Los Angeles ERS Basics

  • Established 1937
  • Currently open to new hires
  • Plan covers local employees
  • Plan members not covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, Los Angeles ERS, 2001-2018

Fiscal Year Net Assets (billions)
2001 6.5
2002 6.0
2003 6.0
2004 6.9
2005 7.4
2006 8.2
2007 9.7
2008 9.1
2009 7.1
2010 7.8
2011 9.2
2012 9.1
2013 10.2
2014 11.8
2015 12.0
2016 11.9
2017 13.3
2018 14.3

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2018

Fiscal Year Los Angeles ERS US State and Local Pensions
2001 1.9 2.2
2002 1.9 2.2
2003 1.9 2.2
2004 1.9 2.2
2005 1.9 2.1
2006 2.0 2.0
2007 2.0 2.0
2008 2.0 1.9
2009 2.0 1.8
2010 1.5 1.8
2011 1.5 1.7
2012 1.4 1.6
2013 1.4 1.5
2014 1.4 1.5
2015 1.3 1.4
2016 1.3 1.4
2017 1.4 1.5
2018 1.3 1.5

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Los Angeles ERS, 2001-2018

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 4.6 0.0 9.5 4.6 4.6
2002 2.4 0.0 10.1 2.4 2.4
2003 3.7 0.0 10.4 3.7 3.7
2004 6.4 3.7 11.1 10.1 10.1
2005 10.0 1.6 12.1 11.5 11.5
2006 13.1 0.0 12.3 13.1 13.1
2007 14.6 0.0 11.6 14.6 14.6
2008 14.6 0.0 10.1 14.6 14.6
2009 15.1 0.0 11.5 15.1 15.1
2010 14.2 0.0 12.8 14.2 14.2
2011 16.6 0.0 13.6 16.6 16.6
2012 17.0 0.0 14.4 17.0 17.0
2013 18.7 0.0 16.6 18.7 18.7
2014 18.8 0.0 16.4 18.8 18.8
2015 20.0 0.0 17.0 20.0 20.0
2016 22.4 0.0 17.0 22.4 22.4
2017 22.4 0.0 14.3 22.4 22.4
2018 20.7 0.0 14.7 20.7 20.7

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Los Angeles ERS, 2001-2018

Fiscal Year Los Angeles ERS National Data
2001 108.1 98.7
2002 97.4 85.4
2003 91.4 83.7
2004 82.5 84.1
2005 77.2 83.5
2006 77.8 86.8
2007 81.7 89.5
2008 84.4 77.0
2009 79.5 73.3
2010 75.9 75.5
2011 72.4 73.4
2012 69.0 74.9
2013 68.7 75.4
2014 67.4 77.4
2015 69.4 79.1
2016 71.4 76.5
2017 71.4 77.6
2018 70.1 75.6

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for Los Angeles ERS, 2018

Category Percent
Equities 57.8
Fixed Income 17.5
Private Equity 10.3
Real Estate 0.0
Cash 0.4
Other 0.0
Commodities 9.4
Hedge Fund 4.6
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2018

Category Percent
Equities 48.3
Fixed Income 22.2
Private Equity 9.0
Real Estate 8.4
Cash 1.8
Other 0.3
Commodities 1.9
Hedge Fund 7.0
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Los Angeles ERS, 2001-2018

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 59.0 32.0 4.0 4.0 1.0 0.0 0.0 0.0 0.0
2002 56.6 34.6 3.5 4.6 0.7 0.0 0.0 0.0 0.0
2003 62.7 26.8 3.8 4.5 2.2 0.0 0.0 0.0 0.0
2004 66.6 25.4 3.9 3.2 0.9 0.0 0.0 0.0 0.0
2005 65.8 26.5 4.9 2.5 0.3 0.0 0.0 0.0 0.0
2006 64.8 25.0 5.7 4.0 0.5 0.0 0.0 0.0 0.0
2007 65.7 22.4 6.7 4.5 0.7 0.0 0.0 0.0 0.0
2008 59.8 24.8 8.6 5.9 0.9 0.0 0.0 0.0 0.0
2009 56.8 27.0 9.3 6.3 0.6 0.0 0.0 0.0 0.0
2010 55.9 28.0 10.5 5.0 0.6 0.0 0.0 0.0 0.0
2011 58.6 24.6 10.0 5.3 1.5 0.0 0.0 0.0 0.0
2012 56.0 25.3 11.2 6.1 0.7 0.0 0.0 0.7 0.0
2013 60.0 22.7 10.0 5.7 0.8 0.0 0.0 0.8 0.0
2014 62.7 19.9 9.0 5.1 1.1 0.0 0.0 2.2 0.0
2015 57.5 19.8 9.5 0.0 1.2 0.0 7.8 4.2 0.0
2016 53.7 19.1 10.1 0.0 1.1 0.0 11.0 5.0 0.0
2017 57.5 17.4 10.0 0.0 0.4 0.0 9.7 5.0 0.0
2018 57.8 17.5 10.3 0.0 0.4 0.0 9.4 4.6 0.0

Source: Public Plans Database


Annual Return as of June 30 for Los Angeles ERS, 2001-2018

Fiscal Year Los Angeles ERS Assumed return
2001 -4.20 8.00
2002 -4.80 8.00
2003 4.50 8.00
2004 18.60 8.00
2005 10.00 8.00
2006 12.40 8.00
2007 19.50 8.00
2008 -5.70 8.00
2009 -19.60 8.00
2010 12.90 8.00
2011 22.60 7.75
2012 1.10 7.75
2013 14.30 7.75
2014 18.40 7.50
2015 2.60 7.50
2016 0.30 7.50
2017 13.10 7.25
2018 9.20 7.25

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Los Angeles ERS
2001-2018

Fiscal Year Cash Flow Assets
2001 -179.4 6,537.1
2002 -225.4 5,991.4
2003 -226.6 5,985.1
2004 -187.2 6,895.3
2005 -155.2 7,413.5
2006 -112.0 8,226.9
2007 -85.4 9,733.1
2008 -99.6 9,083.2
2009 -137.7 7,144.6
2010 -218.9 7,836.8
2011 -264.4 9,227.2
2012 -201.8 9,098.2
2013 -174.2 10,199.6
2014 -175.4 11,844.4
2015 -171.9 11,981.1
2016 -138.5 11,870.2
2017 -144.0 13,250.7
2018 -187.3 14,313.2

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Los Angeles ERS
2001-2018

Fiscal Year Los Angeles ERS National Average
2001 -2.7 -0.8
2002 -3.8 -1.0
2003 -3.8 -0.9
2004 -2.7 -0.5
2005 -2.1 -0.5
2006 -1.4 -0.6
2007 -0.9 -0.6
2008 -1.1 -0.8
2009 -1.9 -1.4
2010 -2.8 -1.3
2011 -2.9 -1.6
2012 -2.2 -1.6
2013 -1.7 -2.0
2014 -1.5 -1.8
2015 -1.4 -0.5
2016 -1.2 -2.4
2017 -1.1 -2.3
2018 -1.3 -2.6

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Los Angeles ERS benefit descriptions.