Category: Newsroom

Remaining Steadfast in Uncertain Times

Posted on by Oscar Diaz

Last week, President Trump unveiled an extensive tariff plan, prompting concerns amongst investors of a global trade war, higher inflation, and a potential recession. Over the last few days, global stock markets have sold off severely, with the S&P 500 Index (a bellwether indicator of the U.S. stock market) plunging nearly 11%, the largest decline since the COVID-19 Pandemic.  Given the many uncertainties around global tariff policies, heightened stock market volatility may continue to persist for the foreseeable future.

During these unprecedented times, you may be concerned about the security of your pension benefits, which are paid directly from LAFPP’s investment portfolio.  Rest assured that the LAFPP Board has prudently designed an asset allocation strategy that diversifies the portfolio across stocks, bonds, private equity, real estate, and other investment types that historically do not move perfectly in sync with stocks.  While the portfolio is not completely immune to valuation declines, this diversified investment approach allows the Plan to meet its long-term investment goals while mitigating the impact of short-term stock market volatility. 

Since the Plan was established in 1899, the investment portfolio has withstood several significant market crashes including the Great Depression, Black Monday, Dotcom Bubble, Great Financial Crisis, and most recently the COVID-19 Pandemic.  Despite these adverse events, the Plan currently has a strong combined market value funded status of 99.2% (as of June 30, 2024), as a result of the Board’s diversified investment approach, strong contribution policy by the City of Los Angeles, skilled investment managers, and meticulous investment oversight process by the Board, staff, and consultants.  We will continue to remain steadfast to our time-tested investment approach in the current turbulent market environment.  

Most importantly, we will continue to provide you with your hard-earned retirement benefits.

Building Closure for Scheduled Maintenance

Posted on by Oscar Diaz

Due to scheduled building maintenance, the LAFPP office will be closed to members and the public from Monday, April 21st through Friday, April 25th. LAFPP staff will be available by phone and video conference during this time. We anticipate that the building will reopen for regular business on Monday, April 28th. With our office closed, please consider using MyLAFPP to submit any documents securely to LAFPP. Thank you for your understanding.

 

Section Services Directory

Active Member Services

  • Annual Member Statements
  • Beneficiary Designations
  • Contribution Accounts
  • Dissolution of Marriage
  • Domestic Partnership Filings
  • Refund of Contributions
  • Request to Purchase Service
Phone: 213-279-3140
Email: amssection@lafpp.com

Communications & Education

  • Annual Report
  • MyLAFPP
  • Newsletters
  • Social Media
  • Website
  • Financial Planning
  • Education Seminars
  • Benefit Presentations
Phone: 213-279-3155
Email: cspsection@lafpp.com

Disability Pensions

  • Disability Pension Inquiries, Process and Reviews
  • Review of Dependent Children/Parent Qualifications
Phone: 213-279-3165
Email: disability@lafpp.com

DROP/Service Pensions

  • Service Pension
  • Deferred Pension Information
  • Deferred Retirement Option Plan (DROP)
  • DROP Entry/Exit Inquiries
  • DROP Beneficiary Designations
Phone: 213-279-3100
Email: dropsp@lafpp.com

Medical & Dental Benefits

  • Health and Dental Insurance
  • Subsidies
  • Health Insurance Premium Reimbursement Program (HIPR)
  • Medicare Part B Reimbursement
  • Year-to-Date Insurance Deduction Totals
Phone: 213-279-3115
Email: mdb@lafpp.com

Retirement Services

  • Retired Member Records and Information
  • Post-Retirement Marriage Dissolution
  • Retired Member or Qualified Survivor Deaths
  • Survivor Benefit Purchases
  • Survivor Pensions
Phone: 213-279-3125
Email: rs@lafpp.com

Election Results – Fire Department Retired Member of The Board of Fire and Police Pension Commissioners

Posted on by Oscar Diaz

LAFPP congratulates Commissioner Kenneth E. Buzzell, the Fire Department Retired Member-elect, on his re-election to the Board of Fire and Police Pension Commissioners (Board)! Commissioner Buzzell’s current term expires on June 30, 2025 and, pursuant to Los Angeles Administrative Code Section 23.103.2, the Board authorized the City Clerk’s Election Division to conduct an election on March 12, 2025.  Commissioner Buzzell received 88.47% of the votes cast and is re-elected to another five-year term beginning July 1, 2025.  Commissioner Buzzell will be sworn in before the end of his current term to continue fulfilling his fiduciary responsibilities as a Board member.

