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LAFPP is pleased to present our <a href="https://content.lafpp.lacity.gov/wp-content/uploads/2025/03/LAFPP_AnnualReport_2024_web-FINAL-WEB-3-4-2025.pdf">2024 Annual Report</a>. This report provides financial information, such as the department’s budget summary, investment performance, asset allocation data, plan actuarial data, statistical information, and a summary of plan provisions for the fiscal year ending June 30, 2024.



Some of the highlights in this year’s report include:



<ul>
<li>The System serves over 27,000&nbsp;members, including active, DROP, deferred vested, and retired members and beneficiaries.</li>



<li>Pension benefits were actuarially funded at 99.8% (increase of +0.3%) and health subsidy benefits were funded at 78.2% (increase of +0.5%). The combined funded&nbsp;status for pension and health benefits is 97.0% (increase of +0.2%).</li>



<li>System assets totaled $31.35&nbsp;billion on a market value basis.</li>
</ul>







LAFPP continues to evolve as an organization as we strive to provide a secure and prosperous future for our members. The Board and staff are committed to&nbsp;prudent and sound investment strategies to grow and protect Plan assets over the long-term.



In addition to this report, our historical annual reports, actuarial valuations, and financial statements are available on the <a href="https://lafpp.lacity.gov/about/inside-lafpp/financial-reports">Financial Reports</a> page of our website.

LAFPP’S 2024 ANNUAL REPORT IS NOW AVAILABLE

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