JUNE 2023 ACTIVE/DROP NEWSLETTER
GENERAL MANAGER’S MESSAGE
SUMMER 2023 EDITION OF PENSION PERSPECTIVES
I am pleased to announce that in January I was selected by the Board as General Manager of Los Angeles Fire and Police Pensions. The selection was confirmed in March by the City Council and Mayor. Following my selection and confirmation, I have appointed our new Assistant General Managers, Greg Mack (Pensions Division) and Myo Thedar (Administrative Operations Division), and the search for a new Chief Investment Officer is in progress.
I encourage you to read through all the important information provided in this issue to learn about your member statements, virtual and in-person seminars, and lost service time.
If you have any questions or comments, please contact us at (213) 279-3000 or via email at pensions@lafpp.com.
Respectfully,
Joe Salazar
General Manager
2022 ACTIVE MEMBER STATEMENTS – NOW AVAILABLE IN MyLAFPP
Active Members! You may now view and print your 2022 Annual Member Statement by logging into your MyLAFPP account. Click here to read more.
FINANCIAL PLANNING EDUCATION IN-PERSON SEMINARS AND WEBINARS
These sessions help prepare you for retirement and assist with your overall financial planning. We encourage you to take advantage of our virtual webinars which offer a more convenient alternative to in-person seminars. Review the upcoming schedule for available dates and register to attend via your MyLAFPP account.
TIER 6 FAQs BROCHURE – UNDERSTANDING YOUR PENSION
LAFPP aims to engage members in the early stages of your career by providing you with educational resources to begin planning for retirement. As part of this ongoing effort, we have created an “Understanding Your Pension” brochure specifically for Tier 6 members. Click here for additional helpful resources.
LAFPP 2022 ANNUAL REPORT
View LAFPP’s 2022 Annual Report online to learn more about the Plan’s investment performance, actuarial data, and statistical information for the fiscal year ending June 30, 2022.
LOST SERVICE TIME
Lost Service Time (LST), also known as “Bad Time,” is subtracted from years of service for any unpaid absences during which you did not make pension contributions. Click here to learn more about LST. To view if you have LST, log in to your MyLAFPP account.
BOARD OF FIRE AND POLICE PENSION COMMISSIONERS NEWS
LAFPP BOARD MEETINGS
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.
COMMISSIONER RAUL PEREZ RE-APPOINTED TO THE BOARD
Effective July 1, 2023, Commissioner Raul Perez was re-appointed by Mayor Karen Bass and confirmed by the City Council to serve a new five-year term ending June 30, 2028. Commissioner Perez was first appointed by former Mayor Antonio Villaraigosa and served on the Board between September 2009 and April 2013. In March 2023, he was appointed by Mayor Karen Bass to serve the current term ending June 30, 2023, for the seat vacated by former Commissioner Megan M. Hernandez.
Congratulations, Commissioner Perez!
In every edition of the newsletter, we will include information to educate you on retirement benefits. In this edition, we’d like to educate you on Purchasing Your Recruit Training Time. Watch the video to learn more, then visit our Pensions Toolkit Page for more tools and videos:
Purchasing Your Recruit Training Time
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