Los Angeles Fire and Police Pensions

What Los Angeles Fire and Police Pensions does

Los Angeles Fire and Police Pensions (LAFPP) is a City of Los Angeles government pension system that administers defined benefit retirement plans for sworn members of the Los Angeles Fire Department, Los Angeles Police Department, Los Angeles Harbor Department, and Los Angeles Airport Department. The organization operates across six membership tiers (Tier 1 through Tier 6); Tier 1 members are all retired, Tiers 2-5 contain both active and retired members, and Tier 6 is the sole tier currently accepting new hires. The system is governed by a nine-member Board of Fire and Police Pension Commissioners, with five members appointed by the Mayor and confirmed by the City Council, and four elected by the membership.

LAFPP's product set centers on service pensions, disability pensions tied to line-of-duty injuries, survivor pensions, retiree health and dental insurance subsidies (including Medicare Part B premium reimbursement), and the Deferred Retirement Option Plan (DROP), which credits accumulated pension payments into a member account at a guaranteed 5% annual interest. Member-facing technology is concentrated in the MyLAFPP online portal (hosted at lafpp-members.cpashosting.com), which provides 24/7 self-service access to retirement estimates, DROP calculations, beneficiary updates, 1099-R forms, tax withholding management, health subsidy information, pension statements, and secure document exchange. The organization also publishes structured educational content (DROP Handbook, Survivor Benefits Handbook, Medicare Handbook, Tier 6 FAQ, Disability Pension Guide) and operates a video catalog and Learning Toolkit.

The system is funded through three streams: percentage-of-salary member contributions determined by tier, City of Los Angeles employer contributions, and investment returns generated by a $35.9 billion portfolio (unaudited, March 31, 2026) allocated across public equities, fixed income, private equity, private credit, and real estate. LAFPP runs Emerging Manager Programs spanning Public Equity, Private Equity, Private Credit, Fixed Income, and Real Estate, and engaged StepStone Group in June 2023 as its private credit consultant. Distribution is direct to a closed membership of sworn public-safety personnel; there is no commercial pricing and members do not pay for plan services.

Name

Los Angeles Fire and Police Pensions

Legal name

Los Angeles Fire and Police Pensions

Website

https://lafpp.com

Company type

Private

Founded year

1899

Operating status

Operating

Short description

Los Angeles Fire and Police Pensions is a City of Los Angeles government pension system administering defined benefit retirement plans across six tiers for sworn personnel of the LA Fire, Police, Harbor, and Airport Departments, managing approximately $35.9 billion in pension assets.

Ownership category

akta.pro rank

Product category

Public Pension Administration

NAICS

Pension Funds (525110), Pension Funds (52511), Health and Welfare Funds (525120), Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)

akta.pro primary industry

Pensions & Retirement Benefits Administration (BPAIAKAA)

akta.pro secondary industries

Liability-Driven Investment (LDI) & Pension Risk Transfer (PRT) Asset Management (FSAAAGAI), Benefits Administration & Enrollment Support (BPAAAIAB)

Keywords

• Public pension administration
• Defined benefit plans
• Retirement benefits management
• Government pension fund
• Public safety pensions

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Others

Revenue model

1. Member Contributions: Sworn members of Fire, Police, Harbor, and Airport Departments contribute a percentage of their salary to the pension plan based on their tier membership
2. City of Los Angeles Contributions: The City of Los Angeles makes employer contributions to fund the pension obligations
3. Investment Returns: Returns from the $35.9B investment portfolio including public equities, fixed income, private equity, private credit, and real estate generate income to support pension benefits

Pricing tiers

Distribution channels1 record

Marketing channels7 records

Core offering

Los Angeles Fire and Police Pensions (LAFPP) administers defined benefit retirement plans for sworn members of the Los Angeles Fire, Police, Harbor, and Airport Departments across six membership tiers. Its core services include service and disability pension payments, the Deferred Retirement Option Plan (DROP) with guaranteed interest, survivor benefits, retiree health and dental insurance subsidies including Medicare Part B premium reimbursement, and management of a $35.9 billion investment portfolio. Members access services through the MyLAFPP online portal, dedicated service sections, and educational programs.

