2013 Annual Report
2014 ANNUAL REPORT
The 2014 Annual Report for Los Angeles Fire and Police Pensions is now available online!
As of June 30, 2014, the System’s assets grew from $15.75 billion
to over $18.27 billion on a market basis, while serving over
25,600 members including 13,097 active and DROP members and
12,502 retired members and beneficiaries. The System’s pension
benefits are actuarially funded at 86.6 percent and the health
subsidy benefits are funded at 43.2 percent. Combined, the
funded status of these benefits is 80.8 percent. It is
important to note that LAFPP has been pre-funding health subsidy
benefits since 1989, and is one of the few public pension systems
to do so.
Our market rate of return of 17.86 percent marks the second year
in a row that the System experienced double-digit returns. This
increase from the previous year’s 13.01 percent return was
primarily due to strong performance in the domestic fixed income
and international equity markets. As a result, LAFPP
continues to remain amongst the highest funded public pension
systems in the country.
This past fiscal year was also a year of great accomplishments at
LAFPP. Our successes include the completion of security and
network infrastructure upgrades to help ensure the protection of
our membership information. In addition, the project to replace
our pension administration system, one of the most significant
projects undertaken by staff, is well underway. A major
goal of the new system is to provide additional functionality to
members and staff. We continue to refine and update our
Strategic and Business Plan goals to build upon our prior
achievements and meet new challenges. All achievements ultimately
support our mission – to advance the health and retirement
security of those who dedicate their careers and risk their lives
to protect the people of Los Angeles.
In addition to this report, our historical annual reports,
actuarial valuations and financial statements are available in
the Financial Reports section.