Monthly Board Report

August 2016 Monthly Board Report

PRE-RETIREMENT SEMINARS BEGIN IN SEPTEMBER

OP&F’s annual Pre-Retirement Seminar series will begin Sept. 13 in Toledo. OP&F will host six seminars around Ohio to assist members who are approaching retirement eligibility or are 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.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (8/30/16): $14.3 billion
  End of July value: $14.3 billion
  End of June value: $14.0 billion

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

  • DISABILITY: In addition to the regularly scheduled hearings, the Committee reviewed the Disability Exam Satisfaction Survey for the first half of 2016 with staff and panel physicians. The Committee also received the Disability Experience Report for the 2nd quarter of 2016.
  • BENEFITS: The 2016-17 schedule for the Benefits Committee was presented for review. A discussion took place regarding options surrounding a request for early withdrawal of funds from a member’s Deferred Retirement Option Plan account. Staff informed the Committee that current statute does not permit members who are not vested in their DROP funds to withdraw this money and that the requirement is based on Internal Revenue Code restrictions. Additional research was requested, including tax implications.
  • HEALTH CARE: Communication material is being developed for the upcoming changes to the 2017 health care plan and the Annual Change Period. OP&F’s health care consultant has developed a project plan to chart progress and work toward long-term goals. The Committee received information that the Medicare Part D Attestation for 2017 has been completed by OP&F’s actuaries and the certification qualifies OP&F for the expected federally funded reimbursements. UnitedHealthcare representatives reported on options available to a limited number of members who reside in a Florida community that has its own health care system and does not accept patients with Medicare or Medicare supplement plans.
  • ADMINISTRATION/AUDIT: The Committee reviewed its schedule for 2016-17 and received the Internal Audit Status Report and Audit Plan Schedule updates.
  • INVESTMENT: In addition to the monthly portfolio update, the Board received a presentation by representatives from PIMCO. Wilshire, OP&F’s general investment consultant, presented a performance report through the 2nd quarter of 2016. Additionally, staff presented the Board with a draft of an annual consultant satisfaction survey, the Private Markets Audit Report and the Timberland Program Review.

     

    Motions:
    At its August 2016 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved staff’s recommended manager ratings for Fidelity (ACWI ex-U.S.), Harvest Fund Advisors, Salient Capital Advisors, Tortoise Capital Advisors, PIMCO, and MacKay Shields (Opportunistic High Yield). Motion passed by unanimous vote (Investment Committee).
  • Approved the revised investment manager guidelines for Delaware Investment Advisors as recommended by Staff and Wilshire. Motion passed by unanimous vote (Investment Committee).
  • Approved Staff’s recommended manager ratings for the Private Markets 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 Aug. 31, 2016. Motion passed by unanimous vote. (Disability Committee).
  • Approved the Committee recommendation for reconsideration for the members identified in the reconsideration hearings list presented to the Board on Aug. 31, 2016. 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 Aug. 31, 2016. Motion passed by unanimous vote (Disability Committee).
  • Approved the determination for the member identified in the special hearing list presented to the Board on Aug. 31, 2016. Motion passed by unanimous vote (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 benefits reconsideration 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 Aug. 31, 2016. Motion passed by unanimous vote (Disability Committee).
  • Approved the motion to pursue a more in-depth analysis of changing the retiree health care premium subsidy to a structure based on years of service credit. Motion passed by unanimous vote (Health Care Committee).
  • Approved the Administration/Audit and Benefits Committee Charters as presented to the Board on Aug. 30, 2016. Motion passed by unanimous vote (Administration/Audit Committee).
  • Approved the travel recommendations as presented to the Board on Aug. 30, 2016. Motion passed by unanimous vote (Administration/Audit Committee).
  • Approved the Board Governance Policy as presented to the Board on Aug. 30, 2016. Motion passed by unanimous vote (Administration/Audit Committee).

NEXT BOARD OF TRUSTEES MEETINGS: Sept. 27-28, 2016

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.

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