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LACERS News Archive

Jun. 27, 2017
Jaime Lee Sworn In For Second Term
Board President, Jaime L. Lee, was re-appointed to the Board of Administration by Mayor Eric Garcetti and confirmed by the Los Angeles City Council for the term ending June 30, 2022.  Commissioner Lee was sworn in by the City Clerk on June 23, 2017 at City Hall.  She has served on the Board since 2014. Click here to view more.

Jun. 8, 2017
LACERS Seeks Candidates for General Manager
Please click here for more information.

Jun. 8, 2017
LACERS General Manager Announces Retirement
General Manager Tom Moutes has announced his retirement effective at the end of the year. Mr. Moutes has served with LACERS since 2001.  He has served as General Manager since 2010.

Apr. 5, 2017
Member Alert Regarding Allegedly Predatory Pension Loan Businesses
Persons receiving monthly pensions, including LACERS Retired Members, may be targeted by salespersons offering immediate cash in exchange for rights to future retirement or disability retirement payments. These pension loans, or “advances,” may be offered with unlawful or unfair terms, including exceedingly high interest rates and fees.  Los Angeles City Attorney Mike Feuer has filed a lawsuit against an individual and multiple companies allegedly involved in a predatory lending scheme targeting vulnerable California pensioners. Click here to read more.

Mar. 30, 2017
Council Adopts Ordinance Authorizing Airport Peace Officers to transfer to Tier 6 of the LAFPP at their own expense or receive enhanced benefits from LACERS
Click here for the council file and draft ordinance.

This ordinance will take effect in January 2018.

Feb. 9, 2017
LACERS Pension Symposium
On February 9th, LACERS hosted a Pension Symposium.  Click here for the Symposium presentations.

Nov. 18, 2016
Open Enrollment Ends and Retiree Health Plan Changes Become Effective January 1, 2017
LACERS’ Open Enrollment period ended November 17 and health plan changes can no longer be made for the 2017 calendar year. Unless there is a qualifying event, the next opportunity to make changes to your LACERS health plan will be during the Open Enrollment period for 2018. For more information about qualifying events, contact LACERS at (800) 779-8328 or visit www.lacers.org/retired to view the 2017 Health Benefits Guide (pages 5-6).

Reminder: Any health plan changes you made during the Open Enrollment period become effective January 1, 2017 and your first monthly health plan premium deduction for 2017 will begin with your December 2016 LACERS Retirement Allowance.

Jul. 19, 2016
Annie Chao Sworn in as Commissioner of LACERS Board
In a special election, Annie Chao was elected to the Board of Administration of the Los Angeles City Employees’ Retirement System by Active LACERS Members for the term ending June 30, 2018. Commissioner Chao was sworn in by the Los Angeles City Clerk, Holly Wolcott, in the Ken Spiker LACERS boardroom on July 12, 2016.  Click here for more information. 

Jul. 19, 2016
Former Board Commissioner Rick Rogers Receives Award of Appreciation
At the July 12, 2016 LACERS Board meeting, Board president, Jaime Lee, presented Rick Rogers with an award of appreciation for nearly 13 years of service as former Commissioner and Board President of the LACERS Board.  Click here for more information. 

Jul. 7, 2016
Annie Chao Wins Special Election for Active Employee Member of the LACERS Board of Administration
The City Clerk has certified the election results for the Active Employee Member of the Board of Administration.  Annie Chao has been elected to the Board of Administration for the term ending June 30, 2018.  Click here to see official results of the special election. 

Jun. 29, 2016
Special Election for Employee Member of Board Update
The City Clerk has tallied the ballots for the Elected Employee Member of the Board of Administration.  Based on unofficial results, Annie Chao received the most votes.  The City Clerk has until July 8, 2016 to certify official results to LACERS Board of Administration. 

Jun. 28, 2016
Sung Won Sohn Sworn In For Second Term
Sung Won Sohn’s re-appointment to the Board of Administration by Mayor Eric Garcetti was confirmed by the Los Angeles City Council for the term ending June 30, 2021.  Commissioner Sohn was sworn in by the City Clerk on June 21 at City Hall.  He has served on the Board since 2015.

Jun. 9, 2016
LACERS Wins Award for Financial Reporting
The Los Angeles City Employees’ Retirement System (LACERS) has been awarded the Certificate of Achievement for Excellence in Governmental Accounting and Financial Reporting by the Government Finance Officers Association (GFOA) of the United States and Canada for its Comprehensive Annual Financial Report (CAFR). The GFOA is a non-profit professional association serving approximately 18,000 government finance professionals.

This marks the 17th consecutive year that LACERS has received this honor. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting.

