Monthly Board Report

Board Report, June 2023

OP&F works with employers to report electronically

This summer OP&F is initiating a campaign with employers to mandate paperless reporting and payments. Most OP&F employers already submit their reports and contributions electronically. Those employers who still submit reports manually will now be required to transition to paperless reporting.

OP&F has created a committee of Finance staff members to lead the campaign. Over the last two years, OP&F has made significant strides internally to prepare the organization for a paperless approach. As OP&F continues to move forward with this project, it is imperative that the cities, towns and townships that employ our active members are submitting their payroll reports and payments electronically.

OP&F’s Finance Department staff members will support employers through this transition, including providing training and materials. The small number of employers who do not currently both report and pay electronically are encouraged to start preparing early to ensure a smooth transition.

Partnership with Cristo Rey marks 10 year anniversary

OP&F’s Board of Trustees took time during its June meeting to recognize the 10 year anniversary of supporting Cristo Rey High School’s work study program for minority and underserved youth in Columbus. The Board ‘s efforts to support city youth in the communities police and fire serve have resulted in 100 percent of OP&F’s Cristo Rey students being accepted to college. Five of the students have been hired full time at OP&F also.

PORTFOLIO UPDATE

  • As of 6/19: $17.3 billion
  • End of May: $17.1 billion
  • End of April: $17.4 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.

    FINANCE: Ohio’s Auditor of State audits OP&F annually to ensure the safety of member funds. The Auditor of State contracts with RSM, an independent auditing firm to perform the audit. RSM presented to the Board the Post-Audit Communications, Audit Opinion, Internal Control Report and the Report Letter, with no findings, issues or recommendations, a “clean” audit. This is the last year RSM is eligible to serve and the Auditor of State will conduct an RFQ for a new independent auditor.

    INVESTMENT: In addition to a review and discussion of the investment portfolio, staff presented the 2022 Public Markets Manager Fee Report.

    Motions:

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

  • The Board approved the recommendation of Investment Staff and Aksia for a capital commitment of up to $40 million to Altaris Health Partners VI. Motion passed by unanimous vote. (Investment Committee).
  • The Board approved Townsend’s rating recommendation for OP&F’s Real Assets managers. Motion passed by unanimous vote. (Investment Committee).
  • The Board approved the Administrative Rules as presented and authorizes the required filing of the rules with the proper agencies. Motion passed by unanimous vote. (Finance Committee).
  • The Board approved the following from the Disability Committee. Motions passed by unanimous vote:
    • Approved one Death Benefit Fund case and disapproved one Death Benefit case.
    • Approved 13 Initial Determinations of Disability, and one Reconsideration Hearing for an increase.
    • Approved five appeal hearings and denied one Appeal Hearing
    • Approved the Disability Reporting Waivers list.

    NEXT BOARD OF TRUSTEES MEETINGS: Aug. 29-30, 2023

    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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