Board News

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Election of 2023-2024 Board 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.

Article

LAFPP Board Appoints General Manager – Joseph Salazar

Announcement

03/24/2023 UPDATELAFPP is pleased to announce that Joseph Salazar’s appointment as General Manager has been confirmed by the City Council and Mayor. He now begins his official tenure as the General Manager of the Los Angeles Fire and Police Pensions Department. 

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Economic Downturn and Your Pension Plan

Pension

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.

Article

LAFPP Board Appoints Interim General Manager – Joseph Salazar

LAFPP Announcement

Earlier this year, LAFPP General Manager Ray Ciranna announced his intent to retire at the end of September 2022.  To ensure a seamless transition of leadership for the Department, the Board appointed Joseph (“Joe”) Salazar as the Interim General Manager, effective September 25, 2022. 

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Election of the 2021-22 Board Officers

brianpendletonandkennethbuzzell

Each year in July, the Board of Fire and Police Pension Commissioners elects its Officers of the Board to serve one-year terms. On June 3, 2021, the Board authorized a one-time waiver of its Governance Policies that limit the current President and Vice President from serving more than one term consecutively. On July 15, 2021, the Board re-elected Brian Pendleton as President and Kenneth E. Buzzell as Vice President.

Investment

Board Adopts 7.00% Rate of Return

charts on a computer screen

On May 21, 2020, the Board of Fire and Police Pension Commissioners approved the Plan actuary’s recommendation to lower the investment return assumption from 7.25% to 7.00%. This action will help ensure the long-term viability of the Plan to properly fund the benefits for members.