Judged by an impartial panel, based on the evidence of transparency and full disclosure in an annual financial report that exceeds requirements of the Generally Accepted Accounting Principles promulgated by the Governmental Accounting Standards Board, the CAFR is a thorough and detailed annual presentation of LACERS’ financial condition. It also documents LACERS’ financial and investment activities.


May 18, 2016
Special Election for the Office of Employee-Member of the Board of Administration - Update
The deadline for filing Nominating Petitions has passed.

A ballot, voting instructions, and candidate qualifications for the Special Election for the Office of the Employee-Member of the Board of Administration will be mailed on Friday, June 10, 2016 to Active Members. 

Marked ballots may be mailed beginning Saturday, June 11, 2016, to be received by the City Clerk-Election Division Office by the 5:00 p.m. deadline on Friday, June 24, 2016.  Ballots may also be personally deposited in the election box at the City Clerk-Election Division Office during office hours, Monday through Friday, from June 17 through June 24. 

Click here to view a complete timeline regarding this Special Election. 


May 9, 2016
Deadline to File Nominating Petitions and the Qualifications Statement Form is May 16
Monday, May 16, 2016, at 5:00 p.m. is the deadline for submitting Nominating Petitions and Qualifications Statement Forms for the Special Election for the Elected Employee Member of the Board of Administration for the Los Angeles City Employees’ Retirement System (LACERS).  Nominating Petitions are available at the LACERS Office, 202 W. First Street, Suite 500, Los Angeles, CA  90012-4401 during regular office hours of 8:00 a.m. to 5:00 p.m., Monday – Friday. 


May 2, 2016
Special Election for Elected Employee Member of Board of Administration
The Los Angeles City Employees’ Retirement System (LACERS) has designated June 24, 2016, as the election day to fill the unexpired term of former LACERS Commissioner, Rick Rogers.  The term will expire June 30, 2018. 

Eligible LACERS Members who are interested in becoming a LACERS Board of Administration commissioner may file a Nominating Petition to be a candidate in the upcoming special election for the vacant Elected Employee seat. Beginning May 2, 2016, Nominating Petitions will be available at the LACERS Office, 202 W. First Street, Suite 500, Los Angeles, CA  90012-4401 during regular office hours of 8:00 a.m. to 5:00 p.m., Monday – Friday. The deadline to file Nominating Petitions and the Qualification Statement Form will be at 5:00 p.m. on May 16, 2016.  The election will be held on June 24, 2016. Click on the links to view the official Notification of Election and election calendar and visit www.LACERS.org for future election updates.


Apr. 8, 2016
Commissioner Rogers Resigns
Rick Rogers resigned as one of the two Elected Active Members of the Board of Administration on Wednesday, April 6, 2016.  Mr. Rogers was first elected to the Board for a five-year term on July 1, 2003, and was re-elected in 2008 and 2013. During his tenure, Mr. Rogers has served as President and Vice President of the Board, and served on several committees.  On behalf of LACERS, we thank him for his dedicated service and wish him well. 

An election will be held in the near future to fill the vacant Active Member seat on the Board.


Feb. 22, 2016
Health Benefit Eligibility Change for Members with Part-Time Employment
IMPORTANT! Retired Members who had worked part-time that did not qualify for health benefits in the past may now be eligible.
Recently, the City Council adopted an ordinance that amended language related to LACERS health benefits eligibility.  This ordinance took effect on Sunday, February 21, 2016.  Based on this new ordinance, Members who are at least age 55, had worked part-time, and have at least ten years of Service with the City of Los Angeles (worked for the City for at least ten years) now are eligible to receive medical and dental plan premium subsidies.  The new eligibility criteria for LACERS medical and dental plan premium subsidies are summarized below. 

Read more
...



Nov. 20, 2015
Sung Won Sohn Sworn In by City Clerk
Sung Won Sohn’s appointment to the Board of Administration by Mayor Eric Garcetti was confirmed by the Los Angeles City Council for the term ending June 30, 2016.  Commissioner Sohn was sworn in by the City Clerk on November 18 at City Hall. Click here for more information.


Sep. 16, 2015
Cynthia M. Ruiz Sworn In by City Clerk
Cynthia M. Ruiz’s appointment to the Board of Administration by Mayor Eric Garcetti was confirmed by the Los Angeles City Council for the term ending June 30, 2019. Commissioner Ruiz was sworn in by the City Clerk on September 16 at City Hall. Click here for more information.


Aug. 25, 2015
LACERS Wins Award for Financial Reporting
The Los Angeles City Employees’ Retirement System (LACERS) has been awarded the Certificate of Achievement for Excellence in Governmental Accounting and Financial Reporting by the Government Finance Officers Association (GFOA) of the United States and Canada for its Comprehensive Annual Financial Report (CAFR). The GFOA is a non-profit professional association serving approximately 17,500 government finance professionals. Click here for more information.


