Monthly Board Report

Board Report, April 2024

Alight examines health care stipend rate for 2025 plan year

An actuarial analysis by OP&F’s health care partner, Alight Retiree Health Solutions, shows that the current health care stipend levels available to OP&F retirees remains appropriate for the 2025 plan year. Alight also explained that in 2025, those enrolled in the Medicare Part D prescription drug plan will now have a $2,000 annual out-of-pocket maximum.

Federal support, coupled with certain drug subsidies, will assist both Medicare eligible and pre-Medicare members with expenses for next year. OP&F’s partnership with Alight has been extremely successful in preserving health care dollars for those who are retired as well as for those close to retirement.

Deal, Drum uncontested in active fire, retired police elections

While three seats on the OP&F Board of Trustees are eligible for re-election this spring, two incumbent members of the Board are uncontested and will begin new four-year terms in June.

John Deal (Cincinnati Fire) will continue to represent active firefighters and serve his second term on the Board. Mark Drum (Delaware Police, retired) will again be retired police representative to the Board and also serve his second term.

Active police election includes candidates from Parma Heights, Akron

Two candidates will vie for the open Board of Trustee position for an active police officer in this spring’s election. Tanya Czack from Parma Heights and Clay Cozart from Akron will be the candidates. Ballots will be mailed in early May to eligible active police members with the election results announced by May 29. The four year term for the election winner will begin June 3.

Czack serves as the chief of police for Parma Heights and is currently vice chair of the OP&F Board of Trustees. Czack has been a sworn officer since 1999 and is a certified instructor with the Ohio Peace Officer’s Training Academy. She was first elected to the Board in 2020.

Cozart has been with the Akron Police Department for 28 years and currently serves as a detective. He has been on the Fraternal Order of Police Akron Lodge 7 executive board for 20 years, including four years as president.

OP&F headquarters among regional building of the year winners

OP&F headquarters at 140 East Town Street was announced as one of the North Central Region of the Building Owners and Managers Association (BOMA) International six commercial properties that have won the regional competition for The Outstanding Building of the Year (TOBY) Award. The North Central Region includes Illinois, Indiana, Kentucky, Michigan, and Ohio. OP&F headquarters at 140 East Town Street won in the 100,000 to 249,999 Square Feet category.


  • As of 4/23: $17.8 billion
  • End of March: $18.1 billion
  • End of February: $17.8 billion
  • Board of Trustees Committee Notes

    (Motions voted on by the Board are listed separately)

    DISABILITY: The Committee conducted its scheduled reviews and hearings.

    INVESTMENT: In addition to a review of the portfolio value and year-to-date performance, staff provided the Semi-Annual Proxy Voting Reports for periods ending Dec. 31, 2023.

    HEALTH CARE: OP&F health care partner, Alight, presented the 2023 Health Care Plan Year in review. Staff provided the 2023 Ohio Retirement Study Council Health Care Report and the fourth quarter Health Care Stabilization Fund Report to the Board for their review.


    At its April 2024 meeting, the OP&F Board of Trustees approved the following motions:

  • The Board approved staff’s and Aksia’s recommendation to commit up to $50 million to Crescent European Specialty Lending Fund III - Unlevered. Motion passed by unanimous vote (Investment Committee).
  • The Board approved staff’s and Aksia’s recommended changes to the Ohio Police & Fire Pension Fund Private Credit Investment Policy and Guidelines. Motion passed by unanimous vote (Investment Committee).
  • The Board approved staff’s and Aksia’s recommendation to commit up to $35 million to Tenex Capital Management IV, LP. Motion passed by unanimous vote (Investment Committee).
  • The Board approved staff and Wilshire’s investment manager rating recommendations for Dimensional Fund Advisors and Loomis Sayles High Yield mandate. Motion passed by unanimous vote (Investment Committee).
  • The Board approved the Amended Investment Policy & Guidelines. Motion passed by unanimous vote with one abstention (Investment Committee).
  • The Board approved the following from the Disability Committee. Motions passed by unanimous vote:
    • Approved 14 Initial Determinations of Disability and two Reconsideration Hearings.
      • Approved nine Appeal Hearings.
        • Approved five Death Benefit Fund applications.
          • Approved the Disability Reporting Waivers list.
            • Approved a member’s request for a pre-employment physical be accepted and they be entitled to statutory presumptions.
              • Approved a request from a member to be granted a stipend payment for 2023.

              NEXT BOARD OF TRUSTEES MEETINGS: June 18-19, 2024

    Previous Reports

    Monthly Report For June 2024
    - Posted June 27, 2024
    Monthly Report For April 2024
    - Posted May 02, 2024
    Monthly Report For March 2024
    - Posted March 13, 2024
    Monthly Report for January 2024
    - Posted January 31, 2024
    Monthly Report for December 2023
    - Posted January 11, 2024
    Monthly Report for November 2023
    - Posted November 13, 2023
    Monthly Report for September 2023
    - Posted October 06, 2023
    Monthly Report for August 2023
    - Posted September 18, 2023
    Monthly Report for June 2023
    - Posted July 09, 2023
    Monthly Report for May 2023
    - Posted June 01, 2023
    Monthly Report for April 2023
    - Posted May 03, 2023
    Monthly Report for February 2023
    - Posted March 20, 2023
    Monthly Report for January 2023
    - Posted February 01, 2023
    Monthly Report for December 2022
    - Posted December 29, 2022
    Monthly Report for October 2022
    - Posted November 04, 2022
    Monthly Report for September 2022
    - Posted October 07, 2022
    Monthly Report for August 2022
    - Posted September 09, 2022
    Monthly Report for June 2022
    - Posted July 06, 2022
    Monthly Report for May 2022
    - Posted June 02, 2022
    Monthly Report for April 2022
    - Posted May 05, 2022
    Monthly Report for March 2022
    - Posted April 19, 2022
    Monthly Report for February 2022
    - Posted March 15, 2022
    Monthly Report for January 2022
    - Posted February 02, 2022
    Monthly Report for December 2021
    - Posted December 08, 2021
    Monthly Report for October 2021
    - Posted November 02, 2021
    Monthly Report for September 2021
    - Posted October 07, 2021
    Monthly Report for August 2021
    - Posted September 01, 2021
    Monthly Report for June 2021
    - Posted July 12, 2021
    Monthly Report for May 2021
    - Posted June 02, 2021
    Monthly Report for April 2021
    - Posted May 24, 2021
    Monthly Report for March 2021
    - Posted April 08, 2021
    Monthly Report for February 2021
    - Posted March 04, 2021
    Monthly Report for January 2021
    - Posted February 04, 2021

    Board of Trustee Elections

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    Board and Committee Meetings

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    Board Members and Committee Assignments

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