Board Report, June 2023

OP&F works with employers to report electronically

This summer OP&F is initiating a campaign with employers to mandate paperless reporting and payments. Most OP&F employers already submit their reports and contributions electronically. Those employers who still submit reports manually will now be required to transition to paperless reporting.

OP&F has created a committee of Finance staff members to lead the campaign. Over the last two years, OP&F has made significant strides internally to prepare the organization for a paperless approach. As OP&F continues to move forward with this project, it is imperative that the cities, towns and townships that employ our active members are submitting their payroll reports and payments electronically.

OP&F’s Finance Department staff members will support employers through this transition, including providing training and materials. The small number of employers who do not currently both report and pay electronically are encouraged to start preparing early to ensure a smooth transition.

Partnership with Cristo Rey marks 10 year anniversary

OP&F’s Board of Trustees took time during its June meeting to recognize the 10 year anniversary of supporting Cristo Rey High School’s work study program for minority and underserved youth in Columbus. The Board ‘s efforts to support city youth in the communities police and fire serve have resulted in 100 percent of OP&F’s Cristo Rey students being accepted to college. Five of the students have been hired full time at OP&F also.

PORTFOLIO UPDATE

Board of Trustees Committee Notes

(Motions voted on by the Board are listed separately)

DISABILITY: The Committee conducted its scheduled reviews and appeal hearings.

FINANCE: Ohio’s Auditor of State audits OP&F annually to ensure the safety of member funds. The Auditor of State contracts with RSM, an independent auditing firm to perform the audit. RSM presented to the Board the Post-Audit Communications, Audit Opinion, Internal Control Report and the Report Letter, with no findings, issues or recommendations, a “clean” audit. This is the last year RSM is eligible to serve and the Auditor of State will conduct an RFQ for a new independent auditor.

INVESTMENT: In addition to a review and discussion of the investment portfolio, staff presented the 2022 Public Markets Manager Fee Report.

Motions:

At its June 2023 meeting, the OP&F Board of Trustees approved the following motions:

• Approved one Death Benefit Fund case and disapproved one Death Benefit case.
• Approved 13 Initial Determinations of Disability, and one Reconsideration Hearing for an increase.
• Approved five appeal hearings and denied one Appeal Hearing
• Approved the Disability Reporting Waivers list.

NEXT BOARD OF TRUSTEES MEETINGS: Aug. 29-30, 2023