Board of Trustees News

Trustee election results announced

OP&F membership elected three trustees to new four year terms which will commence June 3. The newly-elected trustees are Robert E. Britt, II (Toledo Police) representing active police officers; Stephen A. Corvi (Columbus Fire) representing active firefighters; and Marco J. Miller (Columbus Fire) representing retired firefighters.

The OP&F Board of Trustees consists of nine members. Six are either active or retired members and elected to four-year terms by their membership groups (two active police officers, two active firefighters, one retired police officer and one retired firefighter). The Board also includes three statutory members. Each statutory member – one appointed by the Governor of Ohio, one by the Ohio Treasurer of State and one appointed jointly by the Ohio Senate President and the Ohio Speaker of the House – must have professional investment expertise.

PORTFOLIO UPDATE

OP&F’s investment portfolio value:
Current value (5/21/19): $15.6 billion
End of April value:     $15.8 billion
End of March value: $15.6 billion

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

  • DISABILITY: The Committee reviewed statistics provided by staff on initial determination hearings and grants accepted for the past 17 years.
  • INVESTMENT: In addition to the monthly portfolio performance update, the Board received an educational presentation by TorreyCove, its private markets consultant, on co-investing strategies, its advantages and challenges. The Board also received the Investment Performance Report for periods ended March 31, 2019 and the Real Assets Performance and Portfolio Review for the periods ended Dec. 31, 2018. The 2018 Manager Fee Report was also provided.
  • FINANCE: The Committee received the 1st Quarter 2019 Budget-to-Actual Report and reviewed the list of past-due employers.
  • HEALTH CARE: Representatives from Aon provided general updates and information about the final group of retirees transitioning off the group health care plan on July 1, 2019. They also discussed stipend eligibility for members who elect COBRA at retirement and the open HRA rules for pre-Medicare participants in 2020.


Motions:

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

  • At its May 2019 meeting, the OP&F Board of Trustees approved the following motions:
  • Approved staff’s and TorreyCove’s recommendation to commit up to $20 million to Trident VIII. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and Wilshire’s recommendation to commit up to $50 million to GSO European Senior Debt Fund II. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and Wilshire’s investment manager rating recommendation for PIMCO’s core fixed income mandate. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s rating recommendations for OP&F’s real assets managers. 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 May 22, 2019. Motion passed by unanimous vote (Disability Committee).
  • Approved the Committee recommendation for reconsideration for the members identified in the reconsideration hearings list. 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 May 22, 2019. Motion passed by unanimous vote with one abstention for member #4 (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 May 22, 2019. Motion passed by unanimous vote (Disability Committee).
  • Pre-approved the trustee travel expenses. Motion passed by unanimous vote (Health Care Committee).


    NEXT BOARD OF TRUSTEES MEETINGS: June 18-19, 2019

Posted 6/03/2019


product 1

Monthly Board Report

Board of Trustee Elections

In 2020, OP&F will hold elections for three positions on the Board of Trustees; a retired police representative, an active police representative and an active fire representative.

Board and Committee Meetings

OP&F encourages you to come to our monthly board meetings. Board agendas and minutes can be viewed by clicking the link below.

Board Members and Committee Assignments

Please click the links below to view Committee Assignments and Board Members.