Aug. 24, 2015
Nilza R. Serrano Sworn In For Second Term
Nilza R. Serrano’s re-appointment to the Board of Administration by Mayor Eric Garcetti was confirmed by the Los Angeles City Council for the term ending June 30, 2020.  Commissioner Serrano was sworn in by the City Clerk on August 18 at City Hall.

Click here for more information.


Aug. 24, 2015
2nd Annual Guiding Principles Staff Appreciation Luncheon
LACERS’ Second Annual Guiding Principles Staff Appreciation Luncheon was held on Thursday, July 30, 2015, to recognize individual employees who represent the best in Character, Professionalism, Respect, Kindness, and Teamwork. The Hollywood award-themed event was sponsored by LACERS management.  Award recipients were selected through a voting process by LACERS staff.

Click here to view photos.


Jun. 17, 2015
Michael R. Wilkinson Sworn In
The City Clerk has certified the election results for the Retired Member seat of the Board of Administration. Michael R. Wilkinson has been re-elected to the Board of Administration by Retired Members for the term ending June 30, 2020, having received more than 50% of the votes cast in his favor during the election that was held on April 10, 2015. Read more ...


Apr. 30, 2015
It’s Official – Michael R. Wilkinson has been elected to the Board of Administration
On April 28, 2015, the results of 2015 Retired Member of the Board Election were certified, confirming that Commissioner Wilkinson will serve another term beginning July 1, 2015 and ending on June 30, 2020.  

Click here for more information.


Apr. 7, 2015
Office of Retired Member Board Election Update
The City Clerk has tallied the ballots for the Office of Retired Member of the Board of Administration.  Based on unofficial results, incumbent Michael R. Wilkinson received the most votes.  The City Clerk has until Friday, April 24, 2015, to certify official results to LACERS Board of Administration.  Click here to see more.


Apr. 7, 2015
Remember to Vote for LACERS Board of Administration Retired Member
Look for your ballot to vote for the Office of Retired Member of the LACERS Board of Administration.  Ballots have been mailed and are due on April 10, 2015.  Instructions for voting are included with your ballot.

You can mail in your marked ballot, or you may personally deposit your ballot in the election box at the City Clerk-Election Division Office during office hours.  Ballots must be received by Friday, April 10, 2015 at 5 p.m.  The City Clerk-Election Division Office is located at 555 Ramirez St., Space 300, Los Angeles, CA  90012.

Click here to view a complete timeline regarding this election.


Mar. 20, 2015
Ballots Mailed for Election of Retired Member of the Board of Administration
On Friday, March 20, 2015, a ballot, voting instructions, and candidate qualification statements for the Election of the Office of Retired Member of the Board of Administration were mailed to each eligible voter.

Beginning on Saturday, March 21, 2015, you can mail in your marked ballot.  Also, you may personally deposit your ballot in the election box at the City Clerk-Election Division Office during office hours, beginning Friday, April 3, 2015.  Ballots must be received by Friday, April 10, 2015 at 5 p.m.  The City Clerk-Election Division Office is located at 555 Ramirez St., Space 300, Los Angeles, CA  90012.

Click here to view a complete timeline regarding this election.

Mar. 5, 2015
Office of Retired Member Board Election Update
The following Retired Members have filed a Notice of Intent to Run:

Allan A. Nadir
John C. Kobes
Adelaida M. Gonzales
Ronald R. Hale
Daniel T. Hammett
Ruth E. Priester
Michael R. Wilkinson
Charles W. Wilson

Names are listed in the order they appear on the ballot. Read more...

Feb. 10, 2015
Self-Nomination Packets For Retired Member of Board of Administration Have Been Mailed To All Eligible Voters
Self-Nomination packets for the Office of Retired Member of the LACERS Board of Administration were mailed to all Retired Members (eligible voters).

Self-Nomination packets include: Read more ...

Dec. 23, 2014
Investment Benchmarking Results for the Period Ending December 31, 2013
At its December 23, 2014 meeting, the LACERS Board of Administration received a presentation by CEM Benchmarking, Inc. of investment benchmarking results for the period ending December 31, 2013.  LACERS investment results were benchmarked against 18 of our peers, selected based on size of assets under management.

Some highlights from the report include:
  • LACERS 5-year net total return was 12.5% - above the U.S. Public median and our peer median of 12.1%.
  • LACERS 5-year net value added was 0.6% - above the U.S. Public median and our peer median of 0.2%.  This means that the structure of our investment program added more value than the structure of our peer’s investment programs.
  • LACERS investment cost of 50.5 basis points was below our benchmark cost of 55.1 basis points.  This means that LACERS was able to implement its investment program at a lower cost than our peer group would have been able to with the same asset allocations.
To see the report in full, click here.

