Newsroom
AUGUST 2023 Active/DROP Newsletter Is Now Available!
We invite you to read our newsletter filled with announcements and benefit topics including our new Chief Investment Officer, Termination of Active Service, 2023 Cost of Living Adjustment for DROP participants, and more.
Election of 2023-2024 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 July 20, 2023, the Board elected Sumi Parekh as President and Garrett Zimmon as Vice President.
New CIO Announcement
After an extensive search for a new Chief Investment Officer (CIO) by EFL Associates, General Manager Joseph Salazar selected Bryan Fujita as the new CIO.
June 2023 Active/DROP Newsletter Is Now Available!
We invite you to read our newsletter filled with announcements and benefit topics including LAFPP’s 2022 Annual Report, Tier 6 FAQs Brochure – Understanding Your Pension, 2022 Active Member Statements, and more.
Commissioner Raul Perez Re-Appointed to the Board
Effective July 1, 2023, Commissioner Raul Perez was re-appointed by Mayor Karen Bass and confirmed by the City Council to serve a new five-year term ending June 30, 2028.
Commissioner Raul Perez Appointed to the Board
Effective May 2, 2023, Raul Perez was appointed by Mayor Karen Bass and confirmed by the City Council to serve the remaining term ending June 30, 2023, for the seat vacated by former Commissioner Megan M. Hernandez.
2023 Non-Medicare Health Subsidy Increase
The new approved amount for the non-Medicare health subsidy maximum is $2,169.79 per month, effective July 1, 2023.
LAFPP Board Appoints General Manager – Joseph Salazar
03/24/2023 UPDATE: LAFPP is pleased to announce that Joseph Salazar’s appointment as General Manager has been confirmed by the City Council and Mayor. He now begins his official tenure as the General Manager of the Los Angeles Fire and Police Pensions Department.
2022 Active Member Annual Statements
Available in MyLAFPP!
Active members! View your 2022 Annual Member Statement in MyLAFPP.
View and/or print your 2022 Annual Statement online. This statement summarizes your individual pension-related information as of December 31, 2022, including service credit, pension estimates (if eligible to retire), contributions and interest, spouse or domestic partner information, and beneficiary designation.
LAFPP Celebrates Women’s History Month
To commemorate this month we would like to spotlight Hueman, LAFPP’s mural artist, with a tribute to her and her murals from the last 10 years that can be found in and around Los Angeles.
February 2023 Active/DROP Newsletter Is Now Available!
We invite you to read our newsletter filled with announcements and benefit topics including LAFPP Services Update, 2022 Valuation Report Approved, How to Enroll in DROP and Beneficiary Designation.
LAFPP’S 2022 ANNUAL REPORT IS NOW AVAILABLE!
LAFPP is pleased to present our 2022 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, 2022.
LAFPP Enhanced Services
LAFPP provides an important link between your active work-life and retirement. Regardless if you’re a new member looking for information on your benefits or a veteran deciding on your retirement date, LAFPP remains prepared and committed to excellent customer service.
We are available via email, phone, and virtually!
TAX SEASON – 1099-R INFORMATION
As you prepare to file your taxes, here’s how to obtain your 2022 Tax Form 1099-R information
New Form W-4P for Federal Tax Withholding in 2023
In January 2022, the Internal Revenue Service (IRS) released Forms W-4P and W-4R. Use of the new forms was optional for tax year 2022 but LAFPP is required to use them beginning January 1, 2023. Click Read More to see how it may affect you.
LAFPP’s Ongoing Commitment to Cyber Security
LAFPP remains focused and committed to keeping member data/information safe and secure. As more and more members conduct business online, we recognize the increased need to manage cybersecurity risks and have adopted a strategic cybersecurity initiative to mitigate those risks.
MEDICARE PART B PREMIUM REIMBURSEMENT FOR 2023
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 Centers for Medicare and Medicaid Services (CMS) has decreased the standard Medicare Part B monthly premium to $164.90 effective January 1, 2023; however, you may pay a different amount determined by CMS.
