Monthly Board Report

November 2015 Monthly Board Report

BOARD OF TRUSTEES APPROVES 2016 OPERATING BUDGET

The 2016 budget process concluded when the Ohio Police & Fire Pension Fund (OP&F) Board of Trustees approved the operating budget for the coming year during its meeting on Nov. 18. The total operating budget of $65.91 million is just 0.8 percent above the 2015 budget. Also approved is the rolling three-year capital improvements budget for the years 2016-18. This budget of $4.6 million includes capital improvements to the offices of OP&F, equipment, computer hardware and software.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (11/17): $13.9 billion
  End of September value: $14.1 billion
  End of August value: $13.6 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 Disability Committee received a report detailing members who have not submitted an annual earnings statement. The Committee also discussed ideas to improve the process for preparing disability case files.
  • HEALTH CARE: The Health Care Committee received an overview of the Health Care Stabilization Fund for the 3rd quarter of 2015. UnitedHealthcare representatives provided information on Annual Change Period participation, changes to the Prescription Drug List as of Jan. 1, 2016 and the move from the current specialty pharmacy to BriovaRx. Also discussed was the topic of rising psychological disability claims among public safety plans which was a topic at the recent National Conference on Public Employee Retirement Systems meetings.
  • FINANCE:  The Committee received the 2016 Total Plan Assets Budget for review and discussion.
  • INVESTMENT: In addition to the monthly portfolio update, the Board received and discussed the 3rd Quarter Investment Performance Review, presented by Wilshire Associates.

 

Motions:
At its November 2015 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved the Real Estate Strategic Plan as recommended by the Townsend Group. Motion passed by unanimous vote (Investment Committee).
  • Approved Investment Staff’s and TorreyCove’s recommendation to invest up to $50 million in Advent International GPE VIII. Motion passed by unanimous vote (Investment Committee).
  • Approved Investment Staff’s recommended manager ratings for State Street Global Advisors and Western Asset Short Term. Motion passed by unanimous vote (Investment Committee).
  • Approved the travel expenses for three Board members to conduct a due diligence visit to Bridgewater Associates. 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 Nov. 18, 2015. Motion passed by unanimous vote (Disability Committee).
  • Approved the recommendation for the appeal hearing for the members identified in the appeals hearings list presented to the Board on Nov. 18, 2015. 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’s recommendation for dependent disabled child benefits for the member’s requesting these benefits. 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 Sept. 30, 2015. Motion passed by unanimous vote (Disability Committee).
  • Approved the 2016 Annual Budget in the form submitted to the Board of Trustees on November 18, 2015. Motion passed by unanimous vote (Full Board).
  • Approved the 2015 OP&F Communications Plan for submission to the Ohio Retirement Study Council in the form presented on Nov. 18, 2015. Motion passed by unanimous vote (Full Board).
  • Approved a renewal of the administrative services agreement with UnitedHealthcare on terms favorable and protective to OP&F. Motion passed by unanimous vote (Full Board).

Next Board of Trustees Meetings: Dec. 15-16, 2015

Previous Reports

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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