Board Report, January 2024

OP&F’s “Push to Paperless” results in efficiency of employer reporting

In June 2023, OP&F began a campaign to transition all employer partners to paperless reporting and payment of contributions due to the pension fund by the end of the year. While most OP&F employers were already submitting reports and payments electronically, a few are still in the process of completing the transition. We expect near 100 percent compliance in the near future.

By November 2023, 131 of the 139 employers who were identified had transitioned to paperless reporting and payment. By the end of 2023, the final two employers were scheduled to complete the process. OP&F appreciates the cooperation of our employers during this campaign. As of the end of January, OP&F anticipates no employer penalties for late reporting.

PORTFOLIO UPDATE

Board of Trustees Committee Notes

(Motions voted on by the Board are listed separately)

DISABILITY: The Committee conducted its scheduled reviews and appeal hearings.

INVESTMENT: In addition to a review and discussion of the investment portfolio, the Townsend Group presented the performance and portfolio review for the real estate and real assets asset classes for the 3rd quarter of 2023.

Motions:

At its January 2023 meeting, the OP&F Board of Trustees approved the following motions:

• Approved 14 Initial Determinations of Disability.
• Approved six appeal hearings.
• Approved six Death Benefit Fund applications.
• Approved the Disability Reporting Waivers list.

NEXT BOARD OF TRUSTEES MEETINGS: March 5-6, 2024