2023 Health & Dental Subsidy Updates
On November 17, 2022, 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, 2023 through December 31, 2023.
December 2022 Retired/DROP Newsletter
Retired/DROP Members - December 2022 Newsletter
- 2023 Health & Dental Subsidy Updates
- Medicare Enrollment Requirement for Subsidy
- New IRS Tax Withholding Form W-4P for 2023
- Tax Season – Form 1099-R Information
2022 Valuation Reports Approved
Based on the actuarial report for the period ending June 30, 2022, the combined funded ratio for pension and health benefits is 95.0%, up from 92.5% the previous year. The overall unfunded liabilities have decreased from $2.1 billion to $1.5 billion.
MyLAFPP Scheduled Maintenance
ATTENTION: MyLAFPP will be temporarily unavailable for system maintenance 10/29/2022 12:00a.m. through 10/30/2022 5:00p.m. PST.
Please access any information you may need, in advance. Leave a message at pensions@lafpp.com or (213) 279-3155 with any questions. We will respond the following business day.
We apologize for the inconvenience.
Health RFP – Information for All Pensioners
RFP's for Retiree Health, Dental, and Vision Plans
Article Last Updated on 10/20/22. Click “Read More” to view the latest information.
On October 20, 2022, the Board approved a recommendation from the Ad Hoc Committee on Retiree Healthcare Program to find that conducting a competitive bidding process for retiree health, dental, and vision insurance plans and/or third-party administrator services is impractical and/or undesirable.
Economic Downturn and Your Pension Plan
The current economic conditions continue to negatively impact retirement funds across the nation. A decline in consumer sentiment, rising interest rates, and lower-than-expected retail sales are weighing on the markets.
LAFPP Begins Search for New General Manager
The Los Angeles Fire and Police Pensions (LAFPP or “Fund”) is seeking their next General Manager. The General Manager serves as the chief administrative officer of the Fund. Under the direction of the Board of Commissioners, the General Manager directs the daily internal operations and benefits administration of LAFPP.
LAFPP Board Appoints Interim General Manager – Joseph Salazar
Earlier this year, LAFPP General Manager Ray Ciranna announced his intent to retire at the end of September 2022. To ensure a seamless transition of leadership for the Department, the Board appointed Joseph (“Joe”) Salazar as the Interim General Manager, effective September 25, 2022.
June 2022 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 DROP Semi-Annual Statement for the period ending June 30, 2022 in MyLAFPP. This statement summarizes your individual DROP account balance, monthly pension deposits, ITD (inception-to-date) interest, and mandatory exit date.
LAFPP Management Audit – 2022
The results of the management audit of the Los Angeles Fire and Police Pension Plan were presented to the Board on August 18, 2022, as mandated by Section 1112 of the City Charter.
July 2022 Active/DROP Newsletter Is Now Available!
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.
June 2022 Retired/DROP Newsletter
- 2022 Non-Medicare Health Subsidy Increase
- 2022 Cost Of Living Adjustment Is 7.4%
- LAFPP Quarterly Review
- 2021 Annual Report
General Manager Announces Retirement
Ray Ciranna, General Manager of Los Angeles Fire and Police Pensions (LAFPP), announced his intent to retire in September 2022 to the Board of Commissioners and staff. He has served as General Manager of LAFPP since May 2013.
December 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 DROP Semi-Annual Statement for the period ending December 31, 2021 in MyLAFPP. This statement summarizes your individual DROP account balance, monthly pension deposits, ITD (inception-to-date) interest, and mandatory exit date.
LAFPP Investments Update – CIO Ray Joseph Resigns
Los Angeles Fire and Police Pensions (LAFPP) Chief Investment Officer (CIO) Mr. Ray Joseph has resigned for personal reasons, effective immediately. General Manager Raymond Ciranna stated that plans to fill the CIO are currently being developed.
In the meantime, Mr. Ciranna will fulfill the day-to-day responsibilities of the position until a replacement is appointed.
