Monthly Board Report

December 2017 Monthly Board Report

NO TRUSTEE ELECTIONS IN 2018, ELECTION SCHEDULE CHANGED FOR 2019, 2020

While there will be no elections for Board of Trustee positions in 2018, the election schedule was altered so that the two active firefighter positions do not expire at the same time.

Due to the timing of past trustee resignations, retirements and appointments, the two active firefighter positions were scheduled to expire in May 2019. Legislation is expected to pass this month to re-set the trustee election schedule so that one active fire position will expire in 2019 and the other in 2020.

Daniel Desmond (Toledo Fire) and Jeffrey Moore (West Chester Fire) are the current firefighter representatives on the Board. Moore’s term will expire in 2019, while Desmond’s will now expire in 2020. Also up for election in 2019 will be the retired firefighter position now held by William Deighton (Cleveland Fire) and the active police position now held by Timothy Patton (Cleveland Police).

EMAILS NEEDED FOR BOARD REPORT IN 2018

OP&F expects to transition to an email-only delivery of the Board Report newsletter during the 1st quarter of 2018. In preparation for this change, please contact OP&F with the email address you would like to use to receive the newsletter. Send the information to: dgraham@op-f.org.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (12/12/17): $15.5 billion
  End of November value: $15.6 billion
  End of October value: $15.5 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 Committee heard an update on disability benefit terminations, disability fraud activity and the number of Annual Earnings Statements that remain outstanding.
  • HEALTH CARE: The Committee received a presentation from Aon regarding the implementation of the transition to the new retiree health care plan in 2019. The trustees, staff and Aon representatives discussed and identified some of the guiding principles required to move forward with planning.
  • PERSONNEL: The Committee reviewed OP&F’s annual Emergency Replacement Plan.
  • GOVERNMENTAL AFFAIRS & POLICY: OP&F’s legislative consultant updated the Committee on activity at the Statehouse and retirement system legislation that is expected to pass by the end of the year.
  • INVESTMENT: In addition to the monthly portfolio performance update, the Board received the Private Markets Report and the Real Assets Report for the 3rd quarter of 2017.

    Motions:
    At its December 2017 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved Townsend’s recommendation to adopt the 2018 Real Estate Investment Plan. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s recommendation to adopt the 2018 Real Assets Investment Plan. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and Wilshire’s recommended changes to the Western Asset Investment Manager Guidelines. 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 Dec. 12, 2017. 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 Dec. 12, 2017. Motion passed by unanimous vote with the exception of Member #3, which passed by a vote of 7-1 (Disability Committee).
  • Approved the Committee recommendation for Death Fund benefits for the member 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 Dec. 12, 2017. Motion passed by unanimous vote (Disability Committee).
  • Approved the Administrative Rules outlined in staff’s memorandum dated Dec. 12, 2017, and authorizes the required filing of the Rules with the proper agencies. Motion passed by unanimous vote (Disability Committee).
  • Approved the 2018 Medicare Part B reimbursement at the maximum amount of $107. Motion passed by unanimous vote (Health Care Committee).
  • Approved a motion to pre-approve travel expenses for Mr. Desmond and Mr. Patton’s travel expenses to attend the 2018 NCPERS Legislative Conference January 28-30, 2018 in Washington, DC. Motion passed by unanimous vote (Disability Committee).
  • Adopted Risk Management Policy as presented to the Board on Dec. 12, 2017. Motion passed by unanimous vote (Full Board).

NEXT BOARD OF TRUSTEES MEETINGS: Jan. 23-24, 2018

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

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