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, 2001-2023

Fiscal Year Net Assets (billions)
2001 6.54
2002 5.99
2003 5.99
2004 6.90
2005 7.41
2006 8.23
2007 9.73
2008 9.08
2009 7.14
2010 7.84
2011 9.23
2012 9.10
2013 10.20
2014 11.84
2015 11.98
2016 11.87
2017 13.25
2018 14.31
2019 14.90
2020 15.01
2021 19.02
2022 17.11
2023 18.05

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2023

Fiscal Year Los Angeles ERS US State and Local Pensions
2001 1.9 2.4
2002 1.9 2.3
2003 1.9 2.2
2004 1.9 2.1
2005 1.9 2.1
2006 2.0 2.0
2007 2.0 2.0
2008 2.0 1.9
2009 2.0 1.9
2010 1.5 1.8
2011 1.5 1.7
2012 1.4 1.6
2013 1.4 1.5
2014 1.4 1.4
2015 1.3 1.4
2016 1.3 1.4
2017 1.4 1.4
2018 1.3 1.3
2019 1.3 1.3
2020 1.3 1.3
2021 1.1 1.2
2022 1.1 1.2
2023 1.1 1.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Los Angeles ERS, 2001-2023

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll
2001 4.6 0.0 8.7 4.6
2002 2.4 0.0 8.7 2.4
2003 3.7 0.0 10.5 3.7
2004 6.4 3.7 11.8 10.1
2005 10.0 1.6 13.7 11.5
2006 13.1 0.0 14.3 13.1
2007 14.6 0.0 13.9 14.6
2008 14.6 0.0 12.8 14.6
2009 15.1 0.0 14.4 15.1
2010 14.2 0.0 15.5 14.2
2011 16.6 0.0 16.4 16.6
2012 17.0 0.0 18.1 17.0
2013 18.7 0.0 20.3 18.7
2014 18.8 0.0 20.6 18.8
2015 20.8 0.0 20.6 20.8
2016 23.5 0.0 21.5 23.5
2017 23.0 0.0 21.4 23.0
2018 21.9 0.0 22.5 21.9
2019 22.7 0.0 22.6 22.7
2020 24.4 0.0 23.4 24.4
2021 24.4 0.0 23.6 24.4
2022 27.4 0.0 24.1 27.4
2023 29.0 0.0 23.6 29.0

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for Los Angeles ERS, 2001-2023

Fiscal Year Los Angeles ERS National Data
2001 108.1 101.7
2002 97.4 94.6
2003 91.4 88.8
2004 82.5 87.0
2005 77.2 85.4
2006 77.8 85.2
2007 81.7 86.3
2008 84.4 84.4
2009 79.5 78.4
2010 75.9 75.7
2011 72.4 74.3
2012 69.0 72.3
2013 68.7 71.8
2014 67.4 73.2
2015 69.4 73.2
2016 71.4 71.6
2017 71.4 72.0
2018 70.1 72.4
2019 71.3 72.5
2020 69.4 72.6
2021 71.6 75.8
2022 73.3 76.2
2023 73.1 74.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for Los Angeles ERS, 2023

Category Percent
Equities 45.3
Fixed Income 13.8
Private Equity 18.9
Real Estate 0.0
Cash 0.8
Other 0.0
Commodities 12.8
Hedge Fund 8.5
Misc. Alternatives 0.0

Source: Public Plans Database

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Asset Allocation for State and Local Pensions, 2023

Category Percent
Equities 42.2
Fixed Income 20.5
Private Equity 14.0
Real Estate 10.5
Cash 1.8
Other 0.1
Commodities 2.7
Hedge Fund 6.6
Misc. Alternatives 1.8

Source: Public Plans Database

National data averages are weighted by plan size.

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Asset allocation for Los Angeles ERS, 2001-2023

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
2019 55.9 17.3 11.2 0.0 0.3 0.0 9.9 5.5 0.0
2020 53.4 16.7 11.3 0.0 1.6 0.0 11.3 5.7 0.0
2021 49.5 15.9 13.5 0.0 2.0 0.0 10.8 8.3 0.0
2022 44.6 15.1 19.0 0.0 0.4 0.0 13.0 8.0 0.0
2023 45.3 13.8 18.9 0.0 0.8 0.0 12.8 8.5 0.0

Source: Public Plans Database

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Annual Return as of June 30 for Los Angeles ERS, 2001-2023

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
2019 6.15 7.25
2020 1.24 7.00
2021 29.29 7.00
2022 -6.86 7.00
2023 6.93 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

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Cash Flows

Cash Flow vs. Total Assets (Millions)
Los Angeles ERS
2001-2023

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
2019 -219.5 14,895.8
2020 -189.6 15,012.1
2021 -294.9 19,023.7
2022 -362.1 17,106.3
2023 -322.6 18,048.9

Source: Public Plans Database

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Note: The PPD average is for plans with a similar fiscal year end (FYE) date to the plan presented on this page.


Cash Flow as a Percentage of Assets
Los Angeles ERS
2001-2023

Fiscal Year Los Angeles ERS National Average
2001 -2.7 -2.0
2002 -3.8 -2.4
2003 -3.8 -2.5
2004 -2.7 -1.8
2005 -2.1 -2.2
2006 -1.4 -2.2
2007 -0.9 -2.0
2008 -1.1 -2.1
2009 -1.9 -3.1
2010 -2.8 -3.2
2011 -2.9 -3.0
2012 -2.2 -3.2
2013 -1.7 -3.1
2014 -1.5 -2.9
2015 -1.4 -2.7
2016 -1.2 -2.9
2017 -1.1 -2.8
2018 -1.3 -2.4
2019 -1.5 -2.4
2020 -1.3 -2.3
2021 -1.6 -2.0
2022 -2.1 -1.9
2023 -1.8 -1.9

Source: Public Plans Database

National data averages are weighted by plan size.

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2022 Financial Reports

Benefits

Website for Los Angeles ERS benefit descriptions.