Election Results – Fire Department Employee Member Board of Fire and Police Pension Commissioners
LAFPP welcomes Rigo Arellano, the Fire Department Employee Member-elect, to the Board of Fire and Police Pension Commissioners! Mr. Arellano will be sworn-in during June 2022 to fulfill his fiduciary responsibilities as a Board member beginning July 1, 2022.
2022 Non-Medicare Subsidy Increase
The new approved amount for the non-Medicare health subsidy maximum is $2,046.97 per month, effective July 1, 2022.
2021 Active Member Annual Statements
Available in MyLAFPP!
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.
Ballot Mailing – Election – Fire Department Employee Member Board of Fire and Police Pension Commissioners
Ballots have been mailed to eligible voters on March 31, 2022.
March 2022 Active/DROP Newsletter Is Now Available!
We invite you to read our newsletter filled with announcements and benefit topics including our Enhanced Services, Virtual Webinars, and 2021 Annual Report.
LAFPP’S 2021 ANNUAL REPORT IS NOW AVAILABLE!
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, 2021.
Election – Board of Fire and Police Pension Commissioners Fire Department Employee Member
An Election to select the Fire Department Employee Member of the Board of Fire and Police Pension Commissioners (Board) is scheduled on April 19, 2022. The candidate elected will serve the term beginning July 1, 2022 and ending June 30, 2027.
2021 Tax Form 1099-R Now Available on MyLAFPP
The 2021 Form 1099-R is now available for retired members and beneficiaries on MyLAFPP. It is the easiest and fastest way to view and print your tax statement without waiting for delivery to your mailing address.
MEDICARE PART B PREMIUM REIMBURSEMENT FOR 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.
Special Election Results – Police Department Employee Member Board of Fire and Police Pension Commissioners
LAFPP welcomes Brian J. Churchill, the Police Department Employee Member-elect, to the Board of Fire and Police Pension Commissioners!
2021 Valuation Reports Approved
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.
MyLAFPP Scheduled Maintenance
MyLAFPP, our member self-service platform, will be undergoing routine maintenance. The site will be unavailable on Saturday, November 6, 2021 from 5:00 a.m. to 9:00 a.m. PST and access may be intermittent throughout the day.
We apologize for the inconvenience and thank you for understanding.
Ballot Mailing – Special Election – Police Department Employee Member Board of Fire and Police Pension Commissioners
Ballots will be mailed to eligible voters beginning on Tuesday, October 26, 2021.
Temporary Suspension of In-Person Appointments – UPDATE
For the safety of our members and staff, LAFPP’s offices will be closed to visitors until further notice. We recommend that you continue to check our website for the latest updates on the status of our in-person operations.
Termination of Active Service
Terminating employment with the City does not always mean a total loss of your contributions. Read more to learn about your options.
LAFPP ANNUAL RETURN
LAFPP is reporting a return of 32.56% for the fiscal year ending June 30, 2021, with assets totaling over $30.7 Billion.
Special Election – Board of Fire and Police Pension Commissioners Police Department Employee Member
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.
Commissioner Sumi Parekh Appointed to the Board
Effective September 14, 2021, Sumi Parekh was appointed to the Board of Fire and Police Pension Commissioners.
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.
6 Benefits of Virtual Counseling
Your health is important to us and we want to continue to help stop the spread of COVID-19. LAFPP offers virtual counseling sessions for members who are preparing to enter Service Retirement/DROP or exit DROP. Here are several key benefits as to why you should choose a virtual counseling session.
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!
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.
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.
2020 Form 1099-R Are Available on MyLAFPP
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.
LAFPP Cost of Living Adjustments (COLA)
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.
MEDICARE PART B PREMIUM REIMBURSEMENT FOR 2021
SPECIAL NOTICE: This article only applies to retired members 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 $148.50 effective January 1, 2021; however, you may pay a different amount determined by CMS.
Status of the Fund – January 2021
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.
Los Angeles Fire and Police Pensions CIO to Retire
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.
Status of the Fund – December 2020
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.
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.
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.
