Monthly Board Report

Danish named General Counsel for OP&F

John Danish, an experienced attorney, advisor and administrator with decades of practice in state and local government, has been named General Counsel for the Ohio Police & Fire Pension Fund (OP&F), announced Mary Beth Foley, the retirement system’s Executive Director.

Before joining OP&F, Danish served as Chief Deputy Legal Counsel for Governor Mike DeWine in the Office of the Governor. He previously served as the Director of Outside Counsel for former Attorney General Mike DeWine in the Office of the Ohio Attorney General. Prior to this role, in the Attorney General’s office, John was the first attorney to serve as Pension Counsel, representing each of the five public pension systems in Ohio.

Danish began his extensive legal career with the City of Dayton, where he served in a variety of roles that included litigation counsel, Chief Trial Counsel, Deputy City Attorney and ultimately as City Attorney. He is a graduate of Wittenberg University and the Case Western Reserve University School of Law.

OP&F hosts flag raising ceremony on 9/11 anniversary

OP&F will hold its 4th annual flag raising ceremony with the Boy Scouts of America on Saturday, Sept. 11 at 9 a.m. The scouts will formally lower the old United States and Ohio flags currently on display at the OP&F Memorial Park and will raise new flags. The OP&F Memorial Park is located at 140 E. Town Street in Columbus, adjacent to OP&F headquarters. All are welcome to attend this event.

Health care stipend can be used for Medicare Part A premiums

Prior to 2019, when OP&F sponsored a self-insured health care plan for retirees, those that did not qualify for free Medicare Part A were able to enroll in the OP&F plan. Now that OP&F has gone to a stipend-based plan to assist retirees with health care expenses that option no longer exists. However, the stipend money can be used for Medicare Part A premiums, if necessary.

Very few OP&F retirees do not qualify for free Medicare Part A. The OP&F Board of Trustees is aware of this group and this expense. Specifically, trustee Marco Miller (retired, Columbus Fire) has been speaking to retirees to explain the Board’s decision and the options retirees have. The Board regularly reviews the retiree health care plan and will continue to do so in order to provide the most support possible while continuing with the primary responsibility of paying pension benefits. At this time, the Board is not considering a provision to pay Medicare premiums beyond the Part B reimbursement that has been provided for many years.

PORTFOLIO UPDATE

OP&F’s investment portfolio value:

  • Current value (8/24/21): $18.5 billion
  • End of July value: $18.6 billion
  • End of June value: $18.4 billion

Board of Trustees Committee Notes

(Motions voted on by the Board are listed separately)

  • DISABILITY: The Committee conducted its scheduled initial determination and appeal hearings and also received the Disability Experience Report for the 2nd quarter of 2021.
  • BENEFITS: The Deferred Retirement Option Plan Experience Report for the 2nd quarter of 2021 was presented to the Committee for review and discussion.
  • INVESTMENT: Staff discussed the month-end portfolio values, significant cash movements and investment performance. Wilshire Associates, the Board’s general investment consultant, presented the Investment Performance Report for the periods ending on June 30, 2021, as well as the Private Markets and Private Credit Program Analysis through March 31, 2021. Real Estate consultant, Townsend, discussed the real estate and real assets performance and portfolios for periods ending March 31, 2021. Staff presented the 2020 Private Investments Status report and also discussed the idea of a private markets secondary sale

Motions:

At its August 2021 meeting, the OP&F Board of Trustees approved the following motions:

  • Approved staff’s and Wilshire’s investment manager rating recommendations for Bridgewater Associates, Macquarie Investment Management, Harvest Capital Advisors, Salient Partners, Tortoise Capital Advisors and the MacKay Shields Opportunistic High Yield mandate. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s recommendations relating to the 2021 Real Estate Open-End Fund Rebalancing review. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s recommendation to adopt the 2021 Real Estate Investment Plan: Mid-Year Update. Motion passed by unanimous vote (Investment Committee).
  • Approved Townsend’s recommendation to adopt the 2021 Real Assets Investment Plan: Mid-Year Update. Motion passed by unanimous vote (Investment Committee).
  • Approved Staff’s rating recommendations for OP&F’s private market managers. Motion passed 8-0, with one abstention (Investment Committee).
  • Approved the five-year Administrative Rule outline in staff’s memorandum dated June 29, 2021. Motion passed by unanimous vote (full Board).
  • Approved Staff’s recommendation to add the cost of the Fiduciary Audit awarded to Funston Advisory Services to the 2021 Operating Budget. Motion passed by unanimous vote (full Board).
  • Approved the Certificate of Authority resolution certifying the officers designated as signatories for OP&F. Motion passed by unanimous vote (full Board).
  • Approved seven Administrative Rules as outlined in staff’s memorandum dated Aug. 24, 2021. Motion passed by unanimous vote (full Board).
  • Approved the following from the Disability Committee:
    • The recommendations for the 14 Initial Determination Hearings (one hearing was postponed)
    • Approved three Death Benefit Fund cases and disapproved one Death Benefit Fund case
    • The recommendations for three Appeal Hearings
    • Waivers for mandatory medical evaluations and future filing of annual earnings statements for the members listed.

NEXT BOARD OF TRUSTEES MEETINGS: Sept. 28-29, 2021

Posted 9/1/2021

Previous Reports

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
Monthly Report for December 2020
- Posted December 09, 2020
Monthy Report For October 2020
- Posted October 28, 2020
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

OP&F encourages you to come to our monthly board meetings. Board agendas and minutes can be viewed by clicking the link below.

Board Members and Committee Assignments

Please click the links below to view Committee Assignments and Board Members.