Board - News

The Board of Administration held its annual Off-site Presentation on January 16-17 at the Biltmore Hotel in Downtown Los Angeles. This yearly event allows LACERS to present the past year’s results, develop new goals for the current year, and receive input from the Board regarding the Department’s overall goals and strategic plan.

On May 1, Commissioner Moctesuma Esparza received the Hispanic Outreach Taskforce’s Positive Image Award for his outstanding leadership in the areas of education, business, community affairs, and humanities.

On June 6, Steven Uranga, Mayor Villaraigosa’s appointment to the Board of Administration, was confirmed by the City Council for a term ending June 30, 2010.

Commissioner Eric L. Holoman has been reappointed to the LACERS Board of Administration for a term ending June 30, 2012.

The money in LACERS fund comes from three sources: Member contributions, contributions from the City of Los Angeles, and earnings from LACERS investments. The following chart shows the sources of the trust fund additions for the fiscal year ended June 30, 2006. An overwhelming majority of the money that is used to fund retirement and post-employment health benefits comes from investments as indicated in this chart.