For a current list of Commissioners, please view the Board Directory. Inquiries regarding the results of the election can be directed to LAFPP’s Administrative Services and Human Resources Section at (213) 279-3080.

Election Results – Police Department Employee Member of The Board of Fire and Police Pension Commissioners

Posted on by Oscar Diaz

LAFPP congratulates Commissioner Brian J. Churchill, the Police Department Employee Member-elect, on his re-election to the Board of Fire and Police Pension Commissioners (Board)! Commissioner Churchill’s current term expires on June 30, 2025 and, pursuant to Los Angeles Administrative Code Section 23.102.2, the Board authorized the City Clerk’s Election Division to conduct an election on February 26, 2025.  Commissioner Churchill received 88.462% of the votes cast and is re-elected to another five-year term beginning July 1, 2025.  Commissioner Churchill will be sworn in before the end of his current term to continue fulfilling his fiduciary responsibilities as a Board member.

For a current list of Commissioners, please view the Board Directory. Inquiries regarding the results of the election can be directed to LAFPP’s Administrative Services and Human Resources Section at (213) 279-3080.

Board Meeting Access – Special Information

Posted on by planeteria

The next meeting of the Board of Fire and Police Pension Commissioners is on Thursday, May 15, 2025 at 8:30AM.

download this documentMay 15, 2025 Agenda

Please read the “Important Message to the Public” at the beginning of the Agenda for current meeting attendance options and requirements.

Public Comment Dial-In Information

If you would like to listen to the Board Meeting and provide public comment remotely, please call in to the meeting as follows:

  1. Dial-in Phone Number: 669-900-9128 US (San Jose) or 346-248-7799 US (Houston) (Toll charges may apply)
  2. Enter the Meeting ID: 898 405 2575 Passcode: 501554 then press “#”
  3. State your name, if prompted, then press “#” again
  4. Wait to join the meeting. You may hear silence until the meeting begins.

Watch and Listen via Livestream

If you do not wish to make public comment, but would like to watch and listen to the meeting, you may do so from the following link:

YouTube Link: LAFPP Board Meeting

  1. The Board meeting livestream is only available during open meeting sessions. The closed session portion of the meeting is closed to members of the public and you will see a black screen until the open session resumes.
  2. If the meeting freezes on your PC, press F5 or hit the refresh button on your webpage to reload the livestream.

Request for Services: As a covered entity under Title II of the Americans with Disabilities Act, the City of Los Angeles does not discriminate on the basis of disability and, upon request, will provide reasonable accommodation to ensure equal access to its programs, services and activities. Sign Language Interpreters, Communication Access Real-Time Transcription, Assistive Listening Devices, Telecommunication Relay Services (TRS), Language Translation and Interpretation Services, or other auxiliary aids and/or services may be provided upon request. To ensure availability, you are advised to make your request at least 72 hours prior to the meeting you wish to attend. Due to difficulties in securing sign language interpreters, five or more business days’ notice is strongly recommended. For additional information or to make requests for any of the above accommodations, please contact the Department of Fire and Police Pensions: (213) 279-3000 voice; (213) 628-7713 TDD; and/or email pensions@lafpp.com.

Notice to Department of Fire & Police Pension Industry Professionals: If you are compensated to interact with the Department of Los Angeles Fire and Police Pensions, City law may require you to register as a lobbyist and report your activity. Any individual may qualify as a lobbyist, regardless of occupation, education, training, or professional title. A lobbyist may hold a position that includes, but is not limited to: attorney, CEO, consultant, government liaison, business owner, permit applicant, urban planners, expediters, land developers, various real estate specialists and others. More information is available online through the Ethics Commission’s lobbying program and publication pages. For assistance, please contact the Ethics Commission.

