Newsroom

Overview

Newsroom

LAFPP is committed to providing timely and relevant information to our members and stakeholders relating to the operation and activities of the Plan.

Article

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. 

Article

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.

Article

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.

Article

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.

Article

LAFPP NEW OFFICE HOURS!

As of January 1, 2020, our new business hours are 7:30 a.m. to 4:30 p.m., Monday through Friday, excluding City holidays.

Article

ELECTION – 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. All retired, sworn members of the Fire Department are encouraged to participate. The candidate elected will serve a five-year term that begins July 1, 2020 and ends June 30, 2025.

Article

ELECTION – POLICE DEPARTMENT EMPLOYEE MEMBER BOARD OF FIRE AND POLICE PENSION COMMISSIONERS

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.

Article

LAFPP Contract with Fisher Asset Management

The Board of Fire and Police Pension Commissioners held a special hearing to determine the future of the Fund’s contract with Fisher Asset Management. After a lengthy and deliberative discussion, the Board voted to terminate its contract with Fisher for management of an international large cap equity portfolio.

Article

Direct Deposit Transition

LAFPP is currently working toward transitioning all of our pensioners from paper checks to direct deposit. 97% of our pensioners currently use direct deposit to safely and quickly receive their monthly pension payments.

Direct deposit provides the following benefits:

Article

2019 DROP Semi-Annual Statements
Now Available on MyLAFPP!

You may now view and/or print your DROP Semi-Annual Statement for the period ending June 30, 2019, on MyLAFPP.  This statement summarizes your individual DROP account balance, monthly pension deposits, ITD (inception-to-date) interest, and mandatory exit date. To view your statement, take the following steps:

Article

2018 Annual Active Member Statements
Now Available on MyLAFPP!

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.

Article

2019 Non-Medicare Health Subsidy Increase

On May 2, 2019, the Board of Fire and Police Pension Commissioners approved a 5.5 percent increase to the non-Medicare health subsidy.  The new non-Medicare health subsidy maximum is $1,820.29 per month, effective July 1, 2019.

Webform

Welcome to LAFPP’s new website!

Our website has been redesigned to create a user-friendly interface for our members, stakeholders, and visitors to easily navigate and find information. For the new design, we aimed for a minimalist look without sacrificing information. 

Article

COLA 2019

The Cost of Living Adjustment (COLA) is 2.5% for 2019 and was approved by the Board of Fire and Police Pension Commissioners on March 21, 2019.  The COLA will be effective July 1, 2019, and all eligible pensioners and DROP participants will receive an increase accordingly, beginning with the pension payment dated July 31, 2019.

Post

MyLAFPP is Now Back Up

Released May 31, 2019 2:01PDT

MyLAFPP is now back and operational. We thank you for your patience. 

 

Released May 31, 2019 1:41 PDT

Due to the popularity of the new MyLAFPP, we are experiencing a huge amount of traffic on the website. Our users are reporting seeing an error and are unable to access the site.

We apologize for the inconvenience and expect this to be resolved soon. We recommend our users to try again at a later time. 

Article

Passing of Gary Mattingly

Gary Mattingly

It is with great sadness that we announce the recent passing of Gary Mattingly, former General Manager of the Department of Fire and Police Pensions.

Article

EFT Prenotification Message

IMPORTANT: Please note that LAFPP performed an Electronic Funds Transfer (EFT) prenotification test the week of December 3, 2018. The test was conducted to validate your routing and account numbers for our upcoming pension administration system (PARIS). You may have received notification from your bank that LAFPP was given authorization by you to Debit or Credit your account. Please note that neither a debit or credit was made to your account. The test was a validation to help ensure a seamless transition to PARIS.

Article

Sign Up for a DROP Group Counseling Session

The effective date of the ordinance amending the DROP Program has been changed to February 1, 2019.  If you enter the DROP Program by January 31, 2019, you will not be subject to the proposed amendments. 

