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June 2021 DROP Semi-Annual Statements – Now Available in MyLAFPP!
DROP Participants! View your DROP Semi-Annual Statements in MyLAFPP.
You may now view and/or print your 2021 DROP Semi-Annual Statement for the period ending June 30, 2021 in MyLAFPP. This statement summarizes your individual DROP account balance, monthly pension deposits, ITD (inception-to-date) interest, and mandatory exit date.
Stay Connected with LAFPP
At LAFPP, we strive to provide the best service to our members who dedicate their careers and risk their lives to protect the people of Los Angeles.
We have several ways you can find information and engage with us:
July 2021 Active/DROP Newsletter Is Now Available!
We invite you to read our newsletter filled with announcements and benefit topics including the City of Los Angeles’ Retirement Incentive Pay (RIP) bonus, Active member and DROP participant statements available online, and the new rollover-via-wire-transfer option for DROP participants.
Election of the 2021-22 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 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.
Commissioner Belinda Vega Re-Appointed to the Board
Effective July 1, 2021, Commissioner Belinda M. Vega was re-appointed by Mayor Eric Garcetti and confirmed by the City Council to serve a new five-year term ending June 30, 2026.
Rollover via Wire Transfer Now Available!
DROP Participants who are exiting, there is now a new feature available to you!
You now have the option to have your DROP funds rollover via wire transfer, for a minimal fee (currently $35 per wire transfer).
2020 Active Member Annual Statements
Available in MyLAFPP!
Active members! View your 2020 Annual Member Statement in MyLAFPP.
View and/or print your 2020 Annual Statement online. This statement summarizes your individual pension-related information as of December 31, 2020, including service credit, pension estimates (if eligible to retire), contributions and interest, spouse or domestic partner information, and beneficiary designation.
Los Angeles Fire and Police Pensions CIO Announcement
After an exhaustive search for a new Chief Investment Officer (CIO) by Korn Ferry, General Manager Ray Ciranna is excited to welcome Ray Joseph as the new CIO replacing Tom Lopez, who is retiring after over 40 years with LAFPP.
Retirement Incentive Pay (RIP) Program – Member Update
The City of Los Angeles Retirement Incentive Pay (RIP) is a program developed by the City and sworn labor unions to allow sworn employees who are retiring or entering DROP to include deferred salary increases as part of their pension benefit calculation or to apply toward their accrued leave (sick/vacation/overtime) payout at the time of retirement.
Los Angeles Fire and Police Pensions Fund Assets Reach New Milestone
LAFPP’s assets under management now exceed $30 billion. This turnaround is remarkable given the market volatility over the past year. As of June 1, 2021, the unaudited market value of the fund is over $30 billion, which is up from $22.5 billion just one year ago.
Member Survey Invitation – Remote Services
Help us shape the future of LAFPP services by filling out our survey!
June 2021 Retired/DROP Newsletter
- 2021 Non-Medicare Retiree Health Subsidy Increase
- 2021 Cost of Living Adjustment is 1.0%
- Annual Approval of Health and Dental Plans
- Dependent Child Benefits
- LAFPP is Going Digital
December 2020 DROP Semi-Annual Statements – Now Available in MyLAFPP!
DROP Participants! View your DROP Semi-Annual Statements in MyLAFPP.
You may now view and/or print your 2020 DROP Semi-Annual Statement for the period ending December 31, 2020, in MyLAFPP. This statement summarizes your individual DROP account balance, monthly pension deposits, ITD (inception-to-date) interest, and mandatory exit date.
2021 Non-Medicare Subsidy Increase
SPECIAL NOTICE: This article only applies to eligible retired members of Los Angeles Fire and Police Pensions and respective Qualified Surviving Spouses/Domestic Partners.
The new approved amount for the non-Medicare health subsidy maximum is $1,958.82 per month, effective July 1, 2021.
Update Your Beneficiary Designation Online
You may now submit or update your beneficiary designation(s) electronically by logging into MyLAFPP, your member self-service portal.
Have You Experienced A Recent Life Changing Event?
A life changing event may have an impact on your pension and on the eligibility of your survivor(s) upon your death as an active or retired member.
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.
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.
LAFPP Board Letter to County Health Department
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.