Nov. 19, 2014
Open Enrollment Has Ended
LACERS’ Open Enrollment period ended December 1 and health plan changes can no longer be made for the 2015 calendar year. Unless there is a qualifying event, the next opportunity to make changes to your LACERS health plan will be during the Open Enrollment period for 2016. For more information about qualifying events, contact LACERS at (800) 779-8328 or visit www.lacers.org/retired to view the 2015 Health Benefits Guide (pages 5-6).

Reminder: Any health plan changes you made during the Open Enrollment period become effective January 1, 2015 and your first monthly health plan premium deduction for 2015 will begin with your December 2014 LACERS Retirement Allowance.

Oct. 10, 2014
Tier 2 Benefits Update
On August 25, 2014, the Los Angeles City Employee Relations Board (ERB) issued an order directing the City to rescind the ordinance which created the Tier 2 structure for all LACERS Members hired by the City on or after July 1, 2013. Subsequently, the ERB granted a motion to stay and the matter is pending further action.

Until this matter is resolved, LACERS continues to administer Tier 2 benefits pursuant to existing Administrative Code language.
Sep. 24, 2014
City Council Confirms Elma Duke’s Nomination to LACERS Board of Administration
Elma Duke’s appointment to the Board of Administration by Mayor Eric Garcetti was confirmed by the Los Angeles City Council as the Appointed-Retired Member for the term ending June 30, 2016. For additional information, click here.
Jul. 31, 2014
Guiding Principles Staff Appreciation Luncheon
LACERS’ first Guiding Principles Staff Appreciation was held on Thursday, July 24, 2014 to recognize individual employees who represent the best in Character, Professionalism, Respect, Kindness, and Teamwork. An “Oscar Award” style luncheon and ceremony was held, sponsored by LACERS management.

LACERS staff nominates and votes for other staff for each of the Guiding Principles.  The results are tallied and awards are presented by the Guiding Principles Committee.

Click here to view photos.
Jul. 30, 2014
LACERS Board Elects New Officers
The LACERS Board of Administration elected Commissioner Jaime L. Lee as President and Michael R. Wilkinson as Vice-President at its July 22nd meeting.

Commissioner Lee was appointed to the Board by Mayor Eric Garcetti and has served on the Board since March 2014. She is a member of the Board’s Governance Committee.

Commissioner Wilkinson was elected to the Board by Retired Members in August 2013. He is the Chair of the Benefits Administration Committee.
Jul. 14, 2014
Important News About Your Pension Information
In response to a California Public Records Act (CPRA) request, LACERS has been advised that it must release information regarding all of its Retired Members, including their names, pension amounts, years of service, and retirement year. Read more ...
Jul. 9, 2014
Vice President Galanter Resigns
Ruth Galanter, Board Vice President, resigned from the LACERS Board effective June 30, 2014. Commissioner Galanter had served on the Board since March 2014.  In addition to serving as the Board’s Vice President, Commissioner Galanter served on the Board’s Audit Committee.  Ms. Galanter held the Mayor-appointed seat that is required to be filled by a Retired LACERS Member.
Jun. 20, 2014
Elizabeth L. Greenwood Sworn In
The City Clerk has certified the results for the Elected Employee Member of the Board of Administration.   Elizabeth L. Greenwood has been re-elected to the Board of Administration by Active Members for the term ending June 30, 2019, having received more than 50% of the cast in her favor during the election that was held on April 3, 2014.  Click here for more information.
May 6, 2014
City Council Confirms William J. Briggs, II’s Nomination to LACERS Board of Administration
William J. Briggs, II’s appointment to the Board of Administration by Mayor Eric Garcetti was confirmed by the Los Angeles City Council for the term ending June 30, 2019.  For additional information, click here.
May 6, 2014
City Council Confirms Ruth Galanter’s Nomination to LACERS Board of Administration
Ruth Galanter’s appointment to the Board of Administration by Mayor Eric Garcetti was confirmed by the Los Angeles City Council for the term ending June 30, 2016.  For additional information, click here.
May 6, 2014
City Council Confirms Jaime L. Lee’s Nomination to LACERS Board of Administration
Jaime L. Lee’s appointment to the Board of Administration by Mayor Eric Garcetti was confirmed by the Los Angeles City Council for the term ending June 30, 2017.  For additional information, click here.
Apr. 7, 2014
Election of the Employee Member of the Board of Administration Update
The City Clerk has tallied the ballots for the Employee Member of the Board of Administration.  Based on official results, Elizabeth Greenwood, having received more than 50% of the votes cast, was re-elected.
Mar. 25, 2014
LACERS Reduces Investment Fees
Despite a significant increase in our assets over the last few years (an average return of 12.3% over the last three years), which typically would lead to higher investment fees, LACERS has reduced its investment fees by 15.5%.
Mar. 17, 2014
Ballots Mailed for Election of Employee Member of the Board of Administration
On Wednesday, March 19, 2014, a ballot, voting instructions, and candidate qualification statements for the Election of the Employee Member of the Board of Administration were mailed to Active Members.

