Monthly Board Report

September 2014 Monthly Board Report

WITNER ANNOUNCES RETIREMENT; OPENS ACTIVE FIRE POSITION ON BOARD
During the September OP&F Board of Trustees meeting, David Witner, who has served on the Board since 2010, announced his retirement, therefore vacating his active firefighter seat on the Board effective Oct. 31. Witner, a Lieutenant with the Cuyahoga Falls Fire Department, served as the Chairman of the Board of Trustees in 2013-14. He has been with the fire department in Cuyahoga Falls since 1986.

Witner’s departure leaves a vacancy on the OP&F Board of Trustees that it is expected to be filled in November. The Board’s Nominating Committee will be accepting applications for the vacancy until Oct. 1, and will interview candidates on Oct.20. The Board was expected to select an active fire representative to fill the vacancy and appoint a new trustee on Oct. 28. The new trustee will serve on the Board until the spring of 2015, when an election will take place for a four-year term.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (9/16): $14.5 billion
  End of August value: $14.7 billion
  End of July value: $14.4 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 memorandums recapping the results of a mandatory medical reexamination and the reporting of potential disability fraud. Staff presented the Committee/Board information updating the annual earnings statement project for this year and the associated deadlines. The Executive Director informed the Committee/Board of the resignation of a doctor who currently serves on the Disability Evaluation Panel.
  • BENEFITS: The Benefits Committee reviewed and discussed the flow chart for determining and granting the Ohio Public Safety Officers Death Benefit Fund.
  • HEALTH CARE: Items discussed and reviewed included an overview of the Health Care Stabilization Fund for the 2nd quarter of 2014, and the 2015 Member’s Guide to Health Care Coverage and the Annual Change Period presentation that will be used during October’s seminars. Also discussed was a report from UnitedHealthcare on the 2015 rates for the AARP supplemental Medicare coverage subsidies.
  • INVESTMENT: In addition to the monthly portfolio update, the Committee/Board received reports on the 2nd quarter 2014 real estate performance and discussed plans for the transition of funds that have been managed by Thornburg. Other reports reviewed included the Manager Compliance Report, the Securities Lending and Proxy Voting Reports and the Private Markets and Timberland Reports, which were all through periods ending June 30, 2014.
  • FINANCE: The Committee received and discussed the 2nd quarter Budget-to-Actual Report, 2nd quarter budget transfers and the 2nd quarter Travel Expense Review. Also reviewed and discussed was an updated review of past-due employers.
Motions:
At its September 2014 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved staff’s recommended manager ratings for AQR and the Bridgewater Global Macro mandate as recommended by staff. Motion passed by unanimous vote (Investment Committee).
  • Approved the revisions to the Russell Portable Alpha Overlay Guidelines as recommended by staff. Motion passed by unanimous vote (Investment Committee).
  • Approved the Committee recommendations for the initial determination of disability for the 13 members as identified in the initial determination hearings list presented to the Board on Sept. 17, 2014. 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 five members identified in the appeals list presented to the Board on Sept. 17, 2014. 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. 17, 2014. Motion passed by unanimous vote (Disability Committee).
  • Required that the disability benefit recipients identified in staff’s memorandum dated Sept. 17, 2014, undergo a medical examination for the reasons outlined in that memorandum. Motion passed by unanimous vote (Disability Committee).
  • Approved the Administration Rules as outlined in staff’s memorandum dated Sept. 17, 2014, and authorizes the required filing of the rules with the proper agencies. Motion passed by unanimous vote (Benefits Committee).).

Next Board of Trustees Meetings: October 28-29, 2014

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.

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Board Members and Committee Assignments

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