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Overview of Program Mandates

The LACERS Board invests the assets of the retirement system to help pay for the cost of providing benefits to its members.  Its Investment program aims to fulfill several mandates of the City Charter §1106 including defray the reasonable expenses of administering the system; diversify the investments of the system so as to minimize the risk of loss and to maximize the rate of return, unless under the circumstances it is clearly not prudent to do so; and exercising a Prudent Expert Standard to discharge its duties with respect to its system with the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with these matters would use in the conduct of an enterprise of a like character and with like aims.