Monthly Board Report

Health care webinars scheduled for September

OP&F’s health care partner, Aon Retiree Health Solutions, will host webinars Sept. 15-24 to explain health care options for eligible OP&F members, unlike past years, they will be webinars instead of in-person events.

In order to better explain the options available to retirees, the meetings will be split into two sessions, one for Medicare-eligible retirees and one for pre-Medicare retirees. Both Aon and OP&F personnel will be available to answer questions. The dates and information are listed on the Aon website dedicated to OP&F retirees (myexchangeconnection.com/OP-F).

PORTFOLIO UPDATE

OP&F’s investment portfolio value:

  • Current value (8/25/20):$15.7 billion
  • End of May value: $15.5 billion
  • End of April value: $15.1 billion

Board of Trustees Committee Notes

(Motions voted on by the Board are listed separately)

  • DISABILITY: The Committee conducted its scheduled hearings and appeals, which took place in executive session.
  • FINANCE: A representative from RSM, OP&F’s independent auditor, presented the external audit report to the Committee. The audit completed in June did not identify any internal control issues from 2019 and noted that the issues reported in 2018 had been addressed and corrected.
  • GOVERNMENT AFFAIRS AND POLICY: OP&F’s legislative consultant briefed the trustees on news and potential legislation at the Statehouse and discussed possible future legislation concerning OP&F.
  • INVESTMENT: Staff discussed the monthly portfolio performance update and significant cash movements. OP&F investment consultant, Wilshire, presented the initial round of an Asset Only Allocation Study for consideration and discussion. The Committee also discussed the following reports: the second quarter Performance Review, the 2019 Private Investments Status Report, the first quarter Real Estate Performance and Portfolio Review and the first quarter Real Assets Performance and Portfolio Review.

Motions:

At its August 2020 meeting, the OP&F Board of Trustees approved the following motions:

  • Adopted the proposed schedule for the 2020 trustee elections that were postponed due to the coronavirus pandemic, and approved the proposed changes to Administrative Rule 742-2-01, as outlined in staff’s memorandum dated Aug. 25, 2020, and authorized the required filing of the Rule with the proper agencies. Motion passed by unanimous vote (General Counsel).
  • Approved the Administrative Rules outlined in staff’s memorandum dated Aug. 25, 2020, and authorized the required filing of the Rules with the proper agencies. Motion passed by unanimous vote (General Counsel).
  • Accepted the rating recommendations of Investment Staff for OP&F’s private markets investment managers as outlined in Investment Staff’s memorandum to the Board dated Aug. 25, 2020. Motion passed by 7-0 with one abstention (Investment Committee).
  • Accepted the investment manager rating recommendations of Investment Staff for OP&F’s investment mandates with Macquarie, MacKay Shields (Opportunistic High Yield), Harvest, Salient and Tortoise as outlined in Investment Staff’s memos to the Board dated Aug. 25, 2020. Motion passed by 7-0 with one abstention (Investment Committee).
  • Approved staff’s and Wilshire’s recommendation to approve a 5.0 percent gold allocation and a 5.0 percent increase in total portfolio leverage. Motion passed by unanimous vote (Investment Committee).
  • Accepts Townsend’s recommendation to submit a full redemption from Jamestown Premier Property Fund, a partial redemption from Heitman HART ($50 million), and a partial redemption from JPM Strategic Property Fund ($50 million), and turn the dividend reinvestment plan on for Lion Industrial Trust, upon the terms outlined in Townsend’s memorandum dated Aug. 26, 2020 and such other terms that are favorable or protective to OP&F, as determined by the Executive Director. Motion passed by unanimous vote (Investment Committee).
  • Accepted Townsend’s recommendation to adopt the 2020 Real Estate Investment Plan: Mid-Year Update as presented to the Board on Aug. 26, 2020. Motion passed by unanimous vote (Investment Committee).
  • Approved the recommendations for the initial determination of disability for the members as identified in the initial determination hearings list presented to the Board on Aug. 26, 2020. Motion passed by unanimous vote (Disability Committee).
  • Approved the appeal hearings for the members identified in the appeals list presented to the Board on Aug. 26, 2020. Motion passed by unanimous vote (Disability Committee).
  • Approved the waiver of 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, 2020. Motion passed by unanimous vote (Disability Committee).
  • AApproved the recommendations for Death Fund benefits for the members identified. Motion passed by unanimous vote (Disability Committee).
  • Approved the recommendation for Reconsideration for the member identified. Motion passed by unanimous vote (Disability Committee).

NEXT BOARD OF TRUSTEES MEETINGS: Sept. 29-30, 2020

Posted 9/2/2020

Previous Reports

Monthy Report For September 2020
- Posted October 08, 2020
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.