Monthly Board Report

October 2016 Monthly Board Report

REPORT SHOWS OP&F AGAIN MEETS STATE FUNDING REQUIREMENT

OP&F’s actuarial consultants have reported that the recently completed valuation report shows that the system continues to meet the state’s funding requirement. The report, which includes data through Jan. 1, 2016, shows a 29 year funding period. Ohio requires a 30 year funding period. The funding ratio for OP&F stands at 71.3 percent. The previous year’s valuation report showed OP&F with a 30 year funding period and a funding ratio of 70.8 percent. The report from Buck Consultants also confirmed that the Deferred Retirement Option Plan (DROP) continues to work as intended and requires no alterations to keep it cost-neutral to OP&F.

FALL BOARD RETREAT SCHEDULED FOR NOV. 1

OP&F’s Board of Trustees will meet Tuesday, Nov. 1 for a one-day retreat at the Blackwell Inn and Conference Center on the campus of Ohio State University. The meeting will be open to the public and agenda topics include pension and health care funding, long-term health care challenges facing the organization and the 2017 OP&F budget.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (10/17/16): $14.2 billion
  End of September value: $14.4 billion
  End of August value: $14.4 billion

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

  • DISABILITY: In addition to the regularly scheduled hearings, the Committee received the Disability Experience Report for the 3rd quarter of 2016. Staff also updated the Committee on the number of Annual Earnings Statements that are outstanding.
  • BENEFITS: The Committee received the Deferred Retirement Option Plan Experience Report for the 3rd quarter of 2016. The Committee also discussed the recently concluded Annual Change Period seminars, noting that attendance was more than 600.
  • FINANCE: The Committee reviewed and discussed proposed 2017 department budgets and the 2017-19 Capital Budget during its meeting.
  • ADMINISTRATION/AUDIT: The Committee received updates on ongoing projects involving the Business and Technology Solutions Department and received the Internal Audit status report.
  • INVESTMENT: In addition to the monthly portfolio update, the Board received the Semi-Annual Securities Lending Report and the Semi-Annual Proxy Voting Report, both reports covered the first half of 2016.

    Motions:
    At its October 2016 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved Staff and Wilshire’s recommendation to select Loomis Sayles and Prudential to manage U.S. Levered Core Bond mandates. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s recommendation to commit up to $50 million to the Brookfield Premier Fund. Motion passed by unanimous vote (Investment Committee).
  • Approved the manager ratings for OP&F’s Real Estate Managers as recommended by the Townsend Group. Motion passed by unanimous vote (Investment Committee).
  • Approved Staff’s and TorreyCove’s recommendation to commit up to $40 million to MBK Fund IV, L.P. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s recommended manager ratings for Dimensional Fund Advisors, Franklin Templeton, Pyramis Global and Bridgewater GIPS. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s recommendation to change the policy index for Loomis Sayles and MacKay Shields (Opportunistic) from the CSFB High Yield Index Developed Countries Only to the Merrill Lynch Yield Master II Constrained Index. 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 Oct. 19, 2016. 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 Oct. 19, 2016. 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 Oct. 19 2016. Motion passed by unanimous vote with the exception of the vote for member #2, which passed by a vote of 7-0 with one abstention (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 Oct. 19, 2016. Motion passed by unanimous vote (Disability Committee).
  • Approved the Administrative Rules outlined in staff’s memorandum dated Oct. 18, 2016 and authorized the required filing of the rules with the proper agencies. Motion passed by unanimous vote (Benefits Committee).
  • Approved the Administrative Rules outlined in staff’s memorandum dated Oct. 18, 2016 and authorized the required filing of the rules with the proper agencies. Motion passed by unanimous vote (Benefits Committee).
  • Approved the 2016 OP&F Communications Plan for submission to the Ohio Retirement Study Council in the form presented on Oct. 18, 2016. Motion passed by unanimous vote (Administration/Audit Committee).

BOARD OF TRUSTEES RETREAT: Nov. 1, 2016

NEXT BOARD OF TRUSTEES MEETINGS: Nov. 15-16, 2016

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

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Board Members and Committee Assignments

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