Board News

Article

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. 

Article

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.