Monthly Board Report

January 2017 Monthly Board Report

JANUARY MARKS OP&F’S 50TH ANNIVERSARY

From a small office on Broad Street on Jan. 13, 1967, 19 checks were mailed to retired police officers and firefighters who previously had received their benefits from the city where they had been employed. This was the beginning of the Ohio Police & Fire Pension Fund.

At that time, the name was the Ohio Police and Fireman’s Pension and Disability Fund and it faced a daunting task of creating a trusted, comprehensive retirement system from the remains of hundreds of small municipal funds around Ohio. In 2017, the OP&F celebrates 50 years of providing secure and reliable retirement income for Ohio’s public safety officers.

In 1966, Amended House Bill 642 created OP&F, consolidating 425 individual funds. When operations began on Jan. 1, 1967, assets totaling $75 million were transferred from these individual funds to OP&F. However, the new pension fund also inherited $490 million in liabilities. Today OP&F meets all state funding requirements and its investment portfolio is valued at $14.6 billion.

OP&F PRESENTED FINANCIAL REPORTING AWARD

The Government Finance Officers Association has again presented OP&F with the Certificate of Achievement in Financial Reporting for the 2016 Comprehensive Annual Financial Report. OP&F has received the award in 24 of the past 25 years.

BOARD RETREAT SCHEDULED FOR MARCH 2

The spring Board of Trustees Retreat will be March 2 at Creekside Conference and Event Center in Gahanna. The future of OP&F’s retiree health care plan will be the primary topic of discussion during the meeting. Staff and consultants will provide trustees with the most up-to-date data concerning the plan. As with all Board meetings, the retreat is open to the public.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (1/24/17): $14.6 billion
  End of December value: $14.4 billion
  End of November value: $14.3 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 4th quarter Disability Experience Report for 2016 and also the 2016 Annual Disability Experience Report by Employer.
  • BENEFITS: The Committee discussed the 4th Quarter Deferred Retirement Option Plan Experience Report and heard a recap of an administrative rule to be approved.
  • HEALTH CARE: The Committee received information on member concerns being received since the beginning of the new health care plan year on Jan. 1 and requested quarterly data on the number of member inquiries. The Committee had significant discussion on the future direction of the OP&F retiree health care plan.
  • ADMINISTRATION/AUDIT: The Committee received an update on projects from the Business and Technology Solutions Department and also the Internal Audit Status Report. The Committee also received a list of board education opportunities for the coming year.
  • GOVERNMENT AFFAIRS/POLICY: The initial meeting of this new committee included information on what the new Ohio General Assembly will be working on in the coming months and the approval of a committee schedule for 2017.
  • INVESTMENT: In addition to the monthly portfolio update, the Board received the 3rd Quarter Real Estate Performance Review and the framework for the Real Assets Investment Policy. The Board also discussed the Private Markets Review, which covered the history, policy compliance, performance and current state of OP&F’s Private Markets program.

    Motions:
    At its January 2017 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved staff and TorreyCove’s recommendation to commit up to $24 million to Marlin Equity V and up to $6 million to Marlin Heritage II. Motion passed by unanimous vote (Investment Committee).
  • Approved the 2017 Private Markets Investment Plan as presented by staff, Torrey Cove and Wilshire, which targets aggregate capital commitments of $175 million to the private markets asset class through Jan. 31, 2018. Motion passed by unanimous vote (Investment Committee).
  • Approved the investment manager guidelines for the Prudential Levered Core Bond mandate as recommended by staff and Wilshire. 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. 25, 2017. 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. 25, 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 Jan. 25, 2017. 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. 25, 2017. Motion passed by unanimous vote (Disability Committee).
  • Approved the 2016 Employer Disability Experience Report in the form presented to the Board on Jan. 25, 2017. Motion passed by unanimous vote (Disability Committee).
  • Approved the Administrative Rule outlined in staff’s memorandum dated Jan. 24, 2017, and authorized the required filing of the rule with the proper agencies. Motion passed by unanimous vote (Benefits Committee).
  • Approved the 2017 Annual Audit Plan in the form submitted to the Board on Jan. 24, 2017. Motion passed by unanimous vote (Administration/Audit Committee).
  • Approved the 2016 Annual Audit Report in the form submitted to the Board on Jan. 24, 2017. Motion passed by unanimous vote (Administration/Audit Committee).
  • Approved the Government Affairs and Policy Committee Charter as amended in the Administration/Audit Committee on Jan. 24, 2017. Motion passed by unanimous vote (Administration/Audit Committee).
NEXT BOARD OF TRUSTEES MEETINGS: Feb 21-22, 2017

Previous Reports

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.