Month: April 2024

Police Officer Recruitment Incentive Program

Posted on by Stephen Bayutas

Refer a candidate to become an LAPD officer and receive $1,000 when they are hired, and $1,000 upon their graduation from the Police Academy. There is no limit to the number of candidates you can refer. Invite your candidate today, encourage them throughout the process, and very soon you’ll see the incentive added to your paycheck!

Retired City Employee Robert Long earned $2,000 with the Police Officer Recruitment Incentive Program. View the YouTube video to watch his story and learn how you can earn $2,000 too!

For more information on the Police Officer Recruitment Incentive Program go to https://www.joinlapd.com/apply/porip or email personnel.psbrecruitment@lacity.org

Election Results – Police Department – Retired Board Member

Posted on by Oscar Diaz

LAFPP congratulates Garrett W. Zimmon, the Police Department Retired Member-elect, on his re-election to the Board of Fire and Police Pension Commissioners! Mr. Zimmon will be sworn in before the end of June 2024 to continue to fulfill his fiduciary responsibilities as a Board member beginning July 1, 2024.

Commissioner Zimmon’s term on the Board of Fire and Police Pension Commissioners (Board) as the Police Department Retired Member is set to expire on June 30, 2024. In accordance with Section 23.103.2(b) of the Los Angeles Administrative Code, the Board authorized the Office of the City Clerk to conduct an election on Friday, February 23, 2024. The candidate receiving a majority of all votes cast (at least 50% plus one vote) is then declared elected as the Police Department Retired Member of the Board.

Commissioner Zimmon received 91.87% of the vote, a majority, and as such is elected to serve the term of the Police Department Retired Member of the Board beginning July 1, 2024 through June 30, 2029. Congratulations Commissioner Zimmon!

For a current list of Commissioners, please view the Board Directory. If you have any questions concerning the election results, please contact LAFPP’s Administrative Services Section at (213) 279-3080.

2024 Cost of Living Adjustment is 3.4%

Posted on by Elizabeth Trevizo

The Cost-of-Living Adjustment (COLA) is 3.4% for 2024 and was approved by the Board of Fire and Police Pension Commissioners on April 18, 2024. The COLA will be effective July 1, 2024, and all eligible pensioners and Deferred Retirement Option Plan (DROP) participants will receive an increase beginning with the pension payment/DROP account deposit dated July 31, 2024. For new pensioners and DROP entrants in Tiers 3-6, the first year’s COLA is prorated based on the number of complete months since the pension effective date, therefore these members may not receive the full 3.0%.

  • Tiers 1 & 2 retirees and beneficiaries will receive 3.4%.  Tier 2 DROP participants will receive 3.0%.
  • Tiers 3 & 4 retirees, beneficiaries, and DROP participants will receive up to 3.0%. 
  • Tiers 5 & 6 retirees, beneficiaries, and DROP participants will receive up to 3.0% and the remaining 0.4% will be stored in the COLA bank*, which can be applied in future years when the CPI is below 3%. 

*Must have retired or entered DROP with a pension effective date prior to June 2, 2024, in order to have an available COLA bank balance.

Consumer Price Index/Bureau of Labor Statistics

The COLA is based on the annual change in the Consumer Price Index (CPI) as published by the U.S. Bureau of Labor Statistics (BLS). Pursuant to the City of Los Angeles Charter/Administrative Code, the 2024 COLA was calculated based on the Los Angeles-Long Beach-Anaheim area using a 12-month period from March 2023 through February 2024.

How does this affect LAFPP Pensioners?

This is an example of how a monthly pension benefit of $6,000 would be affected by this year’s COLA of 3.4%:  

For Tiers 1 – 2 

If 3.4% of $6,000 = $204.00

($6,000 x 0.034) ($6,000 + $204.00) 

Then the monthly pension benefit increases to $6,204.00 

For Tiers 3 – 6 

If 3.0% of $6,000 = $180.00 

($6,000 x 0.030) ($6,000 + $180.00) 

Then the monthly pension benefit increases to $6,180.00 

Discretionary COLA

The Board also approved sending a letter to the Los Angeles City Council requesting a 3.45% Discretionary Cost of Living Adjustment (DCOLA) for eligible pensioners of Tiers 3,4, 5 and 6.  As established in Charter Sections 1516(c), 1616(c), 1716(c), and Administrative Code Section 4.2016(c):

  1. An adjustment can be made no more than once every three years for the prior three-year period and is prorated on a monthly basis;
  2. The adjustment for Tier 5 and Tier 6 pensioners is withdrawn from the individual’s COLA bank;
  3. The adjustment can be no greater than one-half (1/2) of the difference between the CPI and the actual increase granted for each of the preceding three years;
  4. An actuarial report of the cost of the proposed increase must be obtained and published by the Board’s actuary prior to the Council adopting the ordinance;
  5. The City Council must adopt an ordinance providing for this adjustment by a two-thirds (2/3) vote. The Council cannot adopt the ordinance unless 30 days have passed since its presentation to the Council and after a public hearing thereon. The ordinance must be published by November 30 and becomes effective the following January 1; and,
  6. Adjustments are not retroactive.

Questions?

For questions regarding the COLA, please contact the Retirement Services Section at (213) 279-3125, (844) 88-LAFPP, ext. 3125, or via email at RS@lafpp.com.  

For detailed information on the calculation of the CPI, please visit the BLS website at www.bls.gov/cpi or call (202) 691-7000. 

2023 Active Member Annual Statements

Posted on by Elizabeth Trevizo

Available in MyLAFPP!

Active members (excluding DROP participants)! View your 2023 Annual Member Statement in MyLAFPP.

View and/or print your 2023 Annual Statement online. This statement summarizes your individual pension-related information as of December 31, 2023, including service credit, pension estimates (if eligible to retire), contributions and interest, spouse or domestic partner information, and beneficiary designation.

Follow these steps to access your statement:

  1. Log in to MyLAFPP. 
  2. Click on Forms & Correspondence.
  3. Click on Statements.
  4. Click on the word “Document” next to the paperclip symbol. Your statement is provided in a PDF format.

If you have not signed up or have questions regarding MyLAFPP, please visit our MyLAFPP Help Desk.

For questions concerning your statement or copies of your Annual Statements for years prior to 2018, please contact the Active Member Services Section at (213) 279-3140 or by email at amssection@lafpp.com.