Category: Newsroom

The Cost-of-Living Adjustment (COLA) is 3.1% for 2025 and was approved by the Board of Fire and Police Pension Commissioners on April 3, 2025. The COLA will be effective July 1, 2025, and all eligible pensioners and Deferred Retirement Option Plan (DROP) participants will receive an increase beginning with the pension payment/DROP account deposit dated July 31, 2025. For new pensioners and DROP entrants in Tiers 3-6, the first year’s COLA is prorated based on the number of complete months since the pension effective date. Therefore, these members may not receive the full 3.0%.

• Tiers 1 & 2 retirees and beneficiaries will receive 3.1%.  Tier 2 DROP participants will receive 3.0%.
• Tiers 3 & 4 retirees, beneficiaries, and DROP participants will receive up to 3.0%. 
• Tiers 5 & 6 retirees, beneficiaries, and DROP participants will receive up to 3.0% and the remaining 0.1% will be stored in the COLA bank*, which can be applied in future years when the CPI is below 3%. 

*Must have retired or entered DROP with a pension effective date prior to June 2, 2025, in order to have an available COLA bank balance.

APRIL 11, 2023

The Cost of Living Adjustment (COLA) is 5.1% for 2023 and was approved by the Board of Fire and Police Pension Commissioners on April 6, 2023.

The COLA will be effective July 1, 2023, and all eligible pensioners and Deferred Retirement Option Plan (DROP) participants will receive an increase accordingly, beginning with the pension payment/DROP account deposit dated July 31, 2023.

• Tiers 1 & 2 retirees and beneficiaries will receive 5.1%. Tier 2 DROP participants will receive 3.0%.
• Tiers 3 & 4 retirees, beneficiaries, and DROP participants will receive up to 3.0%.
• Tiers 5 & 6 retirees, beneficiaries, and DROP participants will receive up to 3.0% and the remaining 2.1% will be stored in the COLA bank*, which can be applied in future years when the CPI is below 3%.

For new pensioners and DROP entrants in Tiers 3-6, the first year’s COLA is prorated based on the number of complete months since the pension effective date, therefore these members may not receive the full 3.0%.

*Must have retired or entered DROP with a pension effective date prior to June 2, 2023, in order to have an available COLA bank balance.

Available in MyLAFPP!

Active members (excluding DROP participants)! View your 2023 Annual Member Statement in MyLAFPP.

View and/or print your 2023 Annual Statement online. This statement summarizes your individual pension-related information as of December 31, 2023, including service credit, pension estimates (if eligible to retire), contributions and interest, spouse or domestic partner information, and beneficiary designation.

Follow these steps to access your statement:

1. Log in to MyLAFPP. 
2. Click on Forms & Correspondence.
3. Click on Statements.
4. Click on the word “Document” next to the paperclip symbol. Your statement is provided in a PDF format.

If you have not signed up or have questions regarding MyLAFPP, please visit our MyLAFPP Help Desk.

For questions concerning your statement or copies of your Annual Statements for years prior to 2018, please contact the Active Member Services Section at (213) 279-3140 or by email at amssection@lafpp.com.

Available in MyLAFPP!

Active members! View your 2022 Annual Member Statement in MyLAFPP.

View and/or print your 2022 Annual Statement online. This statement summarizes your individual pension-related information as of December 31, 2022, including service credit, pension estimates (if eligible to retire), contributions and interest, spouse or domestic partner information, and beneficiary designation.

Follow these steps to access your statement:

1. Log in to MyLAFPP. 
2. Click on Forms & Correspondence.
3. Click on Statements.
4. Click on the word “Document” next to the paperclip symbol. Your statement is provided in a PDF format.

If you have not signed up or have questions regarding MyLAFPP, please visit our MyLAFPP Help Desk.

For questions concerning your statement or copies of your Annual Statements for years prior to 2018, please contact the Active Member Services Section at (213) 279-3140 or by email at amssection@lafpp.com.

To commemorate this month we would like to spotlight Human, LAFPP’s mural artist, with a tribute to her and her murals from the last 10 years that can be found in and around Los Angeles.

LAFPP is pleased to present our 2024 Annual Report. This report provides financial information, such as the department’s budget summary, investment performance, asset allocation data, plan actuarial data, statistical information, and a summary of plan provisions for the fiscal year ending June 30, 2024.

Some of the highlights in this year’s report include:

• The System serves over 27,000 members, including active, DROP, deferred vested, and retired members and beneficiaries.
• Pension benefits were actuarially funded at 99.8% (increase of +0.3%) and health subsidy benefits were funded at 78.2% (increase of +0.5%). The combined funded status for pension and health benefits is 97.0% (increase of +0.2%).
• System assets totaled $31.35 billion on a market value basis.

LAFPP continues to evolve as an organization as we strive to provide a secure and prosperous future for our members. The Board and staff are committed to prudent and sound investment strategies to grow and protect Plan assets over the long-term.

In addition to this report, our historical annual reports, actuarial valuations, and financial statements are available on the Financial Reports page of our website.

LAFPP is pleased to present our 2023 Annual Report. This report provides financial information, such as the department’s budget summary, investment performance, asset allocation data, plan actuarial data, statistical information, and a summary of plan provisions for the fiscal year ending June 30, 2023.

