Monthly Board Report

September 2017 Monthly Board Report

RETIREE HEALTH CARE CHANGE PERIOD BEGINS OCT. 1

The 2018 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 dental and vision coverage. UnitedHealthcare sponsors presentations at six locations around the state to answer questions about the health care options available to members in 2018. The first meeting is in Akron on Oct. 3.

OP&F will continue to sponsor a group health care option for retirees in 2018. The transition to health care exchanges will be for the 2019 plan year.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

  Current value (9/26/17): $15.3 billion
  End of August value: $15.3 billion
  End of July value: $15.3 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 reviewed a list of benefit recipients who have not submitted an Annual Earnings Statement to date. If not submitted by Dec. 8, these members may have their benefits suspended. The Committee also heard a report from staff about the mandatory electronic direct deposit of benefits, which went into effect of Aug. 1. Currently, 84 members have not signed up for direct deposit with their financial institution.
  • HEALTH CARE: The Committee received presentations from three firms on plans for assisting OP&F in its health care transition and their health care exchange models. The Board will seek additional information and input before discussing again at its October meeting.
  • INVESTMENT: In addition to the monthly portfolio performance update, staff provided the Committee with the 2nd Quarter Private Markets Report and the 2nd Quarter Real Assets Report for review. The Committee learned that an approved change to the structure of the high yield class will result in an expected savings of more than $500,000 in investment manager fees.
  • GOVERNMENT AFFAIRS AND POLICY: The Committee received a legislative update from Mr. Hewit and answered questions concerning proposed legislation.

    Motions:
    At its September 2017 meeting, the OP&F Board of Trustees voted on the following motions:
  • Approved Wilshire’s recommended asset class rebalancing ranges to be applied to OP&F’s new long-term asset allocation policy and to the interim benchmark targets during the implementation period. Motion passed by unanimous vote (Investment Committee).
  • Approved Wilshire’s recommended High Yield asset class structure. Motion passed by unanimous vote (Investment Committee).
  • Approved Wilshire’s recommended benchmark for OP&F’s Private Credit asset class. Motion passed by unanimous vote (Investment Committee).
  • Approved Staff’s recommended investment manager ratings for Bridgewater Global Macro, PENN Capital and MacKay Shields High Yield Active Core. Motion passed by unanimous vote (Investment Committee).
  • Approved Staff’s recommended investment manager ratings for OP&F direct lending managers, MC Credit Partners, GSO Capital Partners, KKR Lending Partners II and Tennenbaum Enhanced Yield Fund I. 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 Sept 27, 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 Sept. 27, 2017. 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).
  • 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. 27, 2017. Motion passed by unanimous vote (Disability Committee).
  • Approved that OP&F absorb any increase in AARP Medicare supplemental rates that may occur for the 2018 plan year. Motion passed by unanimous vote (Health Care Committee).
  • Approved several items for Mr. Hewit to take to the legislature for consideration. Motion passed by unanimous vote (Governmental Affairs and Policy Committee).
  • Approved a proposal to extend the maximum Deferred Retirement Option Plan participation period to 10 years for Mr. Hewit to take to the legislature for consideration. Motion passed by a vote of 8-1 (Governmental Affairs and Policy Committee).
  • Approved the re-adoption of the OPERS Salary Reduction Pick-Up Plan. Motion passed by unanimous vote (Personnel Committee).

NEXT BOARD OF TRUSTEES MEETINGS: Oct. 24-25 , 2017

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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