Fairview Capital and LAFPP: “Investing in Inclusion” Event
Press Release
Fairview Capital and Los Angeles Fire & Police Pensions (LAFPP) announce the inaugural “Investing in Inclusion” event on November 17, 2020 at 10:00 am PST. This webinar will be hosted by Fairview and will highlight LAFPP’s successful Private Equity Specialized Manager Program.
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.
Tier 6 – Pension Benefits Walkthrough
Tier 6 members, we have something NEW for you!
We created an easy-to-navigate web page to walk you through your pension benefits.
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.
2020 DROP Semi-Annual Statements – Now Available in MyLAFPP!
DROP Participants! View your DROP Semi-Annual Statements in MyLAFPP.
2019 Active Member Annual Statements – Available in MyLAFPP!
Active members! View your 2019 Annual Member Statements in MyLAFPP.
Election of 2020-2021 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 July 16, 2020, the Board elected Brian Pendleton as President and Ken Buzzell as Vice President.
Commissioner Adam Nathanson Re-Appointed to the Board
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.
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.
A Message from the Board of Fire and Police Pension Commissioners
Our response to Members who are concerned regarding the financial strength of the LAFPP fund in light of the COVID-19 pandemic.
LAFPP Fund Status and Commitment
Daily, the news is focused on the COVID-19 pandemic, stock market volatility, the nation’s recession, and the protests for social justice changes. These issues are at the forefront of our lives and given the importance of each of these issues, we know that resolution will take time. However, we want to remind you that LAFPP continues our commitment to administer your pension benefits during these challenging times.
Board Adopts 7.00% Rate of Return
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.
Election Results – Fire Department Retired Member Board of Fire and Police Pension Commissioners
Congratulations, Commissioner Buzzell!
Commissioner Buzzell received 97.04% of the vote and will serve the term of office from July 1, 2020 until June 30, 2025.
Election Results – Police Department Employee Member Board of Fire and Police Pension Commissioners
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.
LAFPP Offices Are Closed Temporarily
In accordance with Governor Newsom’s Executive Order N-33-20 (Stay at Home Order) and Mayor Garcetti’s “Safer At Home” Emergency Order, our offices will be closed to all visitors until further notice and only essential services will continue as follows:
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.
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.
Retiree Form 1099-R – UPDATE and FAQs
Updated: February 28, 2020
All 1099-R tax forms have been posted to MyLAFPP for viewing and downloading. Read more on how to access your 1099-R on MyLAFPP.
Ballot Mailing – Police Department Employee Member Board of Fire and Police Pension Commissioners
Ballots will be mailed to eligible voters beginning on Friday, February 21, 2020.
TAX SEASON – 1099-R INFORMATION
As you prepare to file your taxes, here’s how to obtain your 2019 Tax Form 1099-R information
TAX WITHHOLDING TABLES FOR 2020
Federal and CA state income tax withholding tables were updated for the 2020 tax year. Starting with the January 31, 2020 pension payment, you may see a change in your taxes withheld.
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.
MEDICARE PART B PREMIUM REIMBURSEMENT FOR 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.
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.
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.
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.
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:
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:
Another Step Towards Customer Service Efficiency
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.
Election of 2019-2020 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 July 18, 2019, the Board elected Adam Nathanson as President and Brian Pendleton as Vice President.
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.
MyLAFPP – DROP Member Status
Members who entered DROP between October 2018-February 1, 2019
Due to the high volume of applicants prior to the February 1, 2019 amendments, recent DROP enrollees may find variations of their status in MyLAFPP.
FAREWELL COMMISSIONER GEORGE ALIANO
On June 20, 2019, George Aliano attended his last official meeting as Commissioner of the Board of Fire and Police Pensions (Board).
RUNOFF ELECTION RESULTS POLICE DEPARTMENT RETIRED MEMBER BOARD OF FIRE AND POLICE PENSION COMMISSIONERS
LAFPP welcomes Commissioner Garrett W. Zimmon, the Police Department Retired Member-elect of the Board of Fire and Police Pension Commissioners! Commissioner Zimmon will be sworn into office in early July 2019 to fulfill his fiduciary responsibilities as a Board member.
The new MyLAFPP is here!