Some of the highlights in this year’s report include:

• The System serves approximately 27,478 members, including active, DROP, deferred vested, and retired members and beneficiaries.
• Pension benefits were actuarially funded at 99.5% (change of +1.5%) and health subsidy benefits were funded at 77.7% (change of +3.4%). The combined funded status for pension and health benefits is 96.8% (change of +1.8%).
• System assets totaled $29.39 billion on a market value basis.

LAFPP continues to grow as an organization as we strive to be a leader and innovator in the public pension industry. The Board and staff are committed to prudent and sound investment strategies to grow and protect Plan assets over the long-term to secure the retirement benefits of our members.

In addition to this report, our historical annual reports, actuarial valuations, and financial statements are available on the Financial Reports page of our website.

LAFPP provides an important link between your active work-life and retirement. Regardless if you’re a new member looking for information on your benefits or a veteran deciding on your retirement date, LAFPP remains prepared and committed to excellent customer service. We are available via email, phone, in-person and virtually!

WE ARE OPERATING NORMALLY AND READY TO ASSIST ALL OF OUR MEMBERS!

Skip the trip to the office and complete most of your tasks online or by phone. Our enhanced services are the fastest and most convenient way to do business with LAFPP. Whether you need quick information or detailed answers to your questions, we’re here to help you get more acquainted with your benefits – anytime, anywhere!

All services remain available to LAFPP members who need them. Read more about our enhanced services below:

Prefer to speak to a live person? Call us Monday-Friday from 7:30 a.m. to 4:30 p.m.

Knowledgeable specialists are available to answer any of your benefits questions!

Phone

Unable to reach us during business hours? Send us a message via our Contact Us page or by sending an email directly to PENSIONS@lafpp.com

Contact Us

With a MyLAFPP account, you have 24/7 access to your member information. You can:

• Review/update your beneficiaries
• Run retirement estimates
• View active member statements and retiree 1099-R tax forms and much more!

Click on our “Helpdesk“ to view step-by-step instructions for the most common MyLAFPP tasks.

MyLAFPP

Attend a FREE webinar! We have multiple offerings designed to fit within your busy schedule. Live hosts are ready to impart knowledge and answer your questions.

No need to take time off work or contend with traffic! View upcoming dates in our Seminars page.

LAFPP provides virtual group counseling sessions for members who are entering/exiting DROP or retiring on a service pension.

Here are 6 Key Benefits of Virtual Counseling. Contact the DROP/Service Pensions section today at (213) 279-3100 or DROPSP@lafpp.com.

Virtual benefits presentations provide your team/office exclusive time with an LAFPP specialist.

With no travel time, you can book us any time that’s convenient for your team. Contact the Communications & Education Section to set an appointment at (213) 279-3155 or PENSIONS@lafpp.com.

BOARD MEETINGS

We highly encourage you to continue to participate virtually by:

• Phone Dial-in via Zoom: Listen to the Board meeting with the ability to provide public comments via telephone.
• Council Phone System: Meeting is broadcast for live audio.
• Livestream: Web Stream for live audio and video.

You can find more details on the Board of Commissioners Meetings Page.

LAFPP.com is a treasure trove of information and provides tools to help you easily understand your benefits. Learn about Disability Retirement, the DROP Program, and Survivor Benefits from our Guides and Handbooks page. Gain valuable insights and updates from our Newsletters page. Prefer more detailed benefits information? Download a copy of your Summary Plan Description.

Our Learning Toolkit includes short videos and, for our new members, we have a Tier 6 New Member Walkthrough. Both of these tools provide the basics of your LAFPP Pension in an easy to follow format.

We understand that work and personal schedules are some of the biggest barriers to learning about your retirement benefits. However, advances in technology enable us to deliver more options easily and conveniently. Our enhanced services provide you with greater flexibility and access to your LAFPP benefits information – 24/7/365.

“Stop by” anytime and allow us the opportunity “to serve those who protect“.

Staff is available and ready to take your call during our normal business hours Monday-Friday from 7:30 a.m. to 4:30 p.m. (except on City holidays). In the event that you are unable to reach us during these hours, you may send us a message anytime via our “Contact Us” page or by sending an email directly to PENSIONS@lafpp.com.

LAFPP is pleased to present our 2022 Annual Report. This report provides financial information, such as the department’s budget summary, investment performance, asset allocation data, plan actuarial data, statistical information, and a summary of plan provisions for the fiscal year ending June 30, 2022.

Some of the highlights in this year’s report include:

• The System serves approximately 27,315 members, including active, DROP, deferred vested, and retired members and beneficiaries.
• Pension benefits were actuarially funded at 98.0% (change of +1.2%) and health subsidy benefits were funded at 74.3% (change of +9.6%). The combined funded status for pension and health benefits is 95.0% (change of +2.5%).
• System assets totaled $28 billion on a market value basis.

LAFPP continues to grow as an organization as we strive to be a leader and innovator in the public pension industry. The Board and staff are committed to prudent and sound investment strategies to grow and protect Plan assets over the long-term to secure the retirement benefits of our members.

In addition to this report, our historical annual reports, actuarial valuations, and financial statements are available on the Financial Reports page of our website.