Monthly Board Report

May 2017 Monthly Board Report

OP&F WILL SEARCH FOR HEALTH CARE FIRM TO HELP WITH 2019 PLAN TRANSITION

In preparation for the 2019 health care plan year, OP&F will search for a firm to assist the organization and membership in the transition away from a self-insured model. At its March Board of Trustees meeting, OP&F announced it would change how it provides retired members health care assistance, including exiting the current sponsored group health care plan beginning Jan. 1, 2019. OP&F is finalizing a request for proposal and it will be publicly released in the coming weeks outlining the specifics of the search. OP&F anticipates that the successful firm will be in place by the end of the year so 2018 can be used to prepare for implementation of the restructuring in 2019.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (5/16/17): $15.1 billion
  End of April value: $15.1 billion
  End of March value: $14.9 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 2016 HOST (Helping Our Survivors in Transition) Experience Report that indicated five new volunteers were trained and that the total number of volunteers is now 43. The 1st Quarter 2017 Disability Experience Report was also presented to the Committee.
  • FINANCE: The Committee received the 1st Quarter 2017 Budget-to-Actual Report, the 1st Quarter 2017 Travel Expense Review and discussed the status of past due employers.
  • HEALTH CARE: Representatives from UnitedHealthcare attended the meeting to present a review of the retiree medical and prescription drug plan performance for 2016. OP&F staff presented the Health Care Stabilization Fund report for the first quarter of 2017. OP&F’s independent actuaries presented recommended options for health care plan contributions and projected costs for 2018.
  • INVESTMENT: In addition to the monthly portfolio performance update, the Committee received an asset allocation analysis presentation from Wilshire Associates. Wilshire also presented the Investment Performance Report for the periods ending March 31. The Townsend Group presented the Real Estate Performance Report for the periods ending Dec. 31, 2016.

    Motions:
    At its May 2017 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved Townsend’s recommendation to commit up to $100 million to the IFM Global Infrastructure Fund. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s recommendation to commit up to $50 million to the ACM Fund II. Motion passed by unanimous vote (Investment Committee).
  • Approved Investment staff’s and TorreyCove’s recommendation to commit up to $30 million to the Glendon Opportunities Fund II, LP. Motion passed by a vote of 7-0 with one abstention (Investment Committee).
  • Approved Investment staff’s and TorreyCove’s recommendation to commit up to $24 million to Altaris Health Partners IV, LP and up to $6 million to Altaris Constellation Partners IV, LP. Motion passed by unanimous vote (Investment Committee).
  • Accepted the investment manager rating recommendations for Brookfield, Forest Investment Associates, Global Forest Partners and Hancock Timber. Motion passed by unanimous vote (Investment Committee).
  • Accepted Investment Staff’s manager rating recommendation for PIMCO (Solution IV Core Fixed Income). 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 May 17, 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 May 17, 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 May 17, 2017. 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 May 17, 2017. Motion passed by unanimous vote (Disability Committee).
  • Approved the Finance Committee Charter as presented at the May 16, 2017 Finance Committee Meeting. Motion passed by unanimous vote (Finance Committee).

NEXT BOARD OF TRUSTEES MEETINGS: June 27-28, 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.

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Board Members and Committee Assignments

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