b'MEMBERSHIP STATISTICSFIRE AND POLICE PENSION PLANSAs of June 30, 2024, Los Angeles Fire and Police Pensions (System) is composed of six tiers. Benefits are based on the members pension tier, pension salary base, and years of service. In addition, the System provides disability pension benefits and benefits to eligible survivors.Membershiredpursuanttotheprovisionsof Article XI 1/2 of the 1925 City of Los Angeles Charter areknownasfluctuators.Fluctuatorpension-ers receive 50% of the current salary received by theclassificationfromwhichtheyretired.Such beneficiaries are included in Tier 1 for purposes of the Systems actuarial valuations.Members hired from July 1, 1925 through January 28, 1967 participate in Tier 1 (formerly Article XVII). Tier2(formerlyArticleXVIII)includesmembers hired from January 29, 1967 through December 7, 1980, and Tier 1 members who elected to transfer during an enrollment period.Tier3(formerlyArticleXXXV,Plan1)consistsof members hired from December 8, 1980 throughfrom the Los Angeles City Employees Retirement June30,1997.MembershiredfromJuly1,1997System (LACERS) from January 8, 2006 to January through December 31, 2001 are in Tier 4 (formerly5, 2007.Article XXXV, Plan 2). Tier 4 also includes membersTier 6 consists of all new members hired on or after whoelectedtotransferfromTier3duringanJuly 1, 2011.enrollmentperiod.Additionally,Tier4members hired from July 1, 1997 through December 31, 1997On July 1, 2012, the Department of General Services, weregiventheopportunitytotransfertoTier3Office of Public Safety (OPS) was consolidated into during an enrollment period. the Los Angeles Police Department (LAPD). As a Tier5includesmembershiredfromJanuary1,result, OPS employees who transitioned to regular 2002throughJune30,2011.ActivemembersinLAPD sworn classifications could make an election Tiers 24 were allowed to transfer to Tier 5 duringto opt out of LACERS and become Tier 6 members an enrollment period. of the System. The opt-out election period expired on December 12, 2014.Additionally,alleligibleswornmembersoftheAll eligible sworn members of the Airport Depart-Harbor Department hired on or after January 8,ment hired on or after January 7, 2018, become 2006 become members of the System. Membersmembers of Tier 6. Airport Peace Officers hired hired from January 8, 2006 through June 30, 2011priortoJanuary7,2018,wereprovidedthe are in Tier 5. Those hired prior to January 8, 2006,option to transfer to Tier 6 from LACERS effective wereprovidedtheoptiontotransfertoTier5January 7, 2018.118 LAFPP ANNUAL REPORT 2024'