News from the General Manager’s Desk

A More Personal GM Announcement

After much deliberation and discussion with my family, I have decided to retire as General Manager of LACERS and move on to the next chapter of my life as a LACERS Retiree. I have been contemplating this change for some time, given my health challenges, and it is my desire to have more time to spend with family.

I want to thank the entire staff and the Board for their incredible support over the past seven years as we have worked together to strengthen LACERS. When I joined the Department in 2018, the Plan had approximately $16.9 billion in assets, 144 regular position authorities, and 51,690 Active, Deferred Vested, and Retired Members. Since then, the Plan has grown significantly to more than $24.1 Billion, 195 position authorities, and over 61,000 total Members. Our LACERS family has certainly gotten bigger these past years.

Reflecting on my time with LACERS, we have endured a global pandemic, a Citywide Separation Incentive Program, several challenging budget years, and transitioned to our 977 N. Broadway offices. We worked together to achieve so much, from the implementation of a new pension administration system, new website, Member portal, online counseling, online retirement applications, two strategic plans, three asset allocations, three experience studies, language access, and wellness expansions, to name a few. These and many other achievements would not have been possible without your support, dedication, and hard work.

I am so appreciative of the leadership and support the LACERS Board of Commissioners has provided to myself and the entire LACERS team. I am also very thankful for the opportunity to serve LACERS Active and Retired Members and their families, to be able to serve those who have served the entire City of Los Angeles. Looking back at my City career, I have no regrets and feel privileged to have worked beside, with, and for you all.

Finally, I am eternally thankful for my family and their love and support. They mean the world to me. 

Sincerely,

Neil M. Guglielmo