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COLA 2021

The Cost of Living Adjustment (COLA) is 1.0% for 2021 and was approved by the Board of Fire and Police Pension Commissioners on March 18, 2021.

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DOMESTIC PARTNERSHIP UPDATE

LAFPP has amended the Domestic Partnership filing requirements to recognize filings with other departments or agencies. If you are considering filing a domestic partnership or already have an established filing, please review the new updates.

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Commitment to Specialized Manager Private Equity Program

Los Angles Fire and Police Pensions (LAFPP) reports a strong internal rate of return of 11.2% for its Specialized Manager Program through June 30, 2020. The semi-annual review of LAFPP’s Specialized Private Equity Program was presented to the Board of Fire and Police Pension Commissioners on February 18, 2021 and highlighted the success of the Program since its inception.

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LAFPP Board Letter to County Health Department

letter

Police officers and other law enforcement professionals are integral within our societal framework and must be protected. The Board of Los Angeles Fire and Police Pensions (Board) strongly urge you as Director of Los Angeles County’s Public Health Department to immediately prioritize police officers and other law enforcement professionals by authorizing the immediate availability of vaccinations for these professionals.

LAFPP Board Letter to County Health Department

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2020 Annual Report

LAFPP is pleased to present our 2020 Annual Report. This report provides financial information, such as the department’s budget summary, investment performance, asset allocation data, plan actuarial data, statistical information, and a summary of plan provisions for the fiscal year ending June 30, 2020.

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2020 Form 1099-R Are Available on MyLAFPP

taxes

The 2020 Form 1099-R is now available for retired members on MyLAFPP. It is the easiest and fastest way to view and print your tax statement without waiting for delivery to your mailing address.

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LAFPP Cost of Living Adjustments (COLA)

cost of living adjustment

All eligible DROP participants, retired members, and beneficiaries are subject to an annual cost of living adjustment (“COLA”). The COLA takes effect on July 1 of every year and the adjustment is received accordingly in the July 31st pension payment/DROP account deposit.

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MEDICARE PART B PREMIUM REIMBURSEMENT FOR 2021

The Centers for Medicare and Medicaid Services (CMS) has increased the standard Medicare Part B monthly premium to $148.50 effective January 1, 2021; however, you may pay a different amount determined by CMS.

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Los Angeles Fire and Police Pensions CIO to Retire

Board, Ray, Tom

Longstanding Chief Investment Officer (CIO), Tom Lopez of Los Angeles Fire and Police Pensions (LAFPP), is set to retire after more than 40 years of service to the fund. Mr. Lopez has been a stalwart in the CIO role since 1993 and has led the Investment Team in building a strong portfolio, successfully achieving returns above the benchmark for over 25 years.

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Fairview Capital and Los Angeles Fire & Police Pensions (LAFPP) held a successful inaugural “Investing in Inclusion” webinar
Press Release

Fairview Capital and Los Angeles Fire & Police Pensions (LAFPP) held a successful inaugural “Investing in Inclusion” event that occurred on November 17, 2020.This event was attended by over 250 diverse general partners, limited partners, and others interested in learning more about LAFPP’s Specialized Manager Program and potential opportunities for fundraising and institutional investing.

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2020 Valuation Reports Approved

Good news! Based on the actuarial report for the period ending June 30, 2020, the combined funded ratio for pension and health benefits is 88.6%, up slightly from 88.5% the previous year. This marks the third consecutive year that the combined funded ratio has increased for the System. Even though the pension benefit funded ratio is now 93.2%, down from 93.6%, the health benefit funded ratio increased from 56.2% to 59.7%. The favorable results indicate that the Plan remains strong despite a volatile year marked by the COVID-19 pandemic.

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FY 19-20 Investment Return

LAFPP is reporting a return of 3.04% for the fiscal year ending June 30, 2020, as assets totaled over $23.​5 billion at the year-end.

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LAFPP Hits $25 Billion

As of August 4, 2020, the Fund’s total assets once again reached an unaudited market value in excess of $25 billion dollars.