Monthly Board Report

RETIREE HEALTH CARE TRANSITION MOVING FORWARD

September will be a busy month for OP&F, its health care partner, Aon and retired members. Aon will mail enrollment information to OP&F retirees beginning Sept. 4. Open enrollment dates and deadlines will be included in the mailing, both for OP&F retirees who are in Medicare and pre-Medicare retirees.

Additionally, OP&F and Aon will sponsor 23 health care meetings around Ohio in September to explain and discuss the OP&F health care stipend and the process of enrolling in a new plan for 2019. To register for one of these meetings, follow the link to the Aon website from OP&F’s homepage, then select the Attend a Meeting link in the upper right corner of the page.

OP&F’s self-insured group health care plan for retirees will end Dec. 31, 2018. In its place, OP&F will provide a stipend to eligible retirees help pay the cost of a new plan of their choice from the Aon Health Exchange. Aon will assist the retirees in choosing a plan that best fits the needs of each individual.

Webinars available for those unable to attend health care meeting in person

If you’re unable to attend a meeting in person, consider joining an online webinar. Please plan to join the webinar 15 minutes before start time, and simply follow these steps:

1. Visit webex.com
2. Select Join from the upper right area of the screen
3. Enter the meeting number, your name and email
4. If a meeting password is requested, enter OPF

To access the webinar conference line:
• Call: 866-692-5721
• When prompted, enter the participant passcode: 254 367 24.
• Please do not select “Join Video” when prompted.

PORTFOLIO UPDATE
OP&F's investment portfolio value:

Board of Trustees Committee Notes
(Motions voted on by the Board are listed separately)

• DISABILITY: In addition to the regularly scheduled hearings and appeals, the Committee reviewed the Disability Exam Satisfaction Survey results from the first half of 2018, and discussed the 2nd quarter Disability Experience Report.
• BENEFITS: The Benefits Committee discussed the 2nd quarter Deferred Retirement Option Plan (DROP) Experience Report.
• ADMINISTRATION/AUDIT: The Committee received updates on projects in the Business and Technology Solutions Department and also received a report on Internal Audit Activity through Aug. 6, 2018.
• HEALTH CARE: The Board received an update on the 2019 retiree health care transition, including the September meeting schedule and upcoming timeline of events. The Board also answered questions from members in attendance.
• GOVERNMENT AFFAIRS AND POLICY: The Committee heard updates on and discussed several pending bills at the Ohio Statehouse concerning OP&F and state pension business.
• INVESTMENT: In addition to the monthly portfolio performance update, the Board received reports on the 2nd quarter investment performance and 1st quarter performance reports on both the real estate and real assets portfolios. The Board and staff also discussed the 2017 Private Investments Audit Report.
• FINANCE: The Committee was presented the 2nd quarter Budget-to-Actual Report and also the Review of Past Due Employers.
  

Motions:

At its August 2018 meeting, the OP&F Board of Trustees approved the following motions:

• Approved the investment manager rating recommendations for Macquarie Investment Management, Harvest Capital Advisors, Salient Partners, Tortoise Capital Advisors and MacKay Shields (Opportunistic High Yield). Motion passed by unanimous vote (Investment Committee).
• Approved staff’s revised Investment Manager Guidelines for Harding Loevner International Equity. Motion passed by unanimous vote (Investment Committee).
• Approved staff’s rating recommendations for OP&F’s private markets managers. 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 Aug. 21, 2018. 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 Aug. 21, 2018. Motion passed by unanimous vote, with the exception of one abstention in the votes for member #3 and member #4 (Disability Committee).
• Approved the Committee recommendation for reconsideration for the members identified in the reconsideration hearings list. 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 Aug. 21, 2018. Motion passed by unanimous vote (Disability Committee).
• Approved the Administrative Rules outlined in staff’s memorandum dated Aug. 21, 2018, and authorizes the required filing of the rules with the proper agencies. Motion passed by unanimous vote (Benefit Committee).
• Approved the motion to pre-approve trustee travel expenses as outlined in staff’s memorandum dated Aug. 21, 2018. Motion passed by unanimous vote (Finance Committee).
  

  NEXT BOARD OF TRUSTEES MEETINGS SEPT. 25-26, 2018

  Posted 8/29/2018