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There are various measures that can be reviewed to determine the overall health of a retirement plan. One such measure is the plan’s funded ratio, which is the ratio of a retirement plan’s assets to its liabilities (i.e., the pension or retiree health benefits we expect to provide to members).



Based on the actuarial report for the period ending June 30, 2024, the combined funded ratio for pension and health benefits is 97.0%, up from 96.8% the previous year. This marks the seventh consecutive year that the combined funded ratio has increased for LAFPP. The pension benefit funded ratio is now 99.8%, up from 99.5%, and the retiree health benefit funded ratio increased from 77.7% to 78.2%. The favorable results are indicative of the continued strength and stability of LAFPP.



Every year a valuation of the LAFPP fund is performed by the Board’s actuary. The valuation reviews the System’s assets and liabilities and establishes the City’s (including the Harbor and Department of Airports) contribution to the fund for each fiscal year. The City’s combined contribution rate, payable on July 15, 2025, will decrease by 2.87% of sworn payroll, from 38.51% to 35.64%. The contribution rate decrease is primarily due to the net loss layer from the June 30, 2009 valuation being fully amortized and the higher than expected investment return on the valuation value of assets (after smoothing), partially offset by higher than expected salary increases for active members and COLA increases for retirees and beneficiaries. The overall unfunded liabilities have decreased from $975 million to $955 million.



The actuarial valuation reports can be found on the&nbsp;<a href="https://lafpp.com/about/inside-lafpp/financial-reports">Financial Reports&nbsp;</a>page of our website.

2024 Valuation Reports Approved

May 2025

April 2025

March 2025

February 2025

September 2025

January 2025

August 2025

July 2025

June 2025

December 2025

November 2025

October 2025

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