Biden Signs Social Security Fairness Act of 2023

Posted on by nashamah.freeman@lafpp.com

Article updated on February 25, 2025
Latest Update on the Social Security Fairness Act

The Social Security Administration has announced the immediate start of retroactive payments and an increase in monthly benefit payments for individuals affected by the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). These provisions previously reduced or eliminated benefits for over 3.2 million people with non-covered pensions. The Social Security Fairness Act, which ends WEP and GPO, will provide retroactive payments by the end of March and higher monthly benefits starting in April, though complex cases may take longer to process. Beneficiaries will be notified by mail about these changes but they are advised to wait until April before contacting Social Security about the adjustments.

View a copy of the official press release at https://www.ssa.gov/news/press/releases/2025/#2025-02-25-a
Visit the official agency’s Social Security Fairness Act webpage: https://www.ssa.gov/benefits/retirement/social-security-fairness-act.html

The article below was originally posted on January 6, 2025:

On January 5, 2025, President Biden signed into law the Social Security Fairness Act of 2023 (H.R. 82), which repeals two long-standing federal laws: the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These provisions reduced Social Security payments for recipients of other benefits such as a pension from state or local government, impacting almost three million individuals, including some LAFPP retirees and beneficiaries. 

What Are WEP and GPO? 

WEP and GPO are federal laws that reduce Social Security benefits for individuals who also receive a pension from work not covered by Social Security, such as City of Los Angeles employees. 

  • WEP: This provision affects individuals who qualify for Social Security benefits through other jobs covered by Social Security but also earn a pension from non-covered employment (e.g., LAFPP members). Under WEP, Social Security benefits are typically reduced by about 50%, although they cannot be reduced to zero. 
  • GPO: This provision applies to individuals who qualify for spousal Social Security benefits and also earn a pension from non-covered employment. The GPO reduces benefits up to a certain amount, often eliminating the spousal benefit entirely. 

Impact of the Repeal 

It is unclear at this time how quickly the Social Security Administration (SSA) will be able to recalculate benefit amounts for those impacted by WEP and GPO.  Individuals who may have seen their Social Security benefits reduced by these provisions are encouraged to speak with a Social Security Administration representative. Please note that this change DOES NOT IMPACT benefits received from LAFPP. 

What Should You Do? 

For specific questions about how the repeal will impact your individual Social Security benefits, it is recommended to contact the SSA directly. Visit www.ssa.gov for updates and detailed information. 

Tax Season – Form 1099-R Information

Posted on by Elizabeth Trevizo

As you prepare to file your taxes, below are a couple of options for obtaining your 2024 Form 1099-R tax information:

Available online beginning January 31, 2025

You may view and/or print a copy of your 1099-R tax form by logging into your MyLAFPP portal. See below for a tutorial on how to access MyLAFPP.

Mailed on January 31, 2025

If you prefer to wait for a hard copy of your 1099-R tax form, it will be mailed to your address on file via U.S. mail on January 31, 2025. Please allow up to 10 business days to receive your 1099-R by mail. If you have not received your 1099-R form by February 15, 2025, please contact the Accounting Section at (213) 279-3040, (844) 88-LAFPP ext. 3040, or via email at accounting@lafpp.com to request a copy.

FAQs

MyLAFPP tutorial how to download your 1099-R

Important: In order to access your information, you must first register to the MyLAFPP member portal. Please refer to the Register to MyLAFPP manual located in our  MyLAFPP Helpdesk.

STEP 1: Log in to MyLAFPP. Enter your username and password, then click Log In.

Important: Usernames and Passwords are case sensitive.

