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.
Although the market fluctuations affect the LAFFP fund in the short term, your LAFPP fund is invested for the long term. There is a strategic asset allocation plan in place with ongoing adjustments to manage periodic fluctuations. Prior to the most recent market downturn LAFPP made asset allocation decisions that lowered the fund’s risk profile. These strategic and long-term approaches have proven to be the best safeguard to ensure the continued strength of LAFPP to pay your promised retirement benefits.
LAFPP has been in existence since 1899 and has weathered various market downturns and the Board and staff are committed to continually monitoring your pension fund, to ensure its long-term health and sustainability.