Monthly Board Report

Board approves premiums, expenses for Tricare insurance for stipend use

In another move to make retiree health care stipends more useful, the OP&F Board approved Tricare as an allowable expense for reimbursement. Tricare is the health care program for current and former uniformed military members. Beginning with the 2020 plan year, premiums and other allowable health care expenses can be reimbursed to OP&F members who participate in the retiree health care plan.

Aon again hosting health care meetings in September

OP&F’s health care partner, Aon Retiree Health Solutions, will be hosting a series of health care meetings around the state in September. This year, the sessions will be split between Medicare retirees and pre-65 retirees in order to help differentiate information intended for each group. Retirees can register to attend the meetings on the Aon website.

PORTFOLIO UPDATE

OP&F’s investment portfolio value:
Current value (8/27/19): $15.5 billion
End of July value:     $15.8 billion
End of June value: $15.8 billion

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

  • DISABILITY: In addition to the scheduled hearings and appeals, the Committee reviewed the results of the Disability Exam Satisfaction Survey for the first half of 2019. The Committee also received the Disability Experience Report for the 2nd quarter of 2019.
  • FINANCE: The Committee reviewed the 2nd quarter 2019 Budget-to-Actual Report, the Review Status of Past Due Employers, and the 2nd Quarter 2019 Travel Expense Reports during the meeting.
  • BENEFITS: The Committee received and discussed the 2nd quarter Deferred Retirement Option Plan Experience Report and also had a discussion with communications consultants on the use of social media and an upcoming planned survey of retirees on health care.
  • GOVERNMENTAL AFFAIRS/POLICY: OP&F’s legislative consultant discussed potential legislative items with the Committee, including disability experts and the potential of staggered trustee elections.
  • INVESTMENT:In addition to the monthly portfolio performance update, the Board received performance review reports on the Real Assets and Real Estate portfolios for the periods ended March 31, 2019. The Investment Performance Report for periods ended June 30, 2019 was also reviewed. The Private Investments Audit Report was also provided to the Board.
  • HEALTH CARE: Representatives from Aon provided information on the changes for 2020 with the open HRA, discussed the issue resolution process and adding Tricare as an eligible stipend expense.

Motions:

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

  • At its August 2019 meeting, the OP&F Board of Trustees approved the following motions: Approved Townsend’s recommendation to commit up to $80 million to Brookfield Infrastructure Fund IV. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s recommendation to rebalance exposures within the Strategic and Tactical Real Estate portfolios. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s investment manager rating recommendations for Macquarie Investment Management, Harvest Capital Advisors, Salient Partners, Tortoise Capital Advisors and the MacKay Shields Opportunistic mandate. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s rating recommendations for OP&F’s private markets managers. Motion passed by unanimous vote (Investment Committee).
  • Approved conducting a survey of Medicare and pre-Medicare members. Motion passed by unanimous vote (Benefits 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. 28, 2019. 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. 28, 2019. 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 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 Aug. 28, 2019. Motion passed by unanimous vote (Disability Committee).
  • Approved the use of health care stipend funds for premiums and expenses related to Tricare insurance benefits. Motion passed by unanimous vote (Health Care Committee).

    NEXT BOARD OF TRUSTEES MEETINGS: Sept. 24-25, 2019

    Posted 9/27/2019

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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