LA County ERS Basics

  • Established 1938
  • Currently open to new hires
  • Plan covers local employees
  • Plan members not covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, LA County ERS, 2001-2019

Fiscal Year Net Assets (billions)
2001 28.4
2002 26.0
2003 26.2
2004 29.5
2005 32.0
2006 35.2
2007 40.9
2008 38.7
2009 30.5
2010 33.4
2011 39.5
2012 38.3
2013 41.8
2014 47.7
2015 48.8
2016 47.8
2017 52.7
2018 56.3
2019 58.3

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year LA County ERS US State and Local Pensions
2001 1.9 2.2
2002 1.9 2.2
2003 1.9 2.2
2004 1.8 2.2
2005 1.7 2.1
2006 1.7 2.0
2007 1.8 2.0
2008 1.8 1.9
2009 1.8 1.8
2010 1.7 1.8
2011 1.7 1.7
2012 1.6 1.6
2013 1.6 1.5
2014 1.6 1.5
2015 1.5 1.4
2016 1.5 1.4
2017 1.5 1.5
2018 1.5 1.5
2019 1.5 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 LA County ERS, 2001-2019

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 8.9 0.0 9.5 8.9 8.9
2002 8.7 0.0 10.1 8.7 8.7
2003 10.5 0.0 10.4 10.5 10.5
2004 10.6 0.0 11.1 10.6 10.6
2005 15.1 0.0 12.1 15.1 15.1
2006 16.4 0.0 12.3 16.4 16.4
2007 15.4 0.0 11.6 15.4 15.4
2008 13.5 0.0 10.1 13.5 13.5
2009 12.9 0.0 11.5 12.9 12.9
2010 12.6 0.0 12.8 12.6 12.6
2011 14.2 0.0 13.6 14.2 14.2
2012 16.3 0.0 14.4 16.3 16.3
2013 17.8 0.0 16.7 17.8 17.8
2014 19.8 0.0 16.5 19.8 19.8
2015 19.7 0.0 17.0 19.7 19.7
2016 19.8 0.0 17.0 19.8 19.8
2017 18.2 0.0 14.3 18.2 18.2
2018 19.7 0.0 14.7 19.7 19.7
2019 19.9 0.0 15.2 19.9 19.9

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for LA County ERS, 2001-2019

Fiscal Year LA County ERS National Data
2001 100.0 98.7
2002 99.4 85.4
2003 87.2 83.7
2004 82.8 84.1
2005 85.8 83.5
2006 90.5 86.8
2007 93.8 89.5
2008 94.5 77.0
2009 88.9 73.3
2010 83.3 75.5
2011 80.6 73.4
2012 76.1 74.9
2013 75.0 75.4
2014 79.5 77.4
2015 83.3 79.1
2016 79.4 76.5
2017 79.9 77.6
2018 80.6 75.6
2019 77.2 75.8

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 LA County ERS, 2019

Category Percent
Equities 42.2
Fixed Income 27.7
Private Equity 9.6
Real Estate 10.8
Cash 0.9
Other 0.0
Commodities 4.4
Hedge Fund 4.4
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.2
Fixed Income 22.9
Private Equity 9.0
Real Estate 9.0
Cash 1.8
Other 0.0
Commodities 1.9
Hedge Fund 6.7
Misc. Alternatives 1.5

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for LA County ERS, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 49.0 27.0 5.0 13.0 6.0 0.0 0.0 0.0 0.0
2002 49.0 29.0 5.0 12.0 5.0 0.0 0.0 0.0 0.0
2003 50.0 27.0 5.0 13.0 5.0 0.0 0.0 0.0 0.0
2004 56.0 25.0 5.0 11.0 3.0 0.0 0.0 0.0 0.0
2005 54.0 29.0 6.0 11.0 0.0 0.0 0.0 0.0 0.0
2006 53.5 30.2 6.2 10.1 0.0 0.0 0.0 0.0 0.0
2007 53.0 29.0 7.0 10.0 0.0 0.0 1.0 0.0 0.0
2008 49.0 31.0 8.0 10.0 0.0 0.0 2.0 0.0 0.0
2009 48.0 32.0 9.0 10.0 0.0 0.0 1.0 0.0 0.0
2010 49.0 30.0 10.0 9.0 0.0 0.0 2.0 0.0 0.0
2011 51.0 28.0 10.0 8.0 0.0 0.0 3.0 0.0 0.0
2012 49.0 28.0 10.0 10.0 0.0 0.0 2.0 1.0 0.0
2013 50.0 27.0 9.0 10.0 0.0 0.0 3.0 1.0 0.0
2014 52.0 25.0 8.0 10.0 0.0 0.0 4.0 1.0 0.0
2015 51.2 25.5 8.8 11.2 0.0 0.0 2.1 1.2 0.0
2016 47.3 26.2 9.3 12.7 0.0 0.0 1.9 2.6 0.0
2017 48.5 25.7 9.3 11.8 0.0 0.0 2.0 2.7 0.0
2018 46.3 25.0 10.3 11.2 1.8 0.0 2.5 2.9 0.0
2019 42.2 27.7 9.6 10.8 0.9 0.0 4.4 4.4 0.0

Source: Public Plans Database


Annual Return as of June 30 for LA County ERS, 2001-2019

Fiscal Year LA County ERS Assumed return
2001 -5.20 8.00
2002 -5.60 8.00
2003 3.60 8.00
2004 16.50 7.75
2005 11.00 7.75
2006 13.00 7.75
2007 18.80 7.75
2008 -1.50 7.75
2009 -18.30 7.75
2010 11.60 7.75
2011 20.20 7.70
2012 0.10 7.60
2013 11.90 7.50
2014 16.50 7.63
2015 4.10 7.50
2016 0.80 7.25
2017 12.70 7.25
2018 9.00 7.25
2019 6.40 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
LA County ERS
2001-2019

Fiscal Year Cash Flow Assets
2001 -832.5 28,353.3
2002 -772.5 26,047.2
2003 -875.6 26,247.8
2004 -887.7 29,481.2
2005 -854.5 32,026.1
2006 -936.8 35,185.6
2007 -737.1 40,908.1
2008 -759.1 38,724.7
2009 -819.1 30,499.0
2010 -906.4 33,433.9
2011 -912.8 39,452.0
2012 -855.3 38,306.8
2013 -1,192.6 41,773.5
2014 -961.9 47,722.3
2015 -895.0 48,818.4
2016 -1,055.0 47,846.7
2017 -1,238.7 52,743.7
2018 -1,165.9 56,300.0
2019 -1,186.8 58,294.8

Source: Public Plans Database


Cash Flow as a Percentage of Assets
LA County ERS
2001-2019

Fiscal Year LA County ERS National Average
2001 -2.9 -0.8
2002 -3.0 -1.0
2003 -3.3 -0.9
2004 -3.0 -0.5
2005 -2.7 -0.5
2006 -2.7 -0.6
2007 -1.8 -0.6
2008 -2.0 -0.8
2009 -2.7 -1.4
2010 -2.7 -1.3
2011 -2.3 -1.6
2012 -2.2 -1.6
2013 -2.9 -2.0
2014 -2.0 -1.8
2015 -1.8 -0.5
2016 -2.2 -2.4
2017 -2.3 -2.3
2018 -2.1 -2.6
2019 -2.0 -2.6

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for LA County ERS benefit descriptions.