Monthly Board Report

March 2014 Monthly Board Report

DESMOND APPOINTED TO BOARD
Daniel Desmond, a Toledo firefighter and paramedic with more than 25 years of service, was appointed to the OP&F Board of Trustees on March 6. Desmond fills the active fire representative position vacated when Lawrence G. Petrick, Jr. resigned from the Board after retiring from active fire service. Desmond will serve until the spring of 2015, when he will be eligible to run for a full four-year term on the Board of Trustees..

Desmond has been with the Toledo Fire and Rescue Department since 1989 and previously served with the Sylvania Township Fire Department. He is also the vice president of the Toledo Firefighters Local 92. During his career Desmond has been awarded the Life Saving Achievement Award and decorated for a job-related incident.

TRUSTEE HELLER TO SERVE ON INVESTMENT ADVISORY BOARD
David Heller, the Governor’s representative to the OP&F Board of Trustees, has been asked to serve on the Alternative Investments Forum (AIF) Advisory Board. AIF is an independent economic think tank focused on institutional investment policy. Its mission is to foster education, communication and information exchange among institutional investors globally to help them achieve their investment objectives. Heller accepted the invitation.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (3/25): $14.1 billion
  End of February value: $14.2 billion
  End of January value: $13.8 billion

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

  • DISABILITY: The Committee/Board reviewed disability cases in addition to the regularly scheduled hearings and appeals. The Committee/Board also discussed a memorandum regarding the reporting of potential disability fraud for two members.
  • BENEFITS: The Committee discussed with staff the salary benchmark process. Also discussed was a mailing from AARP concerning members aging-in to Medicare as they approach age 65. The Committee requested that UnitedHealthcare provide copies to OP&F of mass mailings to members. Requested for the April meeting was information detailing what causes a member to lose health care coverage and that the next Deferred Retirement Option Plan (DROP) Experience Report show 10 years of data regarding the average time members remain in DROP.
  • INVESTMENT: In addition to the monthly portfolio update, the Committee/Board received information on the Semi-Annual Proxy Voting Report. Several 4th quarter reports were also presented to the Board for informational purposes: Compliance Review, Net of Fees Performance Report, Timberland Report, and the Private Markets Report. The annual Manager Meetings Report was also included.
Motions:
At its March 2014 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved the updates to the Investment Policy and Guidelines as discussed on March 26, 2014. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s recommendation to invest up to $50 million into Greystar Equity Partners VIII. Motion passed 6-1 with one abstention (Investment Committee).
  • Approved staff’s recommendation to invest up to $100 million into MC Credit Fund I. Motion passed7-1 (Investment Committee).
  • Approved manager ratings for AQR, Grosvenor, Russell Implementation Services and Neuberger Berman as recommended by staff. Motion passed by unanimous vote (Investment Committee).
  • Approved the revisions to the Proxy Voting Policy as recommended by OP&F’s proxy voting advisor. Motion passed by unanimous vote (Investment Committee).
  • Approved a revised OP&F Securities Litigation Policy as discussed with General Counsel. Motion passed by unanimous vote (Investment Committee).
  • Approved the Committee recommendations for the initial determination of disability for the nine members as identified in the initial determination hearings list presented to the Board on March 26, 2014. Motion passed by unanimous vote for all but member number 1, which passed 6-1 (Disability Committee).
  • Approved the determination for reconsiderations for the members identified. Motion passed by unanimous vote (Disability Committee).
  • Approved the recommendations for the appeal hearings for the six members identified in the appeals list presented to the Board on March 26, 2014. Motion passed by unanimous vote for all but member number 5, which passed 5-2 (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 March 26, 2014. Motion passed by unanimous vote (Disability Committee).
  • Approved the recommendations for Death Fund benefits for the members identified. Motion passed unanimously (Disability Committee).
  • Approved the recommendation that the two disability benefit recipients outlined in staff’s memorandum dated March 25, 2014 be required to undergo medical evaluations for the reasons outlined in that memorandum. Motion passed unanimously (Disability Committee).
  • Approved the travel recommendations as discussed during the Administration/Audit Committee meeting on March 25, 2014. Motion passed 6-0 with one abstention (Benefit Committee).

Next Board of Trustees Meetings: April 29-30, 2014

Previous Reports

Monthy Report For September 2020
- Posted October 08, 2020
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.