Beginning on Thursday, March 20, 2014, you can mail in your marked ballot.  Also, you may personally deposit your ballot in the election box at the City Clerk-Election Division Office during office hours, March 27 through Thursday, April 3, 2014.  Ballots must be received by the City Clerk-Election Division Office by the 5:00 p.m. deadline on Thursday, April 3, 2014.

Click here to view a complete timeline regarding this election.
Mar. 12, 2014
General Manager Message Regarding Management Audit
On March 12, 2014, the Controller released a 5-year management audit of LACERS (click here).  The 5-year audit is required by the Charter and is commissioned by the Mayor, City Council, and Controller.  This current audit was released in two parts, the first of which was released on June 27, 2013 (click here).

I am proud to report that the audit noted many positive aspects relating to LACERS including:
  • That our System “operated in a reasonably efficient and economical manner”;
  • That “LACERS Board and staff were diligent in their consideration of the prior management audit recommendations”;
  • That LACERS operations are “very transparent”; and
  • That “everyone at LACERS had a great attitude of cooperation”.

The greater than 70% reduction in recommendations compared with the 2007 management audit attests to the commitment and diligence of our Board and staff in administering our retirement system.

As we are constantly striving to improve our operations, we welcome the audit recommendations and look forward to further reviewing them with our Board.

Feb. 27, 2014
City Council Confirms Nilza Serrano’s Nomination to LACERS Board of Administration
Nilza Serrano’s appointment to the Board of Administration by Mayor Eric Garcetti was confirmed by the Los Angeles City Council for the term ending June 30, 2015.  For additional information, click here.
Feb. 20, 2014
LACERS Perspective on Los Angeles 2020 Commission Report
The Los Angeles 2020 Commission released a report titled: “A Time for Truth” (http://www.la2020
reports.org/reports/A-Time-For-Truth.pdf
).  The report details what the Commission perceives to be “the current situation and issues facing Los Angeles.” Read more ...
Feb. 3, 2014
Vice President Chick Resigns
Robert Chick, Board Vice President, resigned from the LACERS Board effective February 3, 2014. Commissioner Chick had served on the Board since 2010. In addition to serving as the Board’s Vice President, Commissioner Chick served as the Chair of the Benefits Administration Committee.
Jan. 23, 2014
Nominating Petitions for Employee-Member of Board of Administration are Available at LACERS
Beginning Friday, February 7, 2014, nominating petitions for the Office of Employee-Member of the LACERS Board of Administration will be available at LACERS, 202 W. First Street, Suite 500, Los Angeles, CA 90012-4401.  Office hours are 8:00 a.m. to 5:00 p.m.

To qualify, a candidate must be nominated by petition with a minimum of 100 valid signatures from Active LACERS Members.

Click here to view a complete timeline regarding this election.
Jan. 16, 2014
LACERS Investments
The LACERS portfolio rate of return for one-year ending December 31, 2013 was 18.84%, net of fees.  The policy benchmark is 17.05%.
Dec. 2, 2013
LACERS Investments
The LACERS portfolio rate of return for one-year ending Oct. 31, 2013 was 18.19%, net of fees.  The policy benchmark is 17.26%.
Nov. 19, 2013
Open Enrollment Has Ended
Open Enrollment ended on November 15.  All health plan changes will become effective January 1, 2014. Any new deductions reflecting the 2014 health plan choices that you made during Open Enrollment will appear on your monthly allowance beginning December 2013.
Sep. 26, 2013
Official Unveiling of the Ken Spiker Boardroom
LACERS longest-serving Elected Retired Member receives special honor during board meeting. On Tuesday, September 24, 2013, the LACERS Boardroom was designated the Ken Spiker Boardroom in a ceremony during the Board of Administration meeting.  Read more ...
Sep. 12, 2013
Michael R. Wilkinson Sworn In As Elected Retired Member
The City Clerk has certified the results for the Elected Retired Member of the Board of Administration. Michael R. Wilkinson has been elected. Read more ...
Aug. 27, 2013
Michael R. Wilkinson Wins Special Election to LACERS Board
The City Clerk has certified the results for the Retired Elected Member of the Board of Administration.   Michael R. Wilkinson has been elected to the Board of Administration for the term ending June 30, 2015. Click here to see official results of the special election.
Aug. 21, 2013
Special Retired Member Board Election Update
The City Clerk has tallied the ballots for the Retired Elected Member of the Board of Administration.  Based on unofficial results, Michael R. Wilkinson received the most votes.  The City Clerk has until August 30, 2013 to certify official results to LACERS Board of Administration.  Click here to see more.
Jul. 26, 2013
Ballots Mailed for Special Election of Retired Member on Board of Administration
On Friday, July 26, 2013, a ballot, voting instructions, and candidate qualifications for the Special Election for the Retired Member of the Board of Administration were mailed to Retired Members.

