Newsroom

We invite you to read our newsletter filled with announcements and benefit topics including your 2021 Active Member Statements, December 2021 DROP Semi-Annual Statements and Virtual Webinars. 

Active members! View your 2021 Annual Member Statement in MyLAFPP.

View and/or print your 2021 Annual Statement online. This statement summarizes your individual pension-related information as of December 31, 2021, including service credit, pension estimates (if eligible to retire), contributions and interest, spouse or domestic partner information, and beneficiary designation.

Ballots have been mailed to eligible voters on March 31, 2022.

SPECIAL NOTICE: This article only applies to Retired Members and Qualified Surviving Spouses/Domestic Partners of the Los Angeles Fire & Police Pension Plan.

The Centers for Medicare and Medicaid Services (CMS) has increased the standard Medicare Part B monthly premium to $170.10 effective January 1, 2022; however, you may pay a different amount determined by CMS.

Good news! Based on the actuarial report for the period ending June 30, 2021, the combined funded ratio for pension and health benefits is 92.5%, up from 88.6% the previous year. The favorable results indicate that the Plan remains strong despite another volatile year marked by the continuing COVID-19 pandemic.

Ballots will be mailed to eligible voters beginning on Tuesday, October 26, 2021.

A Special Election to select the Police Department Employee Member of the Board of Fire and Police Pension Commissioners (Board) is scheduled on November 16, 2021. The candidate elected will serve the unexpired term beginning February 1, 2022 and ending June 30, 2025.

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. 

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.

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).

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.

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.

January 2021 begins with more good news for LAFPP!  As of January 12, 2021, the Fund reached an unaudited market value in excess of $28.3 billion dollars.

Total fund assets have once again reached an all new high! As of December 8, 2020, your Fund reached an unaudited market value in excess of $27.5 billion dollars. This greatly exceeds the $25 billion total as of January 2020, just before the stock market declined due to the COVID-19 pandemic. The rebound in the Plan’s market value is due to the strong recovery in the equity markets and the City’s annual contribution payment received in July 2020.

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.

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.

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

Active members! View your 2019 Annual Member Statements in MyLAFPP.

Effective July 1, 2020, Commissioner Adam Nathanson was re-appointed by Mayor Eric Garcetti and confirmed by the City Council to serve a new five-year term ending June 30, 2025. 

Our response to Members who are concerned regarding the financial strength of the LAFPP fund in light of the COVID-19 pandemic.

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.

Congratulations Commissioner Weber!

Commissioner Weber received 74.26% of the vote and will serve the term of office from July 1, 2020 until June 30, 2025.

Ballots will be mailed to eligible voters beginning on Friday, February 21, 2020.

The Centers for Medicare and Medicaid Services (CMS) has recently announced that the standard Part B monthly premium for the 2020 calendar year will increase to $144.60 on January 1, 2020. 

The current term for the Police Department Employee 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 17, 2020, to fill that position. All active, sworn members of the Police Department are encouraged to participate. The candidate elected will serve a five-year term that begins July 1, 2020 and ends June 30, 2025.

When you call our LAFPP offices, we now have a phone tree to get you to the service or information you need, quickly and efficiently.

You may now view and/or print your 2018 Annual Statement. This statement summarizes your individual pension-related information by providing employee information, service credit, pension estimates (if eligible to retire), contributions and interest, spouse or domestic partner information, and beneficiary designations as of December 31, 2018.

On June 20, 2019, George Aliano attended his last official meeting as Commissioner of the Board of Fire and Police Pensions (Board).

Other parking options for LAFPP members.