Category: Board News

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.

ELECTION NOTIFICATION

An election to select the Police Department Retired Member of the Board of Fire and Police Pension Commissioners (Board) is scheduled on February 23, 2024. The candidate elected will serve the term beginning July 1, 2024 and ending June 30, 2029.

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 $29 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 retired, sworn Los Angeles Police Department 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 attached Notice of Intent form which was mailed with this 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. The Occupational Ballot Designation will be printed under the candidate’s name and should 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 may include information on education, work experience, years of service, date of retirement, and other relevant qualifications and shall not exceed 300 words in length.

Starting at 8:00 a.m. (PT) on December 13, 2023, candidates who wish to qualify for the ballot are required to provide the following documents: 1) Notice of Intent; 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: Candidates may hand deliver the completed forms by visiting the Office of the City Clerk – Election Division (Election Division) 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 this 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 Election Division by the deadline of 5:00 p.m. (PT) on December 22, 2023.

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 Election Division. Ballots received any other way will NOT be accepted. All completed ballots must be received by the Election Division by 5:00 p.m. (PT) on February 23, 2024 to be counted.

Sworn, retired members of the Los Angeles Police Department who become eligible within 30 days prior to the Election and wish to vote in the Election should obtain a Certificate of Eligibility (Certificate) from the Department of Fire and Police Pensions (LAFPP). LAFPP is located at 701 E. Third Street, Suite 200, Los Angeles, CA 90013. Beginning at 8:00 a.m. (PT) on February 13, 2024, after securing a Certificate, the newly eligible voter may present themselves in person at the Election Division and receive a ballot.

The ballots will be tallied on February 27, 2024 in the presence of the observers designated by each candidate. The Election Division will furnish to the Board the official certified results of the election within 14 days after the date of election. In the event that no candidate receives a majority of all votes cast in the initial election, a runoff election shall be conducted on Friday, April 19, 2024 for the two (2) candidates receiving the highest number of votes.

QUESTIONS – Inquiries regarding the election process may be directed to the 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.

Effective May 2, 2023, Raul Perez was appointed by Mayor Karen Bass and confirmed by the City Council to serve the remaining term ending June 30, 2023, for the seat vacated by former Commissioner Megan M. Hernandez. This is Commissioner Perez’s second appointment to the Board of Fire and Police Pension Commissioners. Commissioner Perez was first appointed by former Mayor Antonio Villaraigosa and served on the Board between September 2009 and April 2013.

Congratulations, Commissioner Perez!

An election to select the Police Department Retired Member of the Board of Fire and Police Pension Commissioners (Board) is scheduled on February 23, 2024. The candidate elected will serve the term beginning July 1, 2024 and ending June 30, 2029.

Only retired, sworn Los Angeles Police Department members of the System are eligible to run and vote for this Board seat. Retired, sworn members of the Los Angeles Police Department who become eligible within 30 days prior to the Election and wish to vote in the Election should obtain a Certificate of Eligibility (Certificate) from the Department of Fire and Police Pensions (LAFPP).  LAFPP is located at 701 E. Third Street, Suite 200, Los Angeles, CA 90013. Beginning at 8:00 a.m. (PT) on February 13, 2024, after securing a Certificate, the newly eligible voter may present themselves in person at the Office of the City Clerk – Election Division and receive a ballot.

All completed ballots must be received by the Office of the City Clerk Election Division by 5:00 p.m. (PT) on February 23, 2024 to be counted. 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. The Election Calendar will be available at the end of November.

Each year in July, the Board of Fire and Police Pension Commissioners elects its Officers of the Board to serve one-year terms. On July 20, 2023, the Board elected Sumi Parekh as President and Garrett Zimmon as Vice President.

As President, Commissioner Parekh will exercise the following duties:

• Approve the Board agenda; preside at all Board meetings, ensure that 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;
• Determine who will act as spokesperson for the System should the need arise; and,
• Approve the travel expenses incurred by the General Manager and the Board.

