2016 Annual Report
Thefor Los Angeles Fire and Police Pensions is available online!
LAFPP is pleased to present the 2016 Annual Report. This report provides financial information such as the department’s budget summary, investment performance, asset allocation data, plan actuarial data, statistical information, and a summary of plan provisions for the fiscal year ending June 30, 2016.
Some of the highlights in this report are:
- The System serves approximately 25,997 members, including active, DROP, and retired members and beneficiaries.
- Pension benefits were actuarially funded at 93.9 percent and health subsidy benefits were funded at 48.1 percent, an increase of 2.4 percent and 2.7 percent respectively over the prior year. The combined funding status is 87.4 percent.
- System assets totaled over $18.5 billion on a market basis.
- The investment rate of return for Fiscal Year 2015-16 was 1.18 percent, which is less than our actuarial assumed rate of return of 7.5 percent. However, over the 3- and 5-year periods, the System’s return was 7.49 percent and 7.42 percent, respectively.
- An Asset Liability Study was completed by the Plan’s investment consultant, RVK, which was used by the Board to help establish the appropriate asset allocation for the Fund.
- LAFPP relocated to a new headquarters facility in the Downtown Arts District in March 2016 after residing in Little Tokyo for almost 30 years.
We continue to refine and update our Strategic and Business Plan goals to build upon our prior achievements and meet new challenges. These 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 from the Financial Reports link in the About LAFPP section of our website.