The new MyLAFPP has officially been launched! Active, DROP and Retired Members plus beneficiaries have convenient access to personalized benefit information and services all in one pension administration system.
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.
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.
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.
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
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We apologize for the inconvenience and expect this to be resolved soon. We recommend our users to try again at a later time.
Medicare Part B Premium Reimbursement For 2019
Retired members and qualified survivors can receive reimbursement for their Part B premiums if they are eligible for a health subsidy and are enrolled in both Medicare Parts A and B.
Passing of 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.
New DROP Requirements Are in Effect
As of February 1, 2019
The following new requirements will affect any member who enters DROP on or after February 1, 2019:
LAFPP PENSION PAYMENTS
NEW LOOK
Your January 31, 2019 pension payment was processed from PARIS, our new pension administration system, which we announced to our members in December. Your monthly pension check or direct deposit advice for January 2019 will have a new look and will provide more information about pension earnings and deductions.
2018 Annual Report
The 2018 Annual Report for Los Angeles Fire and Police Pensions is available online!
LAFPP is pleased to present the 2018 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, 2018.
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.
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.
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:
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.
Election of 2018 – 2019 Board Officers
Each year, the Board of Fire and Police Pension Commissioners elects its Officers of the Board during the second meeting in July. On July 19, 2018, the Board elected Commissioners Corinne T. Babcock and Adam Nathanson as the new President and Vice President, respectively.
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.
Special Election Results – Police Department Employee Member of the Board
LAFPP welcomes Commissioner Paul M. Weber, the Police Department Employee Member of the Board of Fire and Police Pension Commissioners!
LAFPP Reports a Return of 9.91% for the Fiscal Year Ending 2017-18
LAFPP assets totaled $22.32 billion at the end of the fiscal year.
Access To Drop Funds Reminder!
DROP funds rolled over to the City’s Deferred Compensation Plan may not be subject to a tax penalty!
Drop Semi-annual Statements As Of June 30, 2018 Are Available Online!
Log in to MyLAFPP to view this statement.
2018 Non-Medicare Subsidy Increase
The Board approved a 6% increase to the non-Medicare health subsidy.
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.
2017 Annual Active Member Statements
Active members! Your 2017 Annual Active Member Statements are available in MyLAFPP.
Building Access with ID & Parking Reminders
If you have an upcoming appointment or need to stop by the LAFPP offices, plan ahead for your visit.
Update to Federal Income Tax Withholding Tables
The federal income tax withholding tables have been updated for the 2018 tax year, starting with the February 28, 2018 payment.
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:
DROP Semi-Annual Statements as of December 31, 2017 are Available Online!
Log in to MyLAFPP to view this statement.
LAFPP Welcomes the Airport Peace Officers!
We are pleased to welcome our new members from the Airport Department!
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.
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.
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.
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.
LAFPP Reports a Return of 13.27% for the Fiscal Year Ending 2016-17
LAFPP is reporting a return of 13.27% for the fiscal year ending June 30, 2017. LAFPP assets totaled $20.64 billion at the end of the fiscal year.
Health Insurance Premium Reimbursement Program (HIPR) Changes
Recent actions taken by the Los Angeles Fire and Police Pensions Board of Commissioners and the Los Angeles City Council have resulted in changes to the HIPR program effective April 1, 2017.
2017 Annual Member Survey – Highlights
Check out the results from the 2017 Annual Member Survey!
Retired Fire Board Member Election Results
LAFPP welcomes Commissioner Kenneth Buzzell, the newly-elected Fire Department Retired Employee Member of the Board of Fire and Police Pension Commissioners!
Farewell Commissioner Sam Diannitto
September 20, 2017 marked Sam Diannitto’s last meeting as a Commissioner of the Board of Fire and Police Pension Commissioners.
Commissioner Pedram Salimpour, MD Re-Appointed to the Board
On July 26, 2017, the City Council confirmed Mayor Garcetti’s reappointment of Pedram Salimpour, MD to the Board of Fire and Police Pension Commissioners (Board) for a second term beginning July 1, 2017 through June 30, 2022.