Article

LAPD Members – Ready to Enter DROP

Call and schedule an appointment directly with LAFPP to draft your Letter of Intent.  You no longer need to make an appointment with the LAPD Retirement Liaison.  When you call to make an appointment with LAFPP, your assigned counselor will assist you with:

Article

Passing of Sam Diannitto

We are saddened to report that former Commissioner Sam Diannitto passed away last week.  We honor and recognize his long history of service to the City of Los Angeles and the Fire and Police Pension System.  

Commissioner Diannitto started with the Fire Department in 1954 and after serving 43 years, he retired in 1997 as an Assistant Fire Chief.

Article

Special Election – Police Department Employee Member Board of Fire and Police Pension Commissioners

The current term for the Police Department Employee Member of the Board of Fire and Police Pension Commissioners will end on June 30, 2020.  Commissioner Robert von Voigt will be resigning from the Board as the Police Department Employee Board Member effective September 30, 2018. Since Commissioner von Voigt’s term was scheduled to expire on June 30, 2020, his resignation leaves an unexpired term of twenty-one (21) months.

Article

COLA for 2018

The Cost of Living Adjustment (COLA) is 3.6% for 2018 and was approved by the Board of Fire and Police Pension Commissioners on April 19, 2018.

Article

DROP Program Review – Update

The ordinance amending the DROP Program was approved at its second reading by the City Council on January 15, 2019.  The adopted changes to the Program will affect all members entering DROP on or after February 1, 2019. 

 New DROP Requirements for Members Entering on or After February 1, 2019:

Article

2017 Annual Report

LAFPP is pleased to present the 2017 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, 2017.

Article

2017-18 Health & Dental Subsidy Updates

On December 7, 2017, the Board of Fire and Police Pension Commissioners approved new maximums for the Medicare health subsidy, the health subsidy for Qualified Surviving Spouses/Domestic Partners, as well as the dental subsidy.  These new maximum amounts will be effective January 1, 2018 through December 31, 2018.

Article

Medicare Part B Premium Reimbursement for 2018 – ACTION REQUIRED

The Centers for Medicare and Medicaid Services (CMS) has announced the maximum standard Medicare Part B (Part B) premium for the 2018 calendar year.  The standard Part B premium will remain at $134.00 and will be effective January 1, 2018.  Action may be required of members whose current Part B reimbursement is less than $134.00.

Article

LAFPP Hits $21 Billion

For the first time in LAFPP history, the Fund’s total assets reached an unaudited market value in excess of $21 billion dollars as of July 18, 2017.

Article

Board Review Of Retiree Health Plans And Subsidy Program

UPDATE: As of November 1, 2018, the Board has approved contracts between LAFPP and Los Angeles Firemen’s Relief Association (LAFRA), Los Angeles Police Relief Association (LAPRA), United Firefighters of Los Angeles City (UFLAC), and Los Angeles Police Protective League (LAPPL).  The new contracts formally establish LAFRA, LAPRA, UFLAC, and LAPPL as Board-approved Health and/or Dental Plan Sponsors. The contracts are effective immediately and are for a 5-year term.  

Investment

Board Adopts 7.25% Rate of Return

On June 1, 2017, the Board of Fire and Police Pension Commissioners approved the Plan actuary’s recommendation to lower the investment return assumption from 7.50% to 7.25%.  This action will help ensure the long-term viability of the Plan to properly fund the benefits for members.

Article

2017 COLA

The Cost of Living Adjustment (COLA) effective July 1, 2017 is +2.7% and all eligible pensions will be adjusted accordingly beginning with the pension payment dated July 31, 2017.

Article

New Mural Proposed for the Neptune Building

A new mural titled, “Bloom” will be painted by the artist Hueman on Neptune Building’s east-facing wall. The mural will commemorate Joel Bloom, a pioneering community activist who dedicated his personal time and energy over twenty years into creating the Arts District.

