Monthly Board Report

April 2013 Monthly Board Report

OP&F INVESTMENTS SHINE IN RECENT INDEPENDENT REPORT TO LAWMAKERS
An investment report presented to the Ohio Retirement Study Council (ORSC) shows that the Ohio Police & Fire Pension Fund�s (OP&F) investment portfolio continues its exceptional performance.

In a comparison with a group of peer institutional investors, OP&F�s portfolio returns ranked in the top one percent in both the three-year and 10-year periods that ended Dec. 31, 2012. In the three-year period, OP&F realized a 10.9 percent return on investments while the 10-year period was 8.9 percent. OP&F ranked in the top two percent for performance in 2012, with a 14.9 percent return. Each of these investment periods outpaced OP&F�s assumed rate of return of 8.25 percent.

An independent actuarial firm contracted to provide the ORSC with investment reports, presented its most recent findings at the ORSC�s April 9 meeting. The comparative universe of investors used in the study includes more than 3,000 plans and $4 trillion in assets..

DATES CHANGED FOR OCTOBER 2013 BOARD MEETINGS
October's Board of Trustee meetings have been changed to Oct. 22 and 23, 2013. The meetings were previously scheduled for Oct. 29 and 30.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (4/23): $13.1 billion
  End of March value: $13.1 billion
  End of February value: $12.9 billion

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

  • DISABILITY: The Committee/Board reviewed disability cases in addition to the regularly scheduled hearings and appeals. The Committee/Board also discussed Post Traumatic Stress Disorder and reviewed the 1st Quarter 2013 Disability Experience Report.
  • BENEFITS: The Committee reviewed Deferred Retirement Option Plan statistics, both monthly and quarterly and discussed trends in the plan.
  • HEALTH CARE: The Committee/Board reviewed and discussed the most recent Health Care Stabilization Fund report, then received an update from UnitedHealthcare. The UnitedHealthcare update included information on upcoming changes to the Prescription Drug List, potential health care savings programs and also an examination of the Employer Group Waiver Plan option. The Committee/Board asked questions and discussed each of the items in the update.
  • INVESTMENT: In addition to the monthly portfolio update, the Committee/Board viewed and then discussed a presentation on a potential real estate investment opportunity.
Motions:
At its April 2013 meeting, the OP&F Board of Trustees voted on the following motions:

  • Approved Real Estate Strategic Fund Rebalancing, which includes full redemption from the INVESCO Core Fund and the ability to use dividend reinvestment programs to help gradually increase OP&F�s real estate exposure. Motion passed by unanimous vote (Investment Committee).
  • Approved the manager ratings for EARNEST Partners, Bridgewater GIPS, JP Morgan, Western Asset, Loomis Sayles, Prima, FX Concepts and Mellon as presented by staff. Motion passed by unanimous vote, except for the JP Morgan rating review, where one tress abstained (Investment Committee).
  • Approved a recommendation from Townsend to commit up to $50 million to USAA Eagle Real Estate Fund following a presentation from USAA representatives Motion passed by unanimous vote with the exception of two trustees who abstained. (Investment Committee).
  • Approved a recommendation from staff, Wilshire and Townsend to commit up to $100 million to Global Timber Investors 10, was approved following a presentation from Global Forest Partners on their current fund offering. Motion passed by unanimous vote (Investment Committee).
  • Approved staff�s recommendation to commit $60 million to Landmark Equity Partners XV following a presentation from Landmark Equity. Motion passed by unanimous vote (Investment Committee).
  • Approved the manager ratings for Forest Investment Associates, Hancock Natural Resource Group and Brookfield Timberlands Management as recommended by staff. Motion passed by unanimous vote (Investment Committee).
  • Approved the Committee recommendations for the initial determination of disability for the 12 members as identified in the initial determination hearings list presented to the Board on April 24, 2013. Motion passed by unanimous vote (Disability Committee).
  • Approved the recommendations for the appeal hearings for six of the seven members identified in the appeals list presented to the Board on April 24, 2013. Motion passed by unanimous vote (Disability Committee).
  • Approved the recommendations for Death Fund benefits for the members identified. Motion passed unanimously (Disability Committee).
  • Waived the 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 April 24, 2013. Motion passed by unanimous vote (Disability Committee).
  • Approved the Administration/Audit Committee�s travel recommendation as presented and discussed in the Administration/Audit Committee on April 23, 2013. Motion passed by unanimous vote (Administration/Audit Committee).
  • Approved the Administrative Rules outlined in staff�s memorandum dated April 23, 2013, with no changes being made for the reason outlined in such memorandum, and authorizes the required filing of the Rules with the proper agencies. Motion passed by unanimous vote (Benefits Committee).