Marked ballots may be mailed beginning on Monday, July 29, 2013, to be received by the City Clerk-Election Division Office by the 5:00 p.m. deadline on Friday, August 16, 2013. Ballots may also be personally deposited in the election box at the City Clerk-Election Division Office during office hours, seven days preceding the Friday, August 16, 2013 deadline.

Click here to view a complete timeline regarding this special election.
Jul. 24, 2013
LACERS Board of Administration Officers and Members for Fiscal Year 2013-14
The election of Board Officers took place at the Board of Administration meeting held on Tuesday, July 23, 2013.  Rick Rogers was re-elected as President, and Robert A. Chick was re-elected as Vice President. Both will serve for Fiscal Year 2013-14.

Other Board Members include Elizabeth L. Greenwood, Michael F. Keeley, Barker Khorasanee, and Kenneth M. Simril.
Jul. 8, 2013
LACERS Investments Posts 14.25% Return for Fiscal Year 2012-13
The investment portfolio closed the fiscal year ending June 30, 2013, at $11.85 billion.  The preliminary, unaudited fiscal year gross return was 14.25%.
Jun. 25, 2013
Rick Rogers Sworn In
Board President Rick Rogers was sworn in for another five-year term beginning July 1, 2013.  Mr. Rogers was re-elected to the Board by Active Members with 97.3% of the votes cast in his favor during the election that was held on April 26, 2013.  Read more ...
Jun. 14, 2013
42 Year LACERS Employee Retires
Chris Laugheed began her City career in 1971 thinking about retirement that first day on the job.  More than 42 years later, she retired from the same department where she began her City career, the Los Angeles City Employees’ Retirement System. Read more...
Jun. 14, 2013
Special Election for Elected Retired Member of Board of Administration
The Board of Administration has designated August 16, 2013 as the election date to fill the unexpired term of former LACERS Commissioner Kenneth G. Spiker. The term will expire June 30, 2015. Nominating packets were mailed to all Retired Members on June 14, 2013 and are due back to the City Clerk by 5:00 p.m. on June 28, 2013.  Read more ...
Jun. 12, 2013
Commissioner Spiker Resigns
Kenneth G. Spiker resigned as Elected Retired Member of the Board of Administration in a letter received by LACERS on Friday, May 24, 2013.  Mr. Spiker has served on the Board since September 1995.  On behalf of LACERS, we thank him for his dedicated service and wish him well.  To see his letter of resignation, click here.
May 20, 2013
Rogers Re-elected to Board of Administration
Current Board President Rick Rogers was re-elected as Employee-Member for a five-year term beginning July 1, 2013 with 97.3% of the votes cast in his favor during the election that was held on April 26, 2013.
Read more
...
May 1, 2013
City Council Confirms Michael F. Keeley’s Nomination to LACERS Board
Michael F. Keeley’s appointment to the Board of Administration by Mayor Antonio R. Villaraigosa was confirmed by the Los Angeles City Council for the term ending June 30, 2017. 
Apr. 23, 2013
City Council Confirms Barker Khorasanee’s Nomination to LACERS Board of Administration
Barker Khorasanee’s appointment to the Board of Administration by Mayor Antonio R. Villaraigosa was confirmed by the Los Angeles City Council as the Appointed-Retired member for the term ending June 30, 2016.  For additional information, click here
Mar. 5, 2013
Nominating Petitions for Employee-Member of Board of Administration Available Now
Beginning Friday, March 1, 2013, nominating petitions for the Office of Employee-Member of the Board of Administration will be available...Click here
Jan. 18, 2013
LACERS is Commended for Prefunding Retiree Health Benefits and Overall Funding of Pension
In a recent study by the Pew Charitable Trusts, LACERS was recognized as a “bright spot” among public employee pension plans for its practice of prefunding retiree health benefits. Read more.
Jan. 9, 2013
LACERS' Comprehensive Annual Financial Report Wins Award
The Los Angeles City Employees' Retirement System (LACERS) has been awarded the Certificate of Achievement for Excellence in Governmental Accounting and Financial Reporting by the Government Finance Officers Association (GFOA) of the United States and Canada for its Comprehensive Annual Financial Report (CAFR). Click here
Oct. 23, 2012
Retiree Open Enrollment is Here
October 15 - November 15
For more information about Open Enrollment and attending an Open Enrollment event. Click here
Oct. 22, 2012
Mayor Villaraigosa Instructs CAO to Review “changes to automatic increases” in Health Subsidies for Existing Retirees, click here.
Aug. 14, 2012
Board of Administration Officers and Members for Fiscal Year 2012-13
