b'The 2023-24 Business Plan included thirteen projects, twelve of which were completed, with the other meeting its 2023-24 milestones and continuing as a multi-year project in the 2024-25 Annual Plan. During Fiscal Year 2023-24, staff completed twelve projects which included:Monitoring of management audit recommendations;Secure access to all information technology resources;Secure messaging and document uploads in the MyLAFPP member web portal;Enhanced subsidy and reimbursement stakeholder outreach;Non-Qualified Survivor Benefit Purchase Program Initiative;Elimination of the deceased pensioners database;Replacing the Disability Claims Management Database;Cost Effectiveness Measurement (CEM) benchmarking;Investments training for LAFPP staff and the Board;Employee Development Program;Diversity, Equity, and Inclusion (DEI) Training Initiative and Program; and,Efforts to advance DEI in our Investment Program. Details regarding the Fiscal Year 2023-24 Business Plan can be found on our website athttps://lafpp.lacity.gov/about/strategic-and-annual-plans. STRATEGIC PLANNING ADVANCEMENTSIn September 2023, the Board selected TurningWest to lead the development of the 2025-2027 Strategic Plan. This comprehensive process included an environmental scan with interviews of Board members and staff, a strategic planning session for senior staff, and a collaborative workshop with member repre-sentatives. These efforts culminated in the adoption of a new strategic planning framework and three SMART goals designed to enhance the member experience, promote inclusivity in investment manage-ment, and foster employee development.The new framework restructures the previous Goals, Objectives, and Strategic Initiatives as Guiding Principles to better reflect their enduring nature. Additionally, the Business Plan has been renamed as the Annual Plan to identify the specific objectives, activities, and budget for a single year.This focused approach ensures that resources are effectively allocated to advance the Departments mission and vision. In closing, I extend my gratitude to our Board, staff, and stakeholders for their unwavering support and commitment to the Plans mission. Together, we will continue to build on these successes to ensure a secure and prosperous future for our members.Sincerely, Joseph SalazarGeneral ManagerSECTION 1 Introduction 7'