Next Board of Trustees Meetings: May 28-29, 2013

Previous Reports

Monthly Report For August 2020
- Posted September 02, 2020
Monthly Report for June 2020
- Posted June 29, 2020
Monthly Report for February 2020
- Posted March 06, 2020
Monthly Report for January 2020
- Posted February 12, 2020
Monthly Report for December 2019
- Posted December 23, 2019
Monthly Report for October 2019
- Posted October 30, 2019
Monthly Report for September 2019
- Posted October 04, 2019
Monthly Report for August 2019
- Posted September 27, 2019
Monthly Report for June 2019
- Posted July 17, 2019
Monthly Report for May 2019
- Posted June 07, 2019
Monthly Report for April 2019
- Posted May 08, 2019
Monthly Report for March 2019
- Posted March 28, 2019
Monthly Report for February 2019
- Posted March 08, 2019
Monthly Report for January 2019
- Posted February 01, 2019
Monthly Report for December 2018
- Posted December 27, 2018
Monthly Report for November 2018
- Posted November 21, 2018
Monthly Report for October 2018
- Posted November 01, 2018
Monthly Report for September 2018
- Posted October 03, 2018
Monthly Report for August 2018
- Posted August 29, 2018
Monthly Report for June 2018
- Posted June 27, 2018
Monthly Report for May 2018
- Posted May 31, 2018
Monthly Report for April 2018
- Posted May 02, 2018
Monthly Report for March 2018
- Posted April 04, 2018
Monthly Report for February/March 2018
- Posted March 07, 2018
Monthly Report for January 2018
- Posted January 30, 2018
Monthly Report for December 2017
- Posted December 19, 2017
Monthly Report for November 2017
- Posted November 29, 2017
Monthly Report for October 2017
- Posted November 01, 2017
Monthly Report for September 2017
- Posted October 03, 2017
Monthly Report for August 2017
- Posted September 14, 2017
Monthly Report for June 2017
- Posted July 11, 2017
Monthly Report for May 2017
- Posted May 23, 2017
Monthly Report for March 2017
- Posted April 07, 2017
Monthly Report for February 2017
- Posted March 08, 2017
Monthly Report for January 2017
- Posted February 01, 2017
Monthly Report for December 2016
- Posted December 20, 2016
Monthly Report for November 2016
- Posted November 21, 2016
Monthly Report for October 2016
- Posted October 28, 2016
Monthly Report for September 2016
- Posted October 05, 2016
Monthly Report for August 2016
- Posted September 07, 2016
Monthly Report for June 2016
- Posted July 06, 2016
Monthly Report for May 2016
- Posted May 25, 2016
Monthly Report for April 2016
- Posted May 04, 2016
Monthly Report for March 2016
- Posted April 08, 2016
Monthly Report for February 2016
- Posted March 02, 2016
Monthly Report for January 2016
- Posted January 27, 2016
Monthly Report for December 2015
- Posted December 22, 2015
Monthly Report for November 2015
- Posted November 22, 2015
Monthly Report for October 2015
- Posted October 27, 2015
MONTHLY REPORT for September 2015
- Posted October 06, 2015
MONTHLY REPORT for August 2015
- Posted September 01, 2015
MONTHLY REPORT for June 2015
- Posted June 30, 2015
MONTHLY REPORT for May 2015
- Posted May 28, 2015
MONTHLY REPORT for January 2015
- Posted February 04, 2015
MONTHLY REPORT for April 2015
- Posted May 07, 2015
MONTHLY REPORT for March 2015
- Posted April 01, 2015
MONTHLY REPORT for February 2015
- Posted March 03, 2015
MONTHLY REPORT for November 2014
- Posted November 25, 2014
MONTHLY REPORT for October 2014
- Posted November 05, 2014
MONTHLY REPORT for September 2014
- Posted September 23, 2014
MONTHLY REPORT for August 2014
- Posted September 02, 2014
MONTHLY REPORT for June 2014
- Posted July 02, 2014
MONTHLY REPORT for May 2014
- Posted May 28, 2014
MONTHLY REPORT for April 2014
- Posted May 09, 2014
MONTHLY REPORT for March 2014
- Posted April 04, 2014
MONTHLY REPORT for February 2014
- Posted March 05, 2014
MONTHLY REPORT for December 2013
- Posted December 30, 2013
MONTHLY REPORT for November 2013
- Posted December 02, 2013
MONTHLY REPORT for September 2013
- Posted October 02, 2013
MONTHLY REPORT for August 2013
- Posted September 04, 2013
MONTHLY REPORT for April 2013
- Posted May 01, 2013
MONTHLY REPORT for May 2013
- Posted June 10, 2013
MONTHLY REPORT for March 2013
- Posted April 03, 2013
MONTHLY REPORT for February 2013
- Posted March 07, 2013
MONTHLY REPORT for January 2013
- Posted February 06, 2013
MONTHLY REPORT for December 2012
- Posted December 18, 2012
MONTHLY REPORT for November 2012
- Posted November 21, 2012
MONTHLY REPORT for October 2012
- Posted November 05, 2012
MONTHLY REPORT for September 2012
- Posted October 05, 2012
MONTHLY REPORT for July 2012
- Posted August 01, 2012
MONTHLY REPORT for June 2012
- Posted July 03, 2012
MONTHLY REPORT for May 2012
- Posted June 06, 2012
MONTHLY REPORT for April 2012
- Posted May 01, 2012
MONTHLY REPORT for March 2012
- Posted April 04, 2012
MONTHLY REPORT for February 2012
- Posted February 29, 2012
MONTHLY REPORT for January 2012
- Posted February 01, 2012
MONTHLY REPORT for December 2011
- Posted December 20, 2011
MONTHLY REPORT for September 2011
- Posted December 15, 2011
MONTHLY REPORT forOctober 2011
- Posted December 16, 2011
MONTHLY REPORT for November 2011
- Posted December 19, 2011
MONTHLY REPORT for July 2011
- Posted July 01, 2011
MONTHLY REPORT for June 2011
- Posted June 01, 2011
MONTHLY REPORT for May 2011
- Posted May 01, 2011
MONTHLY REPORT for April 2011
- Posted April 01, 2011
MONTHLY REPORT for March 2011
- Posted March 01, 2011
MONTHLY REPORT for February 2011
- Posted February 01, 2011
MONTHLY REPORT for January 2011
- Posted January 01, 2011



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.