The election of Board Officers took place at the Board of Administration meeting held on July 24, 2012. Click here
Jul. 17, 2012
LACERS Is Moving Its Headquarters Closer to City Hall
LACERS is relocating its headquarters to better serve you. Our new office is located at 202 W. First Street, Suite 500, Los Angeles, CA 90012-4401. Office hours are 8 a.m. to 5 p.m., Monday - Friday. Read more
Jun. 20, 2012
LACERS Selects Chief Investment Officer
LACERS has selected Rodney L. June as Chief Investment Officer. This appointment marks the return of Mr. June to LACERS, where he served as an Investment Officer II from 1998 to January 2008. Read more
Apr. 08, 2012
Cost of Living Adjustment for 2012
You will receive will receive an annual Cost-of-Living Adjustment, or "COLA," if you are a retired LACERS Member, or an eligible surviving spouse/domestic partner who receives a continuance . Read more
Feb. 15, 2012
Career Opportunites at LACERS
To learn more click here
Jan. 19, 2012
Mayor Selects Keeley for Board Appointment
Michael F. Keeley’s nomination by Los Angeles Mayor Antonio Villaraigosa to serve on the Los Angeles City Employees’ Retirement System (LACERS) Board of Administration was confirmed by the Los Angeles City Council on January 11, 2012. Read more
Jan. 18, 2012
LACERS Receives $2.1 Million from ERRP
LACERS received $2.1 million from the Federal Early Retiree Reinsurance Program (ERRP) for reimbursement of claim costs associated with early retiree medical plans. Read more
Dec. 9, 2011
LACERS Retiree Health Benefits Almost 80% Funded
Based on LACERS valuation results for the fiscal year ended June 30, 2011, the funded ratio of the retiree health care program has increased from 63% to 78.6%. Read more
Nov. 4, 2011
LACERS Board Elects New Officers
The Los Angeles City Employees’ Retirement System (LACERS) Board of Administration elected Commissioner Rick Rogers as President at its October 25th meeting, to fill the vacancy created by the departure of former Board President Roberta Conroy. Read more
Oct. 18, 2011
Letter from the GM
There was a recent report that LACERS initially refused to post a Board report on its website.
This is not a true account of what happened. Pursuant to our protocol, the reports for our Board’s October 11, 2011 meeting were posted on our website on Friday, October 7 at the same time the Board packages were being sent to our Board Members. Read more
Oct. 14, 2011
LACERS Selected for a 2011 City of Los Angeles Quality and Productivity Award
The Los Angeles City Employees' Retirement System (LACERS) was presented a Quality and Productivity Award by the City of Los Angeles Quality and Productivity Commission for successful participation in the Federal Early Retiree Reinsurance Program (ERRP) during the Los Angeles City Council meeting today. Learn more
Oct. 4, 2011
Message from Roberta Conroy
At our September 27, 2011 Board meeting, three Active LACERS Members addressed our Board with respect to the retiree medical subsidy freeze for some Members.  From these comments it was clear that our Members would like us to provide more information. Learn more
Aug. 23, 2011
City Council Approves Reappointment of Jerry Bardwell to LACERS Board of Administration
The Los Angeles City Employees’ Retirement System (LACERS) announced that Jerry Bardwell has been re-appointed by Mayor Antonio R. Villaraigosa and confirmed by the City Council to serve on its Board of Administration. Learn more
Jul. 21, 2011
LACERS Investments Posts Largest Return Since Fiscal Year 1985-86
The Los Angeles City Employees’ Retirement System (LACERS) announced today that its investment portfolio closed the fiscal year ending June 30, 2011, at $10.81 billion. Learn more
Jun. 21, 2011
Understanding Retiree Benefits, Contributions and Eligibility
The Los Angeles City Employees’ Retirement System (LACERS) announced today that its investment portfolio closed the fiscal year ending June 30, 2011, at $10.81 billion. Learn more
May 31, 2011
Summary Information Regarding Ordinance Changes Which May Impact LACERS Members
On May 31, 2011 and June 3, 2011, the Los Angeles City Council approved changes to the Los Angeles Administrative Code (LAAC) that affect the City of Los Angeles Retirement System’s (LACERS) retiree benefits. Learn more
Apr. 21, 2011
LACERS Receives $3.8 Million for Medical Claim Costs Reimbursement
The Los Angeles City Employees’ Retirement System (LACERS) received $3.8 million from the federal Early Retiree Reinsurance Program (ERRP) for reimbursements of claim costs associated with early retiree medical plans.    Read more
Apr. 8, 2011
Understanding LACERS Retiree Healthcare Subsidy