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.
Election of 2017-2018 Board Officers
On July 20, 2017, the Board elected Commissioners Ruben Navarro and Corinne Babcock as the new President and Vice President, respectively.
Special Election Fire Department Retired Member Board of Fire and Police Pension Commisssioners
A Special Election is scheduled for Tuesday, September 19, 2017, to fill the position of Fire Department Retired Member of the Board of Fire and Police Pension Commissioners.
Non-Medicare Subsidy Increase
Update: The Board approved a six percent increase to the non-Medicare health subsidy.
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.
Board Review of Retiree Health Plans and Subsidy Program
Update as of 6/21/18: The Board discussed the status of pending contracts between LAFPP and LAFRA, LAPRA, UFLAC and PPL.
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.
Results of the Active Fire Board Member Election
Commissioner Ruben Navarro will serve the term of office from July 1, 2017 until June 30, 2022. Congratulations Commissioner Navarro!
Verify the Status of Your Pension Savings Plan Contributions
If you were in the Drill Tower or Police Academy training in 1994 to the present, you made mandatory contributions to the City’s Pension Savings Plan for part-time, seasonal and temporary employees.
March 2017 Active/DROP Member Newsletter
Pension Perspectives Newsletter for Active and DROP Members.
Member Alert Regarding Alleged Predatory Pension Loan Businesses
Persons receiving monthly pensions, including LAFPP retired members, may be targeted by salespersons offering immediate cash in exchange for rights to future retirement or disability retirement payments.
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.
Your 2016 Benefit Statement is Now Available!
Active members, log in to MyLAFPP to view and/or print your 2016 Annual Benefit Statement.
Public Notice – Mural Proposal Meeting
A Mural Proposal Meeting will be taking place on March 28, 2017 at 6:30 p.m., at LAFPP Headquarters, 701 E. 3rd Street, STE 400.
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.
Fire Department Employee Member of the Board Election – Notice of Intent
A general election to select the Fire Department Employee Member of the Board of Fire and Police Pension Commissioners (Board) is scheduled on Tuesday, April 25, 2017.
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.
Dallas Freezes Deferred Retirement Option Plan (DROP) Withdrawals
Update as of 3/15/17 – The Dallas Police and Fire Pension Board of Trustees (DPFP) released a statement that a revised DROP policy was adopted on January 17, 2017.
Pension Funded Ratio Increases to 93.9%
Based on the actuarial report for the period ending June 30, 2016, the pension benefit funded ratio has increased from 91.5% to 93.9%.
Medicare Part B Premium Reimbursement for 2017 – ACTION REQUIRED
If you are currently eligible to receive a reimbursement for your Medicare Part B premium, you will need to provide LAFPP with documentation indicating how much you will pay for your Part B premium in 2017 in order for us to apply the correct reimbursement amount in your pension check.
November 2016 Active/DROP Member Newsletter
Pension Perspectives Newsletter for Active and DROP Members.
2017 Health & Dental Subsidy Updates
Effective January 1, 2017, the maximum Medicare Health Subsidy will increase to $505.93, and the Dental Subsidy will increase to a maximum of $44.60.
2016 Annual Member Survey Highlights
Check out the results from the 2016 Annual Member Survey!
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.
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.
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.
DROP Semi-Annual Statements as of June 30, 2016 Now Available!
Log in to MyLAFPP to view this statement.
Parking Now Available for LAFPP Members
LAFPP now offers on-site parking with validation for our LAFPP members conducting business with staff at our offices located at 701 E. 3rd Street.
June 2016 Retired/DROP Member Newsletter
Pension Perspectives Newsletter for Retired and DROP Members.
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.
Important Information for LAFPP Retirees Filing as California Tax Filers
Update as of 6/14/2016
2015 Active Member Annual Statements
Active members in Tiers 2 – 6 can now log in to MyLAFPP to view and/or print their 2015 Annual Active Member Statement.
February 2016 Active/DROP Member Newsletter
Pension Perspectives Newsletter for Active and DROP Members.