Month: July 2018

To view your DROP Semi-Annual Statement for the period ending June 30, 2018, 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 June 30.

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

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.

Prior to the election of officers, the Board discussed a revised election policy to ensure all members had an opportunity to serve as an Officer of the Board by granting seniority ranking to nominees.  The previous Board policy emphasized that the Board President position shall rotate each year between appointed and elected commissioners.

On September 6, 2018, after receiving public comment and further discussion in closed session, the Board unanimously approved a motion to change the Board Governance Policy as follows:

• Board members shall not serve more than one term consecutively as President or Vice President;
• The President is prohibited from being elected to the Office of Vice President immediately upon completion of their term as President; and,
• Board members shall have an open election system for officers.

The Policy language for these changes were subsequently approved by the Board on September 20, 2018.

In November 2013, Commissioner Babcock was appointed to the Board by Mayor Eric Garcetti and is currently serving her second term, which ends in June 2019. She served as Vice President for Fiscal Year 2017-18 and succeeds Commissioner Ruben Navarro, who served as Board President since July 2017.

The Board President provides leadership to the Board in overseeing the administration of the pension system; its assets, investments, actuarial services, rules and regulations. The primary responsibilities of the Board President are the following:

• Approves the Board agenda; presides at all Board meetings, ensuring that such meetings are conducted in an efficient manner and in accordance with the City Charter and Administrative Code, applicable public meeting laws, and relevant Board policies;
• Determines who shall act as spokesperson for the System should the need arise; and,
• Approves the travel expenses incurred by the General Manager and the Board, as appropriate.

As Vice President, Commissioner Adam Nathanson will assume the duties of the Board President when the President is absent or if the President should delegate the Vice President to act. He will also assume the duties of the President if the President is unable to carry out her duties. Commissioner Nathanson was appointed to the Board by Mayor Eric Garcetti in April 2015. He is currently serving his second term, which ends in June 2020.

Congratulations to Commissioners Babcock and Nathanson as they begin their new roles on the Board!