There are three basic components to LACERS retiree medical subsidy benefit (Article 3, Chapter 11 of the Los Angeles Administrative Code): Read more
Apr. 8, 2011
LACERS Appoints Sara Griggs as Acting CIO
The Los Angeles City Council confirmed the The Los Angeles City Employees’ Retirement System (LACERS) has appointed Sara Griggs, Senior Investment Officer and lead for private equity investments, as acting Chief Investment Officer
(CIO). Ms. Griggs’ appointment is effective April 11, 2011, while LACERS continues its search for a permanent CIO. 
Read more
Mar. 1, 2011
LACERS Portfolio Ends Fiscal Year at $9.0 Billion
The Los Angeles City Employees’ Retirement System (LACERS) announced today that its investment portfolio closed fiscal year ending June 30, 2010 at $9 billion. Read more
Feb. 15, 2011
Li Hsi Promotes to Assistant General Manager
The Los Angeles City Employees’ Retirement System (LACERS) announced the appointment of Li Hsi to the position of Assistant General Manager of  LACERS where he will oversee all administrative functions, including financial and accounting operations, systems, strategic planning and office services. Read more
Feb. 3, 2011
Health Care Legislation and LACERS Health Benefits
The Patient Protection and Affordable Health Care Act and the Health Care and Education Reconciliation Act of 2010 were signed into law in March. Some provisions will take effect as early as this year. Read more
Dec. 20, 2010
LACERS Board of Administration Appoints Thomas Moutes as General Manager
The Los Angeles City Employees’ Retirement System (LACERS) Board of Administration announced today the selection of Thomas Moutes for the position of General Manager, pending confirmation by the Mayor and City Council. Read more
Nov. 23, 2010
LACERS Selects Wilshire Associates as General Fund Consultant
The Los Angeles City Employees’ Retirement System (LACERS) Board of Administration selected Wilshire Associates, Inc. as its general fund consultant at its meeting on Tuesday, Nov. 23. Read more
Oct. 24, 2010
Robert A. Chick to Serve on LACERS Board of Administration
Robert A. Chick has been appointed by Mayor Antonio R. Villaraigosa, and was confirmed by the City Council on Friday, August 20, 2010, to serve on the LACERS' Board of Administration for the term ending June 30, 2015.
Read more
Oct. 12, 2010
LACERS Board of Administration Appoints Tom Moutes as Interim General Manager
The Los Angeles City Employees’ Retirement System (LACERS) Board of Administration announced the appointment of Tom Moutes, Assistant General Manager, to serve as Interim General Manager, owing to the resignation of Sally Choi. Read more
Jun. 3, 2010
LACERS Answers Your Questions About Bankruptcy
LACERS is aware that there has been speculation in the media as to whether the City should, or may, file for Chapter 9 bankruptcy, like the City of Vallejo did in 2008 and some other municipalities have done. Read more
Apr. 20, 2010
View Recent Presentations to Elected Officials and Board of Administration
Dec. 30, 2009
Penichet to Serve on LACERS Board of Administration
The Los Angeles City Employees’ Retirement System (LACERS) announced that Jeffrey Penichet has been appointed by Mayor Antonio R. Villaraigosa and confirmed by the City Council to serve on its Board of Administration to fill a recent vacancy on the board. Read more
Dec. 22, 2009
LACERS' Board Endorses the Institutional Limited Partners Association (ILPA) Private Equity Principles Read more
Aug. 10, 2009
Two New Commissioners to Serve on LACERS Board
The Los Angeles City Employees' Retirement System (LACERS) announced that two new members, Roberta A. Conroy and Elizabeth L. Greenwood, have been selected to serve on its Board of Administration. Read more

Jul. 2, 2009
Retirement Benefits, Mandatory Furloughs and Possible Layoffs
If you receive a layoff notice, and you are eligible to retire, you must file your retirement application before your termination date or else you may lose your rights to retirement benefits. Read more
Dec. 5, 2008
An Important Notice Regarding Your Retirement Benefits
It has been reported in the media that there are negotiations about a voluntary retirement plan for LACERS Members. However, to date, LACERS has not received notification of any changes in the current retirement provisions. Read more Read More
Oct. 21, 2008
LACERS Retirement Benefits Are Not Impacted By Market Fluctuations -
Because of the market's volatility, many Los Angeles City Employees' Retirement Systems (LACERS) Members have wondered if their benefits are affected. LACERS Members have a Defined Benefit Plan. The Retirement benefit is calculated by a formula (based on age, service credit and highest final average salary) as defined in the Los Angeles Administrative Code. Read more Read More