Newsroom
February 2016 Active/DROP Member Newsletter
Pension Perspectives Newsletter for Active and DROP Members.
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.
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.
Los Angeles Fire and Police Pensions is Moving to a New Location
LAFPP is open for business at our new location. The new address is 701 East 3rd Street (NE corner of East 3rd Street & Alameda Street) in the downtown Arts District.
Important Changes Regarding Medicare for 2016
The maximum monthly Medicare Health Insurance Subsidy for LAFPP pensioners enrolled in Medicare Parts A and B is decreasing by $35.54 in 2016.
Protect Your Online Identity
Take preventative steps to protect your personal & sensitive information.
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.
October 2015 National Retirement Security Resolution – City of Los Angeles Deferred Compensation Plan
Each October the United States Congress adopts a resolution to help raise public awareness about the importance of preparing for a secure retirement. This annual event provides an opportunity for our active and retired members to reflect on how they can create and maintain retirement security.
Important Change in Tax Law Regarding DROP & Your Deferred Compensation Plan Account
Good news! Recent changes to the Internal Revenue Code now provide a waiver of the existing 10% penalty tax on early distributions of Deferred Retirement Option Plan (DROP) funds rolled over to your Deferred Compensation Account.
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.
August 2015 Retired/DROP Member Newsletter
Pension Perspectives Newsletter for Retired and DROP Members.
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.
Recent Commitments to the Emerging and Diverse Manager Program
LAFPP recently selected seven new emerging managers in the fixed income, large cap, small cap and micro cap asset classes, based on multiple searches initiated over the past year.
June 2015 Active/DROP Member Newsletter
Pension Perspectives Newsletter for Active and DROP Members.
Active Police Board Member Election Results
Commissioner von Voigt received 96.67% of the vote and will serve the term of office from July 1, 2015 until June 30, 2020.
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!
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.
2014 Annual Report
As of June 30, 2014, the System’s assets grew to over $15.75 billion on a market basis, while serving over 25,600…
February 2015 Retired Newsletter
Pension Perspectives Newsletter for Retired Members.
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.
December 2014 DROP Member Statements Are Available!
To view your DROP Semi-Annual Statement for the period ending December 31…