Monthly Board Report

January 2016 Monthly Board Report

OP&F SELECTS CONSULTANT TO ASSIST WITH HEALTH CARE ISSUES

Gabriel Roeder Smith & Company (GRS) has been selected as OP&F’s first health care consultant. GRS emerged as one of five finalists who were interviewed following the release of a request for proposal last year. The first task for GRS is to gather data and analyze OP&F’s current retiree and employee health care plan design and cost. The firm is expected to provide an educational presentation at the 2016 Board of Trustees Retreat in early March. Additional presentations to the Board are expected as evaluation and analysis continues.

ELECTION MATERIALS AVAILABLE FEBRUARY 1

Petitions and other required forms will be available beginning Monday, Feb. 1 for those eligible to run in the OP&F Board of Trustee elections this spring. Members will elect an active police representative and a retired police representative to the Board. The materials will be available online at op-f.org and also at OP&F headquarters at 140 E. Town Street in downtown Columbus.

Eligible members who intend to run for a position on the Board of Trustees must submit all required forms and information to OP&F no later than 4 p.m. on April 4. Ballots will be mailed in early May and the election results announced on May 29.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (1/19/16): $13.0 billion
  End of December value: $13.8 billion
  End of November 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 and appeals, the Disability Committee presented the Disability Experience Report for the 4th quarter 2015. The Committee was also notified that all Annual Earnings Statements for 2014 have been received and payments to any suspended disability benefit recipients have been reinstated.
  • HEALTH CARE: The Health Care Committee was notified that Gabriel Roeder Smith & Company has been selected as OP&F’s health care consultant. The firm will attend the March Board of Trustees Retreat. Discussion during the meeting included investigating the impact of allowing members who have lost health care coverage to return to the OP&F plan. Additional discussion included evaluating the benefits of indexing and the impact of Deferred Retirement Option Plan (DROP) participation has on lowering health care costs.
  • BENEFITS: The 4th Quarter 2015 DROP Experience Report was presented to the Committee for discussion. Additional discussion among Trustees included the salary benchmark calculation and the effect on those who exceed the benchmark.
  • ADMINISTRATION/AUDIT:  The Committee received an update on Business and Technology Solutions Department projects, including Vitech, security-related projects, records retention and website updates. The Committee also received a report on 2016 annual compensation adjustments and 2015 paid leave buy-back programs. OP&F’s Chief Audit Executive presented several reports and projects for the Board’s review and approval.
  • INVESTMENT: In addition to the monthly portfolio update, the Board received the Private Markets Review, covering the history, compliance, performance and current state of the program. OP&F’s real estate consultant, Townsend, also presented a performance report for periods ended Sept. 30, 2015.

 

Motions:
At its January 2016 meeting, the OP&F Board of Trustees voted on the following motions:
  • At its January 2016 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved Staff’s and TorreyCove’s recommendation to commit up to $50 Million to Vista Equity Partners Fund VI. Motion passed by unanimous vote (Investment Committee).
  • Voted to interview Delaware Investments and Dimensional Fund Advisors as finalists for the small-cap equity manager search. 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 Jan. 20, 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 Jan. 20, 2016. Motion passed by unanimous vote (Disability Committee).
  • Approved the recommendation for the appeal hearing for the members identified in the appeals hearings list presented to the Board on Jan. 20, 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).
  • 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 Jan. 20, 2016. Motion passed by unanimous vote (Disability Committee).
  • Approved the 2015 Annual Mandatory Disability Experience Report by Employer, in the form presented to the Board on Jan. 20, 2016, and authorizes staff to forward the report to the appropriate public officials, in accordance with Section 742.381 of the Ohio Revised Code. Motion passed by unanimous vote (Health Care Committee).
  • Approved the Administrative Rules as amended in staff’s memorandum dated Jan. 19, 2016, and authorizes the required filing of the Rules with the proper agencies. Motion passed by unanimous vote (Administration Audit Committee).
  • Approved the Internal Auditor Charter in the form submitted to the Board of Trustees on Jan. 19, 2016. Motion passed by unanimous vote (Administration/Audit Committee).
  • Approved the calendar year 2016 Annual Audit Plan in the form submitted to the Board of Trustees on Jan. 19, 2016. Motion passed by unanimous vote (Administration/Audit Committee).
  • Approved the Internal Audit Operating Procedures Manual in the form submitted to the Board of Trustees on Jan. 19, 2016. Motion passed by unanimous vote (Administration/Audit Committee).
  • Approved Mr. David Heller’s travel expenses for attending the Alternative Investments Forum, in New York, Jan. 11-12, 2016. Motion passed by unanimous vote (Administration/Audit Committee).

Next Board of Trustees Meetings: Feb. 23-24, 2016

Board of Trustees Retreat: March 3-4, 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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