As Vice President, Commissioner Zimmon will assume the duties of the Board President when the President is absent or if the President should delegate the Vice President to act. The Vice President will also assume the duties of the President if the President becomes unable to carry out their duties.

Congratulations to Commissioners Parekh and Zimmon as they begin their new roles with the Board!

Los Angeles Fire and Police Pensions (LAFPP) is pleased to welcome new Chief Investment Officer Bryan Fujita. After an extensive search for a new Chief Investment Officer (CIO) by EFL Associates, General Manager Joseph Salazar selected Mr. Fujita as the new CIO replacing Ray Joseph, who resigned from LAFPP in May 2022.

Bryan will lead LAFPP’s investment team managing nearly $30 billion in assets. He brings over 22 years of both public and private investment experience to LAFPP, serving the last 10 years as the Deputy Chief Investment Officer at the Los Angeles City Employees’ Retirement System.

Mr. Salazar shared, “I am delighted to welcome Bryan to our executive team and am confident that he will enhance LAFPP’s Investment Program amidst a constantly evolving economic environment, with the ultimate goal of serving and protecting the retirement benefits of the Plan’s public safety members.”

Previously, Mr. Fujita served as Corporate Treasury Associate at the Walt Disney Company, managing equity and fixed income investments of the company’s then $4.5 billion pension fund. He also served as Client Banking Investment Executive and Assistant Vice President of Wealth Management at Wedbush Securities, managing investment portfolios for high net worth clients.

About LAFPP

Los Angeles Fire and Police Pensions is dedicated to administering the defined benefit retirement plan for all sworn (Fire, Police, and certain Port Police and Airport Police) employees of the City of Los Angeles. The fund is currently valued at over $29.4 billion in assets and serves over 26,600 members and beneficiaries.

EFL Associates

Daniel Cummings of EFL Associates assisted LAFPP in the nationwide search for the CIO.

Effective July 1, 2023, Commissioner Raul Perez was re-appointed by Mayor Karen Bass and confirmed by the City Council to serve a new five-year term ending June 30, 2028. Commissioner Perez was first appointed to the Board of Fire and Police Pension Commissioners by former Mayor Antonio Villaraigosa and served on the Board between September 2009 and April 2013. He was recently appointed by Mayor Karen Bass in March 2023 to serve the unexpired term of a former Commissioner.

Congratulations on your re-appointment, Commissioner Perez and thank you for your continued service!

Additional information on all current Commissioners may be found on our website at: www.lafpp.com/commissioners

Each year in July, the Board of Fire and Police Pension Commissioners elects its Officers of the Board to serve one-year terms. On June 3, 2021, the Board authorized a one-time waiver of its Governance Policies that limit the current President and Vice President from serving more than one term consecutively, in order for the current President and Vice President to be eligible to serve one additional term as Board Officers if elected by a majority vote of the Board. On July 15, 2021, the Board re-elected Brian Pendleton as President and Kenneth E. Buzzell as Vice President.

As President, Commissioner Pendleton will exercise the following duties:

• Approves the Board agenda; presides at all Board meetings, ensuring that 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 will act as spokesperson for the System should the need arise; and,
• Approves the travel expenses incurred by the General Manager and the Board.

As Vice President, Commissioner Buzzell will assume the duties of the Board President when the President is absent or if the President should delegate the Vice President to act. The Vice President will also assume the duties of the President if the President becomes unable to carry out their duties.

Congratulations to Commissioners Pendleton and Buzzell as they continue their roles with the Board!

Effective July 1, 2021, Commissioner Belinda M. Vega was re-appointed by Mayor Eric Garcetti and confirmed by the City Council to serve a new five-year term ending June 30, 2026. Commissioner Vega was first appointed to the Board of Fire and Police Pension Commissioners in October 2012 to serve the unexpired term of a former Commissioner and served as the Board President for a one-year term ending July 2015.

Congratulations on your re-appointment, Commissioner Vega and thank you for your continued service!

Additional information on all current Commissioners may be found on our website here.