Monthly Board Report

April 2015 Monthly Board Report

CANDIDATES SET FOR TRUSTEE ELECTIONS

Elections take place this month to fill two spots on the OP&F Board of Trustees, an active police position and the retired fire position. Ballots are already in the mail and election results will be announced later this month.

William Deighton, the longest serving current member of the Board, is again a candidate for the retired firefighter position. Deighton is a retired firefighter from the Cleveland Fire Department and became a member of the OP&F Board in 2003. Also running for the retired fire position is Charles Campbell, a retiree from the Columbus Division of Fire.

The election for an active police representative on the Board will be between George Sakellakis from Brook Park Police and Timothy Patton from Cleveland Police. The winner will serve a four year term on the Board.

Both of the active fire seats on the Board are also up for election this spring however the current trustees are unopposed so no election is needed. Current trustees Daniel Desmond (Toledo Fire) and Jeffrey Moore (West Chester Fire) successfully submitted nominating petitions and will be serving their first full terms as trustees.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (04/28): $14.9 billion
  End of March value: $14.7 billion
  End of February value: $14.4 billion

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

  • DISABILITY: The Committee/Board reviewed disability and death benefit fund cases. The Committee/Board also discussed with the panel physicians potential impairments due to the use of anti-coagulant medications. Staff also presented the 1st Quarter 2015 Disability Experience Report.
  • BENEFITS: The Committee listened to and discussed a presentation on the 1st Quarter 2015 Deferred Retirement Option Plan Experience Report and also discussed a new DROP estimator which is being developed for the OP&F website.
  • HEALTH CARE: The Board was given a presentation from OP&F’s independent actuary, Buck Consultants, that contained educational information on the current individual health insurance marketplace as an alternative to the traditional group plan offered by OP&F. The Board agreed that additional information and research would be useful before they make long-term decisions.
  • INVESTMENT: In addition to the monthly portfolio update, the Committee/Board received the 4th Quarter Real Estate Performance Review.

 

Motions:
At its April 2015 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved staff and Torrey Cove’s recommendation to commit up to $40,000,000 to TA XII. Motion passed by unanimous vote (Investment Committee).
  • Approved staff and Torrey Cove’s recommendation to commit up to €38,000,000 to EQT VII. Motion passed by unanimous vote (Investment Committee).
  • Approved staff and Torrey Cove’s recommendation to not proceed with the investment in BDCM Opportunity Fund IV. Motion passed by unanimous vote (Investment Committee).
  • Approved Investment Staff’s recommended manager ratings for Bridgewater GIPS, Loomis Sayles, JP Morgan, PIMCO and Prima. Motion passed by unanimous vote (Investment Committee).
  • Approved Investment Staff’s recommended manager ratings for Forest Investment Associates, Hancock Natural Resource Group, Brookfield Timberlands Management and Global Forest Partners. Motion passed by unanimous vote (Investment Committee).
  • Approved the Committee recommendations for the initial determination of disability for the 18 members as identified in the initial determination hearings list presented to the Board on April 29, 2015. Motion passed by unanimous vote, except for the member number 11, which passed by a vote of 6-1 (Disability Committee).
  • Approved the Committee recommendation for reconsideration for the member identified. Motion passed by unanimous vote (Disability Committee).
  • Approved the recommendation for the appeal hearing for the member identified in the appeals list presented to the Board on April 29, 2015. Motion passed by unanimous vote (Full Board).
  • Approved the Committee recommendation for Death Fund benefits for the members identified. Motion passed by unanimous vote (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 29, 2015. Motion passed by unanimous vote (Disability Committee).
  • Approved the Administrative Rule outlined in staff’s memorandum dated April 28, 2015, with no changes being made for the reason outlined in such memorandum. Motion passed by unanimous vote (Benefit Committee).

Next Board of Trustees Meetings: May 19-20, 2015

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.