Los Angeles County Employees Retirement Association

LACERA was established on January 1, 1938, following passage of the County Employees Retirement Law of 1937 (CERL), which mandates LACERA to pay for the defined retirement benefits of Los Angeles County employees and their beneficiaries. In 1971, LACERA began administering a retiree healthcare benefits program. ==Management==

LACERA is governed by two Boards: The Board of Retirement's members are appointed as follows: The Board of Investments’ members are appointed as follows: • Four members – appointed by the Los Angeles County Board of Supervisors • Two members – elected by general members • One member – elected by safety members • One member – elected by retired members • One member – the Los Angeles County Treasurer and Tax Collector, who serves as an ex-officio member, as required by California law • One member – the Los Angeles County Chief Deputy Treasurer and Tax Collector, who serves as an ex-officio member, as required by California law The Board of Investments meets at 9 a.m. on the second Wednesday of each month. ==Benefits==

Health care benefits LACERA provides health insurance plans for its retired members. LACERA covers 100% of healthcare premiums (up to the benchmark rate) for Los Angeles County retirees who have at least 25 years of public service. For members with 10 years of public service, LACERA contributes 40% of health care plan premiums, with an additional contribution of 4% for each additional year worked. Retirement plans LACERA offers two tracks of retirement plans, for general members (civil servants) and for safety members (safety employees, including sheriff deputies and firefighters), further subdivided as follows: ==Finances==

As of June 30, 2024, LACERA's net assets were worth , an increase of $5.4 billion, or 7.2%, from the prior year. The latest actuarial valuation on June 30, 2024, determined that LACERA had a funded ratio of actuarial assets to the actuarial accrued liability of 79.9%, from the prior year. For fiscal year (FY) 2023–24, LACERA's fiscal-year-to-date return on investments was 0.91%; the FY 2022-23 return was 6.40%. Historically, investment earnings have accounted for about 70% of the money necessary to pay the promised benefits. == Reciprocity ==

LACERA has reciprocity with the other California public retirement systems, including: • California Public Employees’ Retirement System (CalPERS) • Judges' Retirement System • LA County Metropolitan Transportation Authority Retirement System • Los Angeles City Employees’ Retirement System (LACERS) • 19 CERL Counties (county retirement systems established County Employees Retirement Law) LACERA also recognizes other California public agencies and districts, cities, counties, school districts, superintendents of schools and others that are covered by CalPERS, including the California State Teachers' Retirement System (CalSTRS) and University of California Retirement Plan (UCRP). == Corporate Governance ==

LACERA is one of eight institutional investors represented by the Shareholder Rights Projects, which worked to present shareholder declassification proposals in S&P 500 annual meetings.'''''' ==See also==