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2022 Valuation Reports Approved

Based on the actuarial report for the period ending June 30, 2022, the combined funded ratio for pension and health benefits is 95.0%, up from 92.5% the previous year. The overall unfunded liabilities have decreased from $2.1 billion to $1.5 billion.

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Health RFP – Information for All Pensioners
RFP's for Retiree Health, Dental, and Vision Plans

Article Last Updated on 10/20/22. Click “Read More” to view the latest information.

On October 20, 2022, the Board approved a recommendation from the Ad Hoc Committee on Retiree Healthcare Program to find that conducting a competitive bidding process for retiree health, dental, and vision insurance plans and/or third-party administrator services is impractical and/or undesirable. 

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Pension

Economic Downturn and Your Pension Plan

The current economic conditions continue to negatively impact retirement funds across the nation. A decline in consumer sentiment, rising interest rates, and lower-than-expected retail sales are weighing on the markets.

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LAFPP Announcement

LAFPP Board Appoints Interim General Manager – Joseph Salazar

Earlier this year, LAFPP General Manager Ray Ciranna announced his intent to retire at the end of September 2022.  To ensure a seamless transition of leadership for the Department, the Board appointed Joseph (“Joe”) Salazar as the Interim General Manager, effective September 25, 2022. 

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June 2022 DROP Semi-Annual Statements – Now Available in MyLAFPP!

DROP Participants! View your DROP Semi-Annual Statements in MyLAFPP

You may now view and/or print your DROP Semi-Annual Statement for the period ending June 30, 2022 in MyLAFPP.  This statement summarizes your individual DROP account balance, monthly pension deposits, ITD (inception-to-date) interest, and mandatory exit date. 

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