Monthly Board Report

RETIREE HEALTH CARE TRANSITION PROGRESSES, BOARD CONSIDERING MEMBER FEEDBACK FOR 2020

Trustees and staff of the Ohio Police & Fire Pension Fund listened to concerns from members about retiree health care changes during the public comment portion of the trustee meeting on Jan. 23. Advisors from Aon, OP&F’s health care partner, were also in attendance to assist individuals with questions. Answers for the questions have been posted in the news section of op-f.org. The Board will be taking feedback from members under consideration for the 2020 plan year.

Despite the concerns of some members, the transition to the new health care model for retirees has been successful. Through Jan. 29, Aon had paid nearly $4.0 million in claims (approximately 21,000 separate claims). Both OP&F and Aon continue to work with members having difficulty accessing their Health Reimbursement Accounts. OP&F’s self-insured group health care plan ended Dec. 31. The change from the group plan for retirees to the stipend model extends OP&F’s ability to provide health care assistance to retirees from less than 10 years to approximately 15 years.

PORTFOLIO UPDATE

OP&F's investment portfolio value:

Current value (1/22/19): $15.0 billion
End of December value: $14.6 billion
  End of November value: $15.2 billion

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

  • GOVERNMENT AFFAIRS AND POLICY: The Committee heard updates on the new Ohio General Assembly and House and Senate leadership positions during the report from OP&F’s legislative consultant.
  • INVESTMENT: In addition to the monthly portfolio performance update, the Board reviewed the real estate and real assets performance reports for the periods ended Sept. 30, 2018. Staff also presented the Private Markets Program Review for discussion.
  • DISABILITY: Staff presented to the Committee the fourth quarter 2018 Disability Experience Report for review.
  • BENEFITS: Staff presented the 4th quarter Deferred Retirement Option Plan Experience Report for discussion.
  • ADMINISTRATION/AUDIT: The Committee received the Business and Technology Solutions Department update on ongoing projects. Also received was the Internal Audit Status Report. The chief audit executive attested to the independence and objectivity of internal audit and explained there were no impairments or scope limitations that needed to be disclosed.
  • HEALTH CARE: Representatives from Aon provided an update on the 2019 Health Care Transition and answered questions from trustees concerning the enrollment process, plan choices and next steps for both the Medicare and pre-Medicare retiree populations.

Motions:

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

  • Approved the 2019 Private Markets Investment Plan. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and Wilshire’s recommended changes to the MLP Benchmark. 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 23 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 Jan. 23, 2019. Motion passed by unanimous vote (Disability Committee).
  • Approved the 2018 Employer Disability Experience Report in the form presented on Jan. 23, 2019, and authorized staff to forward the report to the appropriate public officials. Motion passed by unanimous vote (Disability Committee).
  • Approved the Administrative Rules outlined in staff’s memorandum dated Jan. 22, 2019, and authorized the required filing of the Rules with the proper agencies. Motion passed by unanimous vote (Benefit Committee).
  • Approved the adoption of the 2018 Annual Audit Report for the Ohio Retirement Study Council effective Jan. 22, 2019. Motion passed by unanimous vote (Administration/Audit Committee).
  • Approved the Internal Audit Charter as presented on Jan. 22, 2019. Motion passed by unanimous vote (Administration/Audit Committee).
  • Adopted the Risk Management Policy as presented on Jan. 22, 2019. Motion passed by unanimous vote (Administration/Audit Committee).
  • Adopted the 2019 Internal Audit Plan as presented on Jan. 22, 2019. Motion passed by unanimous vote (Administration/Audit Committee).
  • Approved the trustee travel recommendation as presented on Jan. 22, 2019. Motion passed by unanimous vote (Administration/Audit Committee).

    NEXT BOARD OF TRUSTEES MEETINGS FEB. 26-27, 2019

    Posted 2/1/2019

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.

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