Monthly Board Report

August 2015 Monthly Board Report

PRE-RETIREMENT SEMINARS BEGIN IN SEPTEMBER

OP&F’s annual Pre-Retirement Seminar series will begin Sept. 14 in Dayton. OP&F will host six seminars around Ohio to assist members who are approaching retirement eligibility or considering enrolling in the Deferred Retirement Option Plan (DROP). The OP&F Pre-Retirement Seminars are conducted to describe pension benefits available to members and their dependents upon retirement. OP&F will present information on DROP and survivor benefits. Each seminar begins at 7 p.m. and lasts approximately two hours. Active members who are eligible for retirement or DROP within the next five years were mailed an invitation with additional seminar information.

WAINSCOTT RESUMES SPOT AS VICE CHAIR ON BOARD; MONTGOMERY CHAIR-ELECT

John Wainscott (retired, Cincinnati Police) was nominated and accepted the position of vice chair on the OP&F Board of Trustees at the group’s August meetings, which concluded Aug. 26. Wainscott is currently serving his first four year term as a trustee after being elected in June 2012. Ed Montgomery (Columbus Police) was elected Chair Elect at the meeting and will assume the role as Chair of the Board of Trustees next June. Currently, Daniel Desmond (Toledo Fire) is serving as the Board Chair.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (08/25): $13.7 billion
  End of July value: $14.6 billion
  End of June value: $14.5 billion

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

  • DISABILITY: In addition to the regularly scheduled hearings and appeals, the Disability Committee reviewed the 1st Half 2015 Disability Exam Satisfaction Survey results with staff and panel physicians. The Disability Experience Report for the 2nd quarter of 2015 was also presented to the Committee..
  • HEALTH CARE: The Board reviewed the Medicare Part D Attestation Report for 2016 and also discussed the Ohio retirement systems’ irrevocable waiver process. Staff is currently working with the Ohio Public Employees Retirement System on the status of health care coverage in 2016 for members who waived OP&F coverage. Additional information on this topic will be reported to the Board in September.
  • FINANCE:  The committee was updated on the status of the project to supply OP&F employers with data required by new rules implemented by the Government Accounting Standards Board. The required information will be available to employers on the OP&F website the week of Aug. 31.
  • ADMINISTRATION/AUDIT: The committee was given updates on several OP&F projects and discussed the projects during the Business & Technology Solutions Report.
  • INVESTMENT: In addition to the monthly portfolio update, the Committee/Board received the 2nd Quarter Performance Review and discussed the 2015 Real Estate Investment Plan and a review of the OP&F’s allocation to timber. The Committee/Board also received and discussed a presentation from OP&F consultant TorreyCove on OP&F’s private markets allocation.

 

Motions:
At its August 2015 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved manager ratings for the private markets managers as recommended by staff. Motion passed with seven votes for and two abstentions (Investment Committee).
  • Approved staff’s recommended manager ratings for Pyramis ACWI ex-U.S., MacKay - Opportunistic, MacKay - Active Core, PENN, OP&F’s MLP managers and MC Credit Partners. Motion passed by unanimous vote (Investment Committee).
  • Approved the recommended changes to the Neuberger Berman High Yield Portfolio Guidelines. Motion passed by unanimous vote (Investment Committee).
  • Approved Wilshire’s and staffs recommended minimum criteria for the U.S. Equity small-cap manager search. Motion passed by unanimous vote (Investment Committee).
  • Approved the Committee recommendations for the initial determination of disability for the 26 members as identified in the initial determination hearings list presented to the Board on Aug. 26, 2015. Motion passed by unanimous vote (Disability Committee).
  • Approved the Committee recommendation for reconsideration for the members 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 Aug. 26, 2015. Motion passed by unanimous vote, except for member #5, which passed by a vote of 8-1 (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 for Death Fund reconsideration for the members identified. Motion passed by unanimous vote (Disability Committee).
  • Approved the Committee recommendation for the determination for dependent disabled child benefits. 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 Aug. 26, 2015. Motion passed by unanimous vote, except for member #12, which passed by a vote of 8-1 (Disability Committee).
  • Approved the Administration/Audit Committee Charter as presented at the Aug. 25, 2015 Administration/Audit Committee Meeting. Motion passed by unanimous vote (Administration Audit Committee).
  • Approved the proposed change to the Board Governance Policy, as outlined in staff’s memorandum dated Aug. 25, 2015. Motion passed by unanimous vote (Administration Audit Committee).
  • Approved the Administration/Audit Committee’s travel recommendations as discussed in the Aug. 25, 2015 Administration/Audit Committee meeting. Motion passed by unanimous vote (Administration Audit Committee).

Next Board of Trustees Meetings: September 29-30, 2015

Previous Reports

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

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.

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.