Monthly Board Report

September 2013 Monthly Board Report

RETIREE HEALTH CARE CHANGE PERIOD RUNS THROUGHOUT OCTOBER
The 2014 Annual Change Period runs from Oct. 1-31 and allows current participants in the OP&F health care plans to verify their personal information, apply for the health care discount, and enroll or waive the dental and vision plans. As in past years, UnitedHealthcare is sponsoring presentations at six locations around the state to answer questions about health care options available to members.

2014 BUDGET TO BE PRESENTED TO ORSC FOR REVIEW
OP&F management continues to formulate its 2014 operating budget and will deliver a draft to the Ohio Retirement Study Council (ORSC) in October. Executive Director John Gallagher is scheduled to personally present the budget during the November ORSC meeting. The final budget will be presented to the OP&F Board of Trustees for approval in December.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (9/24): $13.5 billion
  End of August value: $13.1 billion
  End of July value: $13.3 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 reviewed new recommended forms using updated calculation methods. Also presented was the updated version of the Disability Program Manual, which becomes effective Oct. 1, 2013. This publication will be forwarded to the Ohio Retirement Study Council along with additional information on OP&F’s disability benefit program. The Committee/Board heard an update on the Annual Earnings Statements and discussed mileage reimbursements for Helping Our Survivors in Transition volunteers.
  • BENEFITS: In addition to reviewing proposed administrative rule changes and updates, the Committee received its monthly and quarterly statistical breakdown of the Deferred Retirement Option Plan and asked staff to review health care claims between UnitedHealthcare and the Ohio Bureau of Workers’ Compensation.
  • INVESTMENT: In addition to the monthly portfolio update, the Committee/Board received the Real Estate Performance Review for the 2nd quarter of 2013. Several reports were provided or discussed during the meeting and included the quarterly Manager Compliance Report; the Semi-Annual Securities Lending Report; the Semi-Annual Proxy Voting Report; the Net of Fees Performance Report; the Privates Market Report and the Timberland Report (each of these report were for the period ending June 30, 2013).

  • HEALTH CARE: The Committee/Board discussed with the UnitedHealthcare representatives issues surrounding the transition to OptumRx as the new pharmacy benefit manager for the retiree health care plan. UnitedHealthcare representatives also presented 2014 Annual Change Period materials and the 2014 AARP Medicare Supplemental rate information. The Committee/Board requested staff to research Health Savings Accounts for future discussion and also discussed the implementation of the Affordable Care Act and its effect on OP&F’s health care plan.
  • FINANCE: The Finance Committee discussed 2nd quarter 2013 budget transfers and also reviewed the 2nd Quarter 2013 Budget-to-Actual Report and the 2nd Quarter Travel Expense Review. The Committee also received a report and discussed the status of past-due employers.

 

Motions:
At its September 2013 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved the revised Timberland Investment Policy as recommended by staff. Motion passed by unanimous vote (Investment Committee).
  • Approved the manager ratings for AQR and Bridgewater Global Macro as recommended by staff. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s recommendation for the High Yield Manager Guidelines. Motion passed by unanimous vote (Investment Committee).
  • Approved the Committee recommendations for the initial determination of disability for the 21 members as identified in the initial determination hearings list presented to the Board on Sept. 25, 2013. Motion passed by unanimous vote (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 Sept. 25, 2013. Motion passed by unanimous vote (Disability Committee).
  • Approved the recommendations for Death Fund benefits for the members identified. Motion passed unanimously (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. 25, 2013. Motion passed by unanimous vote (Disability Committee).
  • Approved amended language in Administrative Rule 742-3-05 as outlined in staff’s memorandum dated Sept. 24, 2013, and authorizes the submission of this language to ORSC. If ORSC has no comments, the amended Rule will be filed with JCARR. Motion passed by unanimous vote (Disability Committee).
  • Approved four travel motions as presented to the Board on Aug. 28. 2013. Motion passed by unanimous vote (Health Care Committee).
  • Approved the changes to the Administrative Rules as outlined in staff’s memorandum dated Sept. 24, 2013, and authorizes the required filing of the rules with the proper agencies. Motion passed by unanimous vote (Benefits Committee).


Next Board of Trustees Meetings: Oct. 22-23, 2013

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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