Financial markets across the world have been hit hard by the coronavirus outbreak, with stocks suffering the largest losses. Your pension fund invests in a variety of other assets besides stocks that help cushion the fund against fluctuations in stock prices. The fund has plenty of cash on hand to meet pension and DROP payments without the need to sell any securities in this down market.
The Cost of Living Adjustment (COLA) is 3.4% for 2020 and was approved by the Board of Fire and Police Pension Commissioners on March 19, 2020.
The current term for the Fire Department Retired Member of the Board of Fire and Police Pension Commissioners will end on June 30, 2020. The Office of the City Clerk, in conjunction with the Department of Fire and Police Pensions, is scheduled to conduct an Election on Tuesday, March 31, 2020, to fill that position.
Ballots will be mailed to eligible voters beginning on Friday,
March 6, 2020.
Updated: February 28, 2020
All 1099-R tax forms have been posted to MyLAFPP for viewing and downloading. Read more on how to access your 1099-R on MyLAFPP.