Monthly Board Report

March 2018 Monthly Board Report

BOARD APPROVES HEALTH CARE TRANSITION FOR 2019

The OP&F Board of Trustees unanimously approved the implementation date and framework for a new health care model during its meeting Tuesday, March 27. After reviewing and discussing several scenarios, the Board selected a model that would provide stipends to eligible retirees and their spouses at an amount that would keep the health care fund solvent for 15 years. The new plan will be implemented on Jan. 1, 2019.

Stipend amounts are now posted to the OP&F website and details such as eligibility guidelines will be announced in the coming weeks. OP&F’s health care partner, Aon, has been working with staff in anticipation of the new plan design, which will allow OP&F retirees to use the monthly stipend amount to select a health care plan that best fits the specific needs of their family using the Aon health care private market exchange.

With these decisions now made, Aon and OP&F can move forward with a plan to notify OP&F retirees of the process of selecting a health care plan for 2019.

BOARD REPORT TO BE EMAIL NEWSLETTER IN 2018

OP&F expects to transition to an email-only delivery of the Board Report newsletter during 2018. To continue to receive the Board Report, forward your email address to: dgraham@op-f.org.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (3/27/18): $15.4 billion
  End of February value: $15.7 billion
  End of January value: $16.2 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 Committee received the 2017 Helping Our Survivors in Transition (HOST) Experience Report.
  • HEALTH CARE: The Committee received the 2017 Health Care Stabilization Fund 2017 Year-end Report and information on the Health Care Discount Program and Poverty Level Guidelines for 2018. The Board also presented and discussed with the audience answers to a list of questions submitted by the Ohio Association of Professional Firefighters that concerned the new health care model approved for 2019.
  • INVESTMENT: In addition to the monthly portfolio performance update, the Board received a report on the Proxy Voting Report covering the second half of 2017. Investment staff also provided and commented on the 4th Quarter Private Markets Report.
  • PERSONNEL: The committee reviewed the 2018 Annual Compensation Adjustments and the 2017 Paid Leave Buy Back Programs.

    Motions:
    At its March 2018 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved staff’s and Wilshire’s recommendation to select Arrowstreet Capital as investment manager for OP&F’s Non-US Equity Investment mandate. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s recommended changes to the Proxy Voting Policy. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s manager rating recommendations for Bridgewater Global Macro, Grosvenor GIP and Flight Fund, Neuberger Berman and Russell Investments. 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 March 28, 2018. 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 March 28, 2018. (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 March 28, 2018. Motion passed by unanimous vote (Disability Committee).
  • Approved the termination of disability benefits for those identified in the list presented to the Board on March 28, 2018. Motion passed by unanimous vote (Disability Committee).
  • Approved the retiree health care model which meets the 15-year solvency benchmark for the Health Care Stabilization Fund. Motion passed by unanimous vote (Health Care Committee).
  • Approved the retiree health care stipend amounts for the Medicare and non-Medicare participants as described on Page 13 of the GRS and Conduent presentation dated March 27, 2018. Motion passed by unanimous vote (Health Care Committee).
  • Approved Jan. 1, 2019 as the go-live date for the implementation of the HRA stipend model and transition away from the group health plan model. Motion passed by unanimous vote (Health Care Committee).
  • Approved Mr. Desmond’s travel expenses to attend CAPP Health Part I & II meetings, June 12-15, 2018 in Chicago. Motion passed by unanimous vote (Health Care Committee).

NEXT BOARD OF TRUSTEES MEETINGS: April 24-25, 2018

Posted 4/4/2018

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



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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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