LACERS - News Archive

LACERS News Archive

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. 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

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 os 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

Elected Officials

LACERS 101 to Elected Officials

Adoption of LACERS' Funding Policies to City Council
Board of Administraion
- Fiduciary Role and Responsibilities
- Actuarial 101

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

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