Monthly Board Report

Britt elected Board chair for 2022-23

Robert Britt (Toledo Police) was unanimously elected to serve as the chair of the OP&F Board of Trustees for a one year term beginning in June. Britt was elected to the OP&F Board of Trustees in 2019, representing active police officers. Britt is a veteran of the Toledo Police Department, joining the force in 1993. Marco Miller (retired, Columbus Fire) was elected chair elect of the Board. Miller was elected to the Board in 2019 representing retired firefighters. He retired from the Columbus Division of Fire as a lieutenant.

Britt takes over the chair position from Stephen Corvi (Columbus Fire), who has served as Board Chair since 2020. Corvi remains on the Board representing active firefighters.

HELPS Act introduced, will again allow tax advantage to OP&F retirees

Ohio Senator Sherrod Brown introduced legislation, in cooperation with a coalition of the national IAFF and national FOP, to repeal the direct payment requirement under the Healthcare for Local Public Servants (HELPS) Act.

If enacted, this would mean OP&F retirees can once again exclude from gross income up to $3,000 distributions to pay qualified health insurance premiums. The original HELPS Act (2006) did not allow OP&F retirees to use the exclusion once OP&F implemented its stipend-based retiree health care plan in 2019.

OP&F investments rank high among peers in 2021

A study by independent investment consulting firm RVK commissioned by the Ohio Retirement Study Council found that the OP&F outperformed its own benchmarks, and its Ohio and national peers in 2021. OP&F outperformed more than 98 percent of all public plans with greater than $1 billion in holdings.

PORTFOLIO UPDATE

OP&F’s investment portfolio value:

  • Current value (5/24/22): $17.89 billion
  • End of April value: $18.30 billion
  • End of March value: $19.00 billion

Board of Trustees Committee Notes

(Motions voted on by the Board are listed separately)

  • DISABILITY: The Committee conducted its scheduled initial determination hearings.
  • BENEFITS: The Committee discussed and approved the Administrative Rules scheduled for review by the Joint Committee on Agency Rule Review.
  • INVESTMENT: In addition to a review and discussion of the investment portfolio, Wilshire continued the Asset Liability Study by providing the Board with numerous optimal portfolio mixes using several sets of asset class constraints. Wilshire also presented the Investment Performance Report for periods ended March 31, 2022 as well as the Private Equity & Private Credit Program Analysis for periods ended December 31, 2021. Townsend discussed the Real Estate and the Real Assets Performance and Portfolio Reviews for periods ended December 31, 2021. The Manager Fee Report was also provided to the Board.
  • Motions:

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

    • Approved the Administrative Rules outlined in staff’s memorandum dated May 24, 2022, and authorizes the required filing of the rules with the proper agencies. Motion passed by unanimous vote (Benefits Committee).
    • Approved the following from the Disability Committee (motions passed by unanimous votes):
      • The recommendations for four Death Benefit Fund cases
      • The recommendations for 11 Initial Determination Hearings
      • The recommendations for one Reconsideration Hearing
      • The Disability Reporting Waivers List
      • The Administrative Rules outlined in staff’s memorandum dated May 25, 2022, and authorizes the required filing of the rules with the proper agencies.
      • Revisions to the updated Disability Program Manual and DEP Operating Revisions to the updated Disability Program Manual and DEP Operating Guidelines.

    NEXT BOARD OF TRUSTEES MEETINGS: June 28-29, 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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