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

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.