STEP 2: Click on “Forms & Correspondence”

STEP 3: Click “Statements”

STEP 4: Click “Document” to Open or Download Your Form 1099R

Some members may receive more than one 1099-R tax form in a year. Here are some possible reasons why:

  • You exited DROP and received the proceeds of your DROP account via a rollover, a lump-sum cash distribution, and received at least one monthly pension check in the same year. In this case you would receive a total of three 1099-Rs. One 1099-R for the DROP rollover (Distribution Code G), one 1099-R for the DROP lump-sum (Distribution Code 2), and one 1099-R for monthly pension payments (also Distribution Code 2).
  • You have a non-tax dependent covered on your LAFPP-subsidized health insurance plan (e.g., domestic partner or child of a domestic partner). This 1099-R would have a Distribution Code 9.
  • Your IRS tax distribution code changed during the year (i.e., the member turns age 59 ½ in the tax year). You would receive two Forms 1099-R, one for when you were under 59 ½ years old (Distribution Code 2) and another for the payments received after age 59 ½ years old (Distribution Code 7).
  • You received pension payments based on your City service and from a qualified domestic relations order (QDRO) (Distribution Code 2) or as a beneficiary (Distribution Code 4).

What does each box represent on the 1099-R? 

Need to make changes to your income tax withholdings?

If you live in the state of California, you can make changes electronically through the MyLAFPP portal in 6 easy steps:

  1. Access MyLAFPP
  2. Click Retiree Benefits 
  3. Click Tax Withholding 
  4. Click Update Pension Tax Withholding Instructions
  5. Fill in all the information, even if you are only changing either Federal or State of California withholdings.
  6. Click Submit

Click here to view screenshots of the step-by-step instructions above.

If you live outside of the state of California, current system limitations do not allow you to update your tax withholding elections using the MyLAFPP portal. For assistance, please contact the Retirement Services Section at (213) 279-3125 or (844) 88-LAFPP, ext. 3125.

Important Note: In addition to Federal taxes, LAFPP will withhold state taxes for the State of California.   If you reside outside the state of California, no state taxes will be withheld, and you will be responsible for any required state tax withholdings.  The State tax withheld (Box 14) and State distribution (Box 16) on your Form 1099-R will be populated with $0.00. 

Tax year 2024 Forms 1099-R: The State/Payer’s State No. (Box 15) will continue to reflect the LAFPP Tax ID CA/800-7968-4 regardless of your state of residence.  Box 15 is an administrative Form 1099-R field for California payers. 

For questions, please contact the Retirement Services Section at (213) 279-3125 or (844) 88-LAFPP, ext. 3125 or by email at rs@lafpp.com.

Special Message to LAFPP Members

Posted on by Oscar Diaz

As our City faces the ongoing challenges brought on by the devastating fires, we want to take a moment to extend our deepest gratitude to the brave first responders who are on the front lines, working tirelessly to protect our community. We also recognize the toll that such intense and sustained efforts may take, and we want to ensure that our members and their families have the support they need during these challenging times.

We want to assure you that our offices remain open and ready to assist you with all services. In addition, we’ve provided some resources below to assist in accessing support:

Thank you once again for everything you do. Stay safe!

Important Update from the City’s ITA Information Security Office

Phishing Scams Targeting Wildfire Victims

The California Cybersecurity Integration Center (CAL-CSIC) has issued a warning about phishing scams exploiting the current Southern California wildfires. Be extremely cautious of emails, texts, or social media posts related to wildfire relief, donations, or recovery efforts. Do not click on any links or open any attachments in emails or messages unless you are absolutely certain of their source.

How to protect yourself from these scams: Be wary of urgent or alarming messages that try to pressure you into taking immediate action. Do not click on links contained in any email or text message related to the Southern California wildfires. Instead, manually visit the organization’s website. Be cautious of misspelled URLs or unusual domain extensions. Avoid making charitable donations using cash. Instead, use traceable/legitimate services. Trust your instincts: if something seems suspicious or too good to be true, it likely is. Do not let cybercriminals take advantage! 

Ways to Donate

*Please note these donation pages and resources are not sponsored by the LAFPP but rather by independent resources*