Month: January 2018

To view your DROP Semi-Annual Statement for the period ending December 31, 2017, log in to MyLAFPP and click on the “DROP Statements” tab on the left. This statement provides your date of entry, mandatory date of exit and your account balance with interest credited on December 31.

For questions regarding your DROP Semi-Annual Statement, please contact the DROP/Service Pensions Section at (213) 279-3100.

All new Airport Peace Officers hired on or after January 7, 2018 will become LAFPP Tier 6 members, in accordance with a City Charter amendment approved by the voters in November 2016.  Prior to that date, Airport Peace Officers were members of the City’s civilian retirement plan known as the Los Angeles City Employees’ Retirement System or LACERS.  The Charter amendment also allowed Airport Peace Officers hired prior to January 7, the opportunity to transfer from LACERS to LAFPP by purchasing all of their prior City service.

We look forward to serving our new members in the years to come!

The 2017 Annual Report for Los Angeles Fire and Police Pensions is available online!

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.

Some of the highlights in this report are:

• The System serves approximately 26,537 members, including active, DROP, and retired members and beneficiaries.
• Pension benefits were actuarially funded at 91.5 percent and health subsidy benefits were funded at 49.3 percent, a decrease of 2.4 percent and increase of 1.2 percent respectively over the prior year. The combined funding status is 85.6 percent.
• System assets totaled over $20.6 billion on a market basis, up from $18.5 billion the prior year.
• The investment rate of return for Fiscal Year 2016-17 was 13.27 percent, which exceeded our actuarial assumed rate of return of 7.25 percent.

LAFPP continues to grow as an organization as we strive to be a leader and innovator in the public pension industry. The Board and staff continue to utilize prudent and sound investment strategies to grow and protect Plan assets over the long-term to secure the retirement benefits of our members.

In addition to this report, our historical annual reports, actuarial valuations, and financial statements are available from the Financial Reports link in the About LAFPP section of our website.