LAFPP ANNUAL RETURN

LAFPP is reporting a return of 32.56% for the fiscal year ending June 30, 2021, with assets totaling over $30.7 Billion.

The 32.56% return exceeded LAFPP’s target allocation index of 29.97% by 259 basis points. Investment returns were led by LAFPP’s strong performance in the domestic equities and international equity markets, which generated returns of 46.54% and 40.00%, respectively.

The 32.56% return is above the Fund’s actuarial assumed rate of return of 7.00%, which is the long-term return required to meet current and future obligations for members. Over the longer term, LAFPP’s performance has outperformed its benchmark and ranks in the top quartile versus peers over the three-, five-, seven-, and ten-year periods.

LAFPP’s 10-year investment return is 9.95%, and the 20-year return is 7.91%. LAFPP has a long-term investment horizon and uses an asset allocation encompassing a long-term strategic perspective of the capital markets.

LAFPP is one of the largest public safety pension funds in the United States. The Plan administers retirement and health subsidy benefits for over 26,000 current and retired public safety employees and their beneficiaries for the City of Los Angeles. More information is available at About LAFPP.

Commissioner Sumi Parekh Appointed to the Board

Effective September 14, 2021, Sumi Parekh was appointed by Mayor Eric Garcetti and confirmed by the City Council to serve the remaining term ending June 30, 2024 for the seat vacated by former Commissioner Corinne T. Babcock. This is Commissioner Parekh’s first appointment to the Board of Fire and Police Pension Commissioners.

Congratulations on your appointment, Commissioner Parekh!

Special Election – Board of Fire and Police Pension Commissioners Police Department Employee Member

A Special Election to select the Police Department Employee Member of the Board of Fire and Police Pension Commissioners (Board) is scheduled on November 16, 2021. The candidate elected will serve the unexpired term beginning February 1, 2022 and ending June 30, 2025.

BOARD MEMBER DUTIES – The Board exercises the prudent person standard in the discharge of its duties. It has sole and exclusive fiduciary responsibility to administer the Fire and Police Pension System (System) and its assets; has the authority to set and adopt investment policies for over $31 billion in fund assets; and has the duty to establish actuarial assumptions and adopt rules and regulations necessary to administer the System.

Preparation for regular and special meetings requires an individual to commit hours of advanced reading of Board Reports and disability cases. The Board normally meets on the first and third Thursdays of each month at 8:30 a.m. (PT). Most meetings are from three to four hours.

ELECTION PROCESS – Only active, sworn Los Angeles Police Department (LAPD) members of the System are eligible to run and vote for this Board seat. Members who are interested in becoming a candidate are required to complete and submit the Notice of Intent form which was mailed with the Election Notification. Signature gathering by eligible members is not required to run as a candidate.

Along with the Notice of Intent, the candidate has the option to submit an Occupational Ballot Designation and a typewritten Statement of Qualifications for Office. The Occupational Ballot Designation will be printed under the candidate’s name and shall consist of three words to describe the following: (A) the current principal profession, vocation, or occupation of the candidate, or (B) the principal profession, vocation, or occupation of the candidate during the last calendar year immediately before the filing of the Notice of Intent to become a candidate. The Statement of Qualifications for Office may include information on education, work experience, years of service, and other relevant qualifications and shall not exceed 300 words in length. Any words beyond the 300 word limit will not be printed.

Starting at 8:00 a.m. (PT) on September 22, 2021, candidates who wish to qualify for the ballot are required to provide the following documents: 1) Notice of Intent to run for Office; 2) Occupational Ballot Designation (Optional); and 3) Statement of Qualifications for Office (Optional). The three (3) approved methods of submittal are detailed below. Documents received any other way will NOT be accepted.

  1. Hand Delivery (Appointment Only): Candidates may hand deliver the completed forms by scheduling an appointment with the Office of the City Clerk – Election Division by emailing Clerk.ElectionAdmin@lacity.org. Candidates will be provided with an appointment between the hours of 8:00 a.m. – 5:00 p.m. (PT). The Office of the City Clerk – Election Division is located at Piper Technical Center, 555 Ramirez Street, Space 300, Los Angeles, CA 90012.
  2. Mail: Candidates may submit the completed forms via U.S. Postal Service using the paid-postage envelope provided along with the Election Notification.
  3. Email: Candidates may submit the completed forms via email to Clerk.ElectionAdmin@lacity.org.

The completed Notice of Intent must be received by the Office of the City Clerk – Election Division by 5:00 p.m. (PT) on October 1, 2021.

Eligible voters will receive a ballot in the mail. Voters may choose to return their ballot via mail or may deposit it at the drop box located at the Office of the City Clerk – Election Division. Ballots received any other way will NOT be accepted. All completed ballots must be received by the Office of the City Clerk – Election Division by 5:00 p.m. (PT) on November 16, 2021 to be counted.

Sworn Employee Members of LAPD who become eligible within 30 days prior to the Special Election and wish to vote in the Special Election should obtain a Certificate of Eligibility (Certificate) from the Personnel Department. Beginning at 8:00 a.m. (PT) on November 5, 2021, after securing a Certificate, the newly eligible voter may contact the Office of the City Clerk – Election Division at (213) 978-0444 or by email at Clerk.ElectionAdmin@lacity.org to schedule an appointment to present themselves and receive a ballot.

The ballots will be tallied on November 18, 2021 in the presence of the observers designated by each candidate via livestream. The Office of the City Clerk – Election Division will furnish to the Board the official certified results of the election within 14 days after the date of election.

QUESTIONS – Inquiries regarding the election process may be directed to the Office of the City Clerk – Election Division at (213) 978-0444 or by email at Clerk.ElectionAdmin@lacity.org. Inquiries may also be directed to the Administrative Services Section of the Department of Fire and Police Pensions at (213) 279-3080.