Product overview

Los Angeles Fire and Police Pensions (LAFPP) is a municipal pension administration system providing retirement and benefits services to sworn members of the Los Angeles Fire, Police, Harbor, and Airport Departments. The organization administers six tiered pension plans (Tier 1-6) with core offerings including service pensions, disability pensions, and survivor benefits. Key products include the MyLAFPP member portal for 24/7 self-service access, the Deferred Retirement Option Plan (DROP) for retirement savings optimization, health and dental subsidy programs with Medicare Part B reimbursement, and investment portfolio management of approximately $35.9 billion in assets. The organization also publishes educational materials including the DROP Handbook, Survivor Benefits Handbook, Medicare Handbook, and Tier 6 FAQ Brochure, along with the Pension Perspectives quarterly newsletter. LAFPP also operates Emerging Manager Programs across public equity, private credit, fixed income, and real estate asset classes.

Differentiator

Problem solved

Functional benefit

Products and services

• Pension Management System

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• StepStone GroupcoreStrategic or Co-development Partner · 1 June 2023StepStone Group was hired as LAFPP's private credit consultant in June 2023 to support the new Private Credit Emerging Manager Program, helping LAFPP broaden participation in its investment program while maintaining fiduciary standards.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Others

• StepStone Group: StepStone Group was hired in June 2023 as LAFPP's private credit consultant supporting its Emerging Manager Program. While not a peer in delivering benefits, StepStone is a relevant institutional partner serving the same defined benefit pension fund segment with investment advisory services.

Broad incumbents

• Florida State Board of Administration (SBA): Florida SBA manages the FRS Pension Plan and other state investment portfolios, providing a comparable model of large-scale public pension/benefit fund asset management similar in mandate to LAFPP's investment program.
• Texas Teachers Retirement System (TRS): Texas TRS is a large U.S. public defined benefit pension system with comparable COLA administration, retiree health subsidy programs, and multi-tier member structures relevant to LAFPP's operational scope.
• New York State Common Retirement Fund: New York's statewide public pension fund administers retirement benefits for state and local public employees including public safety, with portfolio scale, member self-service portals, and COLA practices comparable to LAFPP.
• CalSTRS (California State Teachers' Retirement System): CalSTRS is California's teacher retirement system — a large public defined benefit plan with a similarly complex multi-tier structure, COLA administration, and retiree health benefit obligations analogous to LAFPP's sworn-public-safety scope.
• CalPERS (California Public Employees' Retirement System): CalPERS is the largest U.S. public pension fund and California state/local public employee retirement system. While much larger and broader in scope than LAFPP, it shares the same California public-sector defined benefit operating model, member contribution structure, and investment management discipline.

Regional players

• Los Angeles County Employees Retirement Association (LACERA): LACERA administers the retirement plan for Los Angeles County employees. While it serves a broader civilian/g county workforce rather than sworn public safety, it is the closest geographic pension peer to LAFPP and faces the same City/County of LA employer-funding dynamics.
• San Diego City Employees' Retirement System (SDCERS): SDCERS administers pensions for City of San Diego employees including sworn public safety. Operates a comparable California municipal pension system model with tiered benefits and COLA structures mirroring LAFPP.

Direct peers

• San Francisco Employees' Retirement System (SFERS): SFERS administers pension benefits for sworn police, fire, and miscellaneous employees of the City and County of San Francisco. It is the most direct structural peer to LAFPP, operating a tiered defined benefit plan for public safety personnel in another major California municipality.
• Chicago Public School Teachers' Pension and Retirement Fund: Chicago's public school teacher pension fund operates a tiered defined benefit pension with COLA, retiree health subsidies, and DROP-style programs — structurally analogous to LAFPP's sworn-public-safety pension administration model.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/lafpp

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Los Angeles Fire and Police Pensions