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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.

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Dissolution of Marriage and Your Pension Guide

As a member of LAFPP, it is important that you understand the impact a dissolution of marriage may have on one of your largest assets – your pension. In California, any asset acquired, or income earned while married is considered community property. As part of this, pension benefits and contributions are subject to community property laws and, as assets, may be subject to division upon dissolution of marriage.

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.

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We are monitoring your LAFPP Fund

Financial markets across the world have been hit hard by the coronavirus outbreak, with stocks suffering the largest losses. Your pension fund invests in a variety of other assets besides stocks that help cushion the fund against fluctuations in stock prices. The fund has plenty of cash on hand to meet pension and DROP payments without the need to sell any securities in this down market. 

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COLA 2020

The Cost of Living Adjustment (COLA) is 3.4% for 2020 and was approved by the Board of Fire and Police Pension Commissioners on March 19, 2020.

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Ballot Mailing – Fire Department Retired Member Board of Fire and Police Pension Commissioners

The current term for the Fire Department Retired Member of the Board of Fire and Police Pension Commissioners will end on June 30, 2020. The Office of the City Clerk, in conjunction with the Department of Fire and Police Pensions, is scheduled to conduct an Election on Tuesday, March 31, 2020, to fill that position.

Ballots will be mailed to eligible voters beginning on Friday, March 6, 2020.

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2019 Annual Report

LAFPP is pleased to present the 2019 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, 2019.