Board of Trustees News

Board, Aon announce new plans for retiree health care marketplace

In an effort to improve choices in the health care marketplace, OP&F and its health care partner, Aon, have worked several months to secure CareSource and AultCare, in addition to the carriers already available to pre-65 OP&F retirees. These plans will be available to pre-65 retirees for the 2020 open enrollment period, which begins Nov. 1, 2019. The James Cancer Hospital and Nationwide Children’s Hospital, both in Columbus, participate in the CareSource network.

Starting in May, Aon will have representatives at OP&F headquarters to provide retirees assistance with their coverage, as well as help prepare for the 2020 enrollment period.

Deadline to enter trustee elections approaching

OP&F members who wish to run for one of three positions on the Board of Trustees must have the required nomination materials submitted by Monday, April 1. This year’s elections will select an active police, active fire and a retired fire representative to the Board for four year terms commencing in June. Completed petitions and certificates of eligibility are due to OP&F by 4 p.m. on Monday, April 1. Once certified, ballots will be prepared, mailed and counted by an independent election administrator with results announced in late May.

PORTFOLIO UPDATE

OP&F’s investment portfolio value:
Current value (3/19/19): $15.6 billion
End of February value:     $15.5 billion
End of January value: $15.3 billion

Board of Trustees Committee Notes
(Motions voted on by the Board are listed separately)

  • GOVERNMENT AFFAIRS AND POLICY: The Committee received information on the first Ohio Retirement Study Council meeting of the session and discussed possible legislation to make technical changes in OP&F’s disability panel. The Committee was also informed that staff from OP&F and the Department of Administrative Services met to discuss changes needed to the Death Benefit Fund.
  • DISABILITY: The Committee reviewed the 2018 experience report for the Helping Our Survivors through Transition (HOST) program in addition to the regularly scheduled hearings.
  • INVESTMENT: In addition to the monthly portfolio performance update, the Board received a presentation from Salient Partners on the midstream energy market and the MLP benchmark. The Board also was presented with the Semi-Annual Proxy Voting Report through Dec. 31, 2018.
  • HEALTH CARE: Representatives from Aon provided an update on the 2019 Health Care Transition and answered questions from trustees.


Motions:

At its March 2019 meeting, the OP&F Board of Trustees approved the following motions:

  • Approved staff’s and Wilshire’s recommended changes to the Investment Policy and Guidelines. Motion passed by vote of 6-1 (Investment Committee).
  • Approved staff’s and TorreyCove’s recommendation for a capital commitment of up to $20 million to TA XIII. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and TorreyCove’s recommendation for a capital commitment of up to $20 million to Advent International IX. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and Wilshire’s investment manager rating recommendations for Bridgewater Global Macro, Grosvenor Capital Management, Neuberger Berman and Russell’s portable alpha and policy implementation mandate. Motion passed by unanimous vote (Investment Committee).
  • Approved the Committee recommendations for the initial determination of disability for the members as identified in the initial determination hearings list presented to the Board on March 20, 2019. Motion passed by unanimous vote (Disability Committee).
  • Approved the Committee recommendations for appeal hearings for the members identified in the appeals list presented to the Board on March 20, 2019. Motion passed by unanimous vote, except for one no vote for Member #3 and one abstention for Member #2 (Disability Committee).
  • Approved the Committee recommendation for Death Fund benefits for the members identified. Motion passed by unanimous vote (Disability Committee).
  • Approved the Committee recommendation to waive mandatory medical evaluation and filing of annual earnings statements for future years for the members identified in the disability reporting waivers list presented to the Board on March 20, 2019. Motion passed by unanimous vote (Disability Committee).
  • Approved the Low-Income Stipend Increase Program changes effective for the 2019 plan year. Motion passed by unanimous vote (Health Care Committee).

    NEXT BOARD OF TRUSTEES MEETINGS: April 23-24, 2019

Posted 3/28/2019


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Monthly Board Report

Board of Trustee Elections

The 2019 Board Trustee elections have concluded. Please check the Board of Trustee Elections page in early 2020 for news on the next Trustees elections.

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Board Members and Committee Assignments

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