Monthly Board Report

Board Report, January 2024

OP&F’s “Push to Paperless” results in efficiency of employer reporting

In June 2023, OP&F began a campaign to transition all employer partners to paperless reporting and payment of contributions due to the pension fund by the end of the year. While most OP&F employers were already submitting reports and payments electronically, a few are still in the process of completing the transition. We expect near 100 percent compliance in the near future.

By November 2023, 131 of the 139 employers who were identified had transitioned to paperless reporting and payment. By the end of 2023, the final two employers were scheduled to complete the process. OP&F appreciates the cooperation of our employers during this campaign. As of the end of January, OP&F anticipates no employer penalties for late reporting.

PORTFOLIO UPDATE

  • As of 1/24: $17.4 billion
  • End of December: $17.7 billion
  • End of November: $17.3 billion
  • Board of Trustees Committee Notes

    (Motions voted on by the Board are listed separately)

    DISABILITY: The Committee conducted its scheduled reviews and appeal hearings.

    INVESTMENT: In addition to a review and discussion of the investment portfolio, the Townsend Group presented the performance and portfolio review for the real estate and real assets asset classes for the 3rd quarter of 2023.

    Motions:

    At its January 2023 meeting, the OP&F Board of Trustees approved the following motions:

  • The Board approved Townsend’s recommendation for the 2024 Real Estate Investment Plan. Motion passed by unanimous vote (Investment Committee).
  • The Board approved Townsend’s recommendation for the 2024 Real Assets Investment Plan. Motion passed by unanimous vote (Investment Committee).
  • The Board approved staff and Aksia’s recommendation to commit up to $10 million to Spark Capital VIII and up to $20 million to Spark Growth Capital V. Motion passed by unanimous vote (Investment Committee).
  • The Board approved Wilshire’s recommendation to adopt the benchmark and transition implementation plan as presented. Motion passed by unanimous vote (Investment Committee).
  • The Board approved staff and Wilshire’s recommendation to accept the Portable Alpha Program Structure as outlined and discussed. Motion passed by unanimous vote (Investment Committee).
  • The Board approved staff and Aksia’s recommendation to commit up to $30 million to Clearlake Capital Partners VIII. Motion passed by unanimous vote. (Investment Committee).
  • The Board approved staff and Aksia’s recommendation to commit up to $50 million to Cerberus Levered Loan Opportunities Fund V. Motion passed by unanimous vote (Investment Committee).
  • The Board approved a motion to accept the Nominating Petitions and Certificate of Eligibility for the upcoming elections of the police employee, firefighter employee and police officer retiree members of the OP&F Board of Trustees. Motion passed by unanimous vote.
  • The Board approved the following from the Disability Committee. Motions passed by unanimous vote:
    • Approved 14 Initial Determinations of Disability.
      • Approved six appeal hearings.
        • Approved six Death Benefit Fund applications.
          • Approved the Disability Reporting Waivers list.

          NEXT BOARD OF TRUSTEES MEETINGS: March 5-6, 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

    Information on Board of Trustees elections can be viewed by clicking the link below.

    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.