|
The Los Angeles City Employees' Retirement System (LACERS, or the System) general investment goals are consistent with the City Charter citations and State Constitution and are stated below:
- The overall goal of the System's investment assets
is to provide plan participants with post-retirement benefits as
set forth in the System documents. This will be accomplished through
a carefully planned and executed investment program.
- The System's investment program shall at all times
comply with existing and future applicable city, state, and federal
regulations.
- All transactions undertaken will be for the sole
benefit of the System's participants and beneficiaries and for the
exclusive purpose of providing benefits to them and defraying reasonable
administrative expenses associated with the System.
- The System has a long-term investment horizon,
and utilizes an asset allocation which encompasses a strategic, long-run
perspective of capital markets. It is recognized that a strategic
long-run asset allocation plan implemented in a consistent and disciplined
manner will be the major determinant of the System's investment performance.
- Investment actions are expected to comply
with "prudent person" standards
as described:
"... with the care, skill, prudence, and diligence
under the circumstances then prevailing that a prudent man
acting in a like capacity and familiar with such matters would
use in the conduct of an enterprise of a like character and
with like aims."
|
|