Article

Rockefeller Institute Published Report of Los Angeles Fire and Police Pensions

A new Rockefeller Institute pension model report on the Los Angeles Fire and Police Pension Plan (LAFPP) found that “LAFPP is much better funded than most public pension plans with a funded ratio of 91%” and is well positioned financially given the conservative amortization policies and contribution policy by the City of Los Angeles.

Article

2016 Annual Report

LAFPP is pleased to present the 2016 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, 2016.

Board

LAFPP Receives the Rich Chicotel Award

Los Angeles Fire and Police Pensions (LAFPP) is honored to receive the Rich Chicotel Award from the Pension Real Estate Association (PREA) this year.  The award is named in honor of the late Rich Chicotel, who was the chief financial officer of Shorenstein Properties, one of the country’s oldest real estate organizations, and an LGBT philanthropist active in various LGBT causes and fundraising activities.  In 2007, he was named by the San Francisco Business Times as the San Francisco Bay Area CFO of the Year for privately-owned companies.

Article

Retroactive Health Subsidy Payments for Retired Members

The maximum retiree health subsidy for Fiscal Year 2015-2016 has been retroactively increased from $1,435.13 to $1,438.49. On May 5, 2016, the Board of Fire and Police Pension Commissioners approved the additional 0.25% increase to take effect July 1, 2015. This increase will result in an additional subsidy of up to $3.36 per month.

Board

Election of Board Officers

On July 21, 2016, the Board elected Commissioners Pedram Salimpour, MD and Ruben Navarro as the new President and Vice President, respectively. 

Board

Sam Diannitto Boardroom Dedication

On May 19, 2016, the Board of Fire and Police Pension Commissioners (Board) formally dedicated the Boardroom in the new LAFPP office building to Sam Diannitto.

Article

2016 COLA

The Cost of Living Adjustment (COLA) effective July 1, 2016 is +2.4%…

Article

2015 Annual Report

As of June 30, 2015, the System’s assets totaled over $18.72 billion, while serving over 25,000 members, including 11,709 active members, 1,359 DROP members and 12,593 retired members and beneficiaries.

Article

Dealing With Market Ups and Downs

In light of recent market volatility, it’s only natural to be concerned about your personal financial circumstances – especially your retirement plan.  But during periods in which the stock market falls sharply, we sometimes need a reminder of our Plan’s assets and the investment strategy the LAFPP Board has put in place.

Investment

Pension Funded Ratio Increases To 91.5%

Based on the recent actuarial report completed by the System’s actuary, the pension benefit funded ratio has increased from 86.6% to 91.5%. The combined funded ratio for pension and health benefits is 85%, up from 80.8% the previous year. This marks the second consecutive year that the combined funded ratio has increased for the System.

Board

Pension Reform Initiatives for 2016

UPDATED 1/26/16: The Voter Empowerment Act of 2016 would change how California state and local government employee compensation and retirement benefits are determined.

Board

Election of Board Officers

Each year, the Board of Fire and Police Pension Commissioners elect its Officers of the Board during the last meeting in July.  On July 16, 2015, the Board elected Commissioners Robert von Voigt and Pedram Salimpour as the new President and Vice President, respectively. 

Board

Retired Fire Board Member Election Results

The term of the Board’s Fire Department Retired Employee Member, Commissioner Sam Diannitto, ends on June 30, 2015.  An election was held on March 31, 2015 for this position. A candidate needs the majority of all votes cast (i.e. at least 50% plus one of the votes returned) in order to win the election. Commissioner Diannitto received 91.38% of the vote and will serve the term of office from July 1, 2015 until June 30, 2020.

Congratulations Commissioner Diannitto!

Investment

2015 COLA Update

The Cost of Living Adjustment (COLA) effective July 1, 2015 is +0.1%

Update as of 4/2/2015

The Cost of Living Adjustment (COLA) effective July 1, 2015 is +0.1% and all eligible pensions will be adjusted accordingly beginning with the pension payment dated July 31, 2015.

Article

Anthem Security Breach

Anthem security breach Healthcare provider Anthem, Inc. announced on February 3, 2015, that they are investigating a major breach of their information systems.