Board Report, August 2026
DROP distributions paused between Sept. 17 through Oct. 16
OP&F members who are enrolled in the Deferred Retirement Option Plan (DROP) will not be able to receive distributions from their accruals from Sept. 17 through Oct. 16 this year due to the implementation of OP&F’s new pension administration system. Beginning Oct. 1, distribution requests will be processed through the new system.
Pre-recorded pre-retirement webinar offered this year
This year's pre-retirement series will be offered as a pre-recorded webinar rather than a live presentation. All the information included is accurate and up to date. OP&F encourages members to review the information at their convenience. OP&F appreciates members’ understanding as preparations continue for the transition to a new pension administration system in October.
PORTFOLIO UPDATE
As of 8/25: $22.6 billion
End of July: $22.2 billion
End of June: $22.5 billion
Board of Trustees Committee Notes
(Motions voted on by the Board are listed separately)
DISABILITY: The Committee conducted its scheduled reviews and hearings.
HEALTH CARE: OP&F’s retiree health care partner, Alight, presented the 2026 updates and the 2027 market updates and enrollment period planning. Alight also presented the Events in Transition information and member communications. Staff provided the Board with the second quarter 2026 Health Care Stabilization Report.
INVESTMENT: Staff presented the monthly portfolio update. Wilshire presented the Investment Performance Report for the second quarter of 2026 and the 2026 Asset Class Structure Review. Townsend presented the 2025 Performance and Portfolio Reviews for both Real Estate and Real Assets.
Motions:
At its August 2026 meeting, the OP&F Board of Trustees approved the following motions:
The Board approved Townsend’s recommendation to commit up to $50 million to Chicago Pacific Founders Healthcare Real Estate Fund IV and commit up to $25 million to the fund’s no-fee sidecar vehicle. Motion passed by unanimous vote (Investment Committee).
The Board approved the following from the Disability Committee. Motions passed by unanimous vote:
Approved recommendations for 17 Initial Determinations of Disability Hearings.
Approved recommendations for four Appeal Hearings.
Approved recommendations for five Death Benefit Fund applications.
Approved the Disability Reporting Waivers list.
Approved the recommendation for excusable neglect for the Health Care Stipend of five members.
Approved a recommendation for one Special Disability Case.
Next Board of Trustees Meetings: Sept. 29-30, 2026