AUGUST 2023 ACTIVE/DROP NEWSLETTER
NEW CHIEF INVESTMENT OFFICER (CIO) ANNOUNCEMENT
Los Angeles Fire and Police Pensions (LAFPP) is pleased to welcome new CIO Bryan Fujita. After an extensive search for a new CIO by EFL Associates, General Manager Joseph Salazar selected Mr. Fujita as the new CIO replacing Ray Joseph, who resigned from LAFPP in May 2022. Click here to read more.
2023 COST OF LIVING ADJUSTMENT (COLA) – DROP PARTICIPANTS
The 2023 COLA, effective July 1, 2023, is 5.1%. All eligible pensioners and Deferred Retirement Option Plan (DROP) participants received an increase accordingly. Click here to view eligible COLA amounts.
LAFPP’S ONGOING COMMITMENT TO CYBERSECURITY
LAFPP remains committed to keeping member data and other information safe and secure. As more and more members conduct business online, we recognize the increased need to manage cybersecurity risks and have adopted a strategic cybersecurity initiative to mitigate those risks. Click here to learn more.
DEFFERED RETIREMENT OPTION PLAN (DROP) PARTICIPANT FAQs
The DROP FAQs are designed to provide a quick reference to the DROP Program. These FAQs provide information on topics such as Entering DROP, Your DROP Account, DROP Participation, and Taxes and Social Security. Click here to access the DROP Members FAQs.
TERMINATION OF ACTIVE SERVICE
Terminating employment with the City does not always mean a total loss of your member contributions with LAFPP. Click here to learn about your options.
BOARD OF FIRE AND POLICE PENSION COMMISSIONERS NEWS
The Board of Fire and Police Pension Commissioners holds regular meetings on the first and third Thursdays of the month at 8:30 a.m. Please review the respective Board Meeting Agenda for the most current information and meeting details.
BOARD ELECTS NEW OFFICERS
Each year in July, the Board of Fire and Police Pension Commissioners elects its Officers of the Board to serve one-year terms. On July 20, 2023, the Board elected Sumi Parekh as President and Garrett Zimmon as Vice President. Read more about our newly elected Board Officers.
In every edition of the newsletter, we will include information to educate you on retirement benefits. In this edition, we’d like to educate Tier 6 members on their pension benefits. Read the Tier 6 FAQ Brochure and visit our Pensions Toolkit Page for more helpful tools and videos:
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