Category: Newsroom

The Board of Fire and Police Pension Commissioners held a special hearing to determine the future of the Fund’s contract with Fisher Asset Management. After a lengthy and deliberative discussion, the Board voted to terminate its contract with Fisher for management of an international large cap equity portfolio.The Board was open to practical solutions to make a positive change in the industry and to evaluate the best options for the Plan.

Representatives from Fisher Asset Management apologized and discussed their plans for formation of a task force to implement change within the company.  However, the Board ultimately decided to withdraw its assets from Fisher.

A plan for transferring assets will be discussed at the next meeting of the Board on November 7, 2019.

Fisher Asset Management worked with the Plan for over 15 years.

Each year in July, the Board of Fire and Police Pension Commissioners elects its Officers of the Board to serve one-year terms.  On July 18, 2019, the Board elected Adam Nathanson as President and Brian Pendleton as Vice President.

As President, Commissioner Nathanson will oversee the administration of the pension system; its assets, investments, actuarial services, rules and regulations.  Additionally, as Board President he will provide leadership in furthering the mission of LAFPP to advance the health and retirement security of those who dedicate their careers and risk their lives to protect the people of Los Angeles.  The Board President also exercises the following duties:

• Approves the Board agenda; presides at all Board meetings, ensuring that meetings are conducted in an efficient manner and in accordance with the City Charter and Administrative Code, applicable public meeting laws, and relevant Board policies;
• Determines who will act as spokesperson for the System should the need arise; and,
• Approves the travel expenses incurred by the General Manager and the Board.

As Vice President, Commissioner Brian Pendleton will assume the duties of the Board President when the President is absent or if the President should delegate the Vice President to act.  He will also assume the duties of the President if the President becomes unable to carry out his duties.

Congratulations to Commissioners Nathanson and Pendleton as they begin their new roles with the Board! 

On June 20, 2019, George Aliano attended his last official meeting as Commissioner of the Board of Fire and Police Pensions (Board).  After serving more than 18 years (February 14, 2001 – June 30, 2019) as the Police Retired Board member, Commissioner Aliano decided to not seek reelection for another term. He was first elected in February 2001 to serve the unexpired term of the former Police Department Retired Board Member and was since re-elected three times.  His successor, Garrett W. Zimmon, will be sworn in as the newly elected Police Retired Board member in July 2019.

Commissioner Aliano’s career spanned 34 years with the Los Angeles Police Department (LAPD). He was elected as the Lieutenant member and served over 12 years with the Los Angeles Police Protective League (7 years as President) and one year as President of the Los Angeles Police Command Officers’ Association. He worked closely with the United Firefighters of Los Angeles City (UFLAC) and was honored to receive their endorsement along with the Police Protective League’s and the Command Officers’ Association while a candidate for the Board of Fire and Police Pensions in 2001.

Commissioner Aliano’s accomplishments include:

• Retired as a Captain with LAPD
• Bachelor’s Degree in Police Administration from California State University, Los Angeles
• Master’s Degree in Public Administration from the University of Southern California
• Professional Designation Certificate in Industrial Relations from the University of Southern California
• Received LAPD’s Management Excellence Award
• Appointed by the Governor of California to the Commission to establish a Police Officer’s Memorial on the state capitol grounds
• Served as Trustee on the William S. Hart Union High School District School Board
• Served as a Member of the Personnel Commission of the Wm. S. Hart Union High School District
• Attended conferences and seminars continuing his education in pension and fiduciary responsibilities

Commissioner Aliano also served two years of active duty with the U.S. Army (1961-63), one year in Korea, and was honorably discharged as a Staff Sergeant.

On June 20, 2019, the Board recognized his service as a Board Member with family, staff, association and union representatives and other stakeholders in attendance.  He continually recognized and appreciated department staff and their efforts. He dedicated his active and retired career to the sworn members of the City of Los Angeles.  We will continue to recognize his long history of dedication, commitment and leadership.  Thank you Commissioner Aliano for your service!

LAFPP welcomes Commissioner Garrett W. Zimmon, the Police Department Retired Member-elect of the Board of Fire and Police Pension Commissioners! Commissioner Zimmon will be sworn into office in early July 2019 to fulfill his fiduciary responsibilities as a Board member.

The term of the Board’s current Police Department Retired Member, Commissioner George V. Aliano, ends on June 30, 2019. An election was held on Tuesday, April 23, 2019 for this position. A candidate must have received the majority of all votes cast in order to have won the election. As no candidate received a majority, a runoff election between the two (2) candidates who received the greatest amount of votes cast was held on Friday, May 31, 2019. Commissioner Zimmon received 57.98% of the vote and will serve the term of office from July 1, 2019 until June 30, 2024.

Welcome Commissioner Zimmon and congratulations on your election!