Monthly Board Report

Testimony scheduled for HB 512

Testimony is scheduled to begin March 9 for Ohio House Bill 512, which was introduced in December. In January, the legislation was assigned to the House Insurance Committee for consideration. The bill, co-sponsored by Representatives Cindy Abrams and Brian Baldridge, aims to update the employer contribution rates used to fund pensions for OP&F members. Employer contribution rates have not changed since 1986.

If passed, HB 512 will increase the contributions from fire employers by 2.5 percent. For police employers, the increase would be 7.0 percent. The increases would be phased in over a five year period.

OP&F is seeking an increase to improve its long-term funding outlook. While the current financial outlook is stable, the change is meant to protect pensions for future retirees. Pressures like increased early retirements, difficulty recruiting first responders (which limits payroll growth) coupled with lower capital market assumptions, are expected to create future challenges.

The bill has the support of the OP&F Board of Trustees along with the Fraternal Order of Police of Ohio and the Ohio Association of Professional Firefighters.


OP&F’s investment portfolio value:

  • Current value (2/22/22): $18.67 billion
  • End of January value: $19.02 billion
  • End of December value: $19.44 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.
  • FINANCE: The Finance Committee reviewed the December 2021 month end financial statements.
  • INVESTMENT: Staff discussed the month-end portfolio values, significant cash movements and investment performance. OP&F consultant Wilshire, discussed their market assumptions and expected returns for the OP&F portfolio. Wilshire also presented the Investment Performance Report for periods ended Dec. 31, 2021 as well as the Private Equity & Private Credit Program Analysis for periods ended Sept. 30, 2021.


At its February 2022 meeting, the OP&F Board of Trustees approved the following motions:

  • Approved staff’s recommended manager ratings for Harvest, Salient, Tortoise, Causeway, and for the PGIM and Loomis Sayles core fixed income mandates. Motion passed by unanimous vote(Investment Committee).
  • Approved staff’s and Wilshire’s recommendation for a capital commitment of up to $50 million to Proterra Credit Fund 2, LP. Motion passed by unanimous vote (Investment Committee).
  • Approved staff’s and Aksia TorreyCove’s recommendation for a capital commitment of up to $35 million to Advent International GPE X Fund. Motion passed by unanimous vote (Investment Committee).
  • Approved travel expenses for trustees to attend the NCPERS’ Trustee Educational Seminar on May 21-22, 2022 in Washington DC. Motion passed by unanimous vote (Finance Committee).
  • Approved changing the assumed rate for investment returns to 7.5 percent, from 8.0 percent. Motion passed by unanimous vote (Full Board).
  • Approved the following from the Disability Committee:
    • The recommendations for 12 Initial Determination Hearings, one was disapproved.
    • The recommendations for the three Appeal Hearings were approved
    • The Disability Reporting Waivers List.


Posted 3/15/2022

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

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