation on January 1, 2003 through January 1, 2007. Legislation creating DROP required that a report examining its financial impact be undertaken at least every five years. OP&F�s DROP was created through the adoption of Ohio House Bill 134 in 2002.
May Board meeting dates
Board of Trustee Committee Notes: (Actions approved by the Board are listed separately)