The Los Angeles City Employees’ Retirement System (“LACERS”) is a department of the City of Los Angeles, established by City Charter in 1937, to provide a retirement benefits to the civilian employees of the City of Los Angeles, representing three-fifths of the City’s workforce. The remaining two-fifths of the City’s workforce have retirement benefits through the Department of Water and Power Employees Retirement System
, or the Los Angeles Fire and Police Pension
. Currently LACERS provides services to over 25,000 active employees, and provides benefits to 17,000 retirees and their beneficiaries. LACERS administers the benefits approved by the City (the “plan sponsor”) which includes payment of $771 million in annual pension benefits (estimated as of 6/30/11), administration of retiree health care premiums of approximately $98 million annually, and management of the pension fund portfolio of $10.2 billion (as of 12/31/11) to offset payment of these obligations.
Service to our members is first and foremost, not only because we are bound by our fiduciary duty
*, but also because every Board member and staff at LACERS is committed to our mission to establish a trustworthy lifelong relationship with our members. We will develop this trust with our members through the reliable and efficient delivery of benefits and ensure that your benefits are funded by the prudent investment of plan assets. For more information about our strategic plan, click here