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.
Month: February 2021
2020 Annual Report
The 2020 Annual Report for Los Angeles Fire and Police Pensions is available online!
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.
Some of the highlights in this year’s report include:
- The System serves approximately 27,352 members, including active, DROP, deferred vested, and retired members and beneficiaries.
- Pension benefits were actuarially funded at 93.2% (change of -0.4%) and health subsidy benefits were funded at 59.7% (change of +3.5%). The combined funded status for pension and health benefits is 88.6% (change of 0.1%).
- System assets totaled $23.5 billion on a market value basis.
- The investment rate of return for Fiscal Year 2019-20 was 3.04%.
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 adhere to 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 on our website under Financial Reports.