The City of Los Angeles Pension Savings Plan (PSP) is the City’s retirement savings plan for part-time, temporary, or seasonal employees. The Pension Savings Plan is administered by the City’s Personnel Department, which has contracted with MissionSquare Retirement to provide administrative and investment services.

Participation in this Plan is mandatory for those employees who are not eligible to participate in one of the City’s three retirement/pension programs.  If you were in the Drill Tower or Police Academy training in 1994 to the present, you made mandatory contributions. 

Once you convert to full-time status, the contributions to the Pension Savings Plan cease. For a Police member this is when you graduate from the Police Academy or Drill Tower for a Fire member. Upon your graduation, you became a member of the LAFPP System.

Los Angeles Fire & Police Pensions (LAFPP) is a defined benefit retirement plan for full-time sworn employees. The City of Los Angeles Deferred Compensation Plan is a supplementary retirement savings plan.

If you are currently or were previously a part-time, temporary, or seasonal employee and believe you have a balance in the Pension Savings Plan, you can access your account here or by contacting MissionSquare at 1-800-669-7400. If you do not know your account information, please contact MissionSquare.

Once you convert to full-time status or separate form City employment, you may elect one of two options regarding the balance:

1. Enroll in the City’s Deferred Compensation Plan (457 plan) to continue contributing to a tax-deferred plan and transfer all the money from your Pension Savings Plan account to the Deferred Compensation Plan, or
2. Leave the funds in your Pension Savings Plan account until you separate from City service. The funds earn an interest-bearing rate at about 2% per year.

For additional information on the Pension Savings Plan, contact the City’s Personnel Department, Employee Benefits section (833) 452-9355 or visit their website at Employee Benefits (lacity.gov).

For questions regarding your Pension Savings Plan, contact Mission Square at (800) 669-7400.

For Deferred Compensation information, please visit their website at Pension Savings Plan — City of Los Angeles Deferred Compensation Plan (la457.com).