News from the General Manager’s Desk

Summer 2023

Photo of LACERS General Manager, Neil Guglielmo

It’s been a season of change and excitement for LACERS during the last several months. We couldn’t be more excited to have turned the key and moved into our new headquarters at 977 N. Broadway. Each floor was designed with flexible workstations and open floor plans to allow for collaboration and co-creation. Our LACERS staff have been incredible during this transition, and meeting their practical needs and well-being is of utmost importance as we continue delivering on our mission of protecting and growing our trust fund and providing retirement services to our Members in an ethical, reliable, and efficient manner. To virtually explore our new Headquarters, you can view our tour video on LACERS YouTube and read the article published in the June Alive! newsletter.

As I have shared at the LACERS Board Meetings, we are closely monitoring the new ordinance, Council File 20-1537, granting Public Safety Officers enhanced disability and death benefits. Additionally, we are pleased to share that the Board approved the LACERS Budget for Fiscal Year (FY) 2023-2024 on May 23, 2023. We will continue to share updates on these and other policy and business priority changes during the Board of Administration meetings and in our printed and online publications.

In other news, we are excited to have hosted our first in-person Emerging Manager Networking Forum on June 8th at our LACERS Headquarters and look forward to hosting more in the future. This forum demonstrates our commitment to engaging with the Emerging Manager community as we continue diversifying and adding value to the LACERS portfolio.

Undoubtedly, we continue to keep a watchful eye on the war in Ukraine not only because of its impact on the markets with broader consequences for the global economy but also because of its toll on human life. At LACERS, we look forward to serving our City family by delivering timely and accurate benefits to all Active and Retired Members. We thank you for your contributions to making Los Angeles a great place to live, work, and play.

With appreciation,

Neil Guglielmo

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