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, 2001-2023

Fiscal Year Net Assets (billions)
2001 28.35
2002 26.05
2003 26.25
2004 29.48
2005 32.03
2006 35.19
2007 40.91
2008 38.72
2009 30.50
2010 33.43
2011 39.45
2012 38.31
2013 41.77
2014 47.72
2015 48.82
2016 47.85
2017 52.74
2018 56.30
2019 58.29
2020 58.51
2021 73.01
2022 70.29
2023 73.85

Source: Public Plans Database

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Number of Actives per Annuitant, 2001-2023

Fiscal Year LA County ERS US State and Local Pensions
2001 1.9 2.4
2002 1.9 2.3
2003 1.9 2.2
2004 1.8 2.1
2005 1.7 2.1
2006 1.7 2.0
2007 1.8 2.0
2008 1.8 1.9
2009 1.8 1.9
2010 1.7 1.8
2011 1.7 1.7
2012 1.6 1.6
2013 1.6 1.5
2014 1.6 1.4
2015 1.5 1.4
2016 1.5 1.4
2017 1.5 1.4
2018 1.5 1.3
2019 1.5 1.3
2020 1.5 1.3
2021 1.4 1.2
2022 1.3 1.2
2023 1.3 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 LA County 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 8.9 0.0 8.7 8.9
2002 8.7 0.0 8.7 8.7
2003 10.5 0.0 10.5 10.5
2004 10.6 0.0 11.8 10.6
2005 15.1 0.0 13.7 15.1
2006 16.4 0.0 14.3 16.4
2007 15.4 0.0 13.9 15.4
2008 13.5 0.0 12.8 13.5
2009 12.9 0.0 14.4 12.9
2010 12.6 0.0 15.5 12.6
2011 14.2 0.0 16.4 14.2
2012 16.3 0.0 18.1 16.3
2013 17.8 0.0 20.3 17.8
2014 19.8 0.0 20.6 19.8
2015 19.7 0.0 20.6 19.7
2016 19.8 0.0 21.5 19.8
2017 18.2 0.0 21.4 18.2
2018 19.7 0.0 22.5 19.7
2019 19.9 0.0 22.6 19.9
2020 20.6 0.0 23.4 20.6
2021 22.2 0.0 23.6 22.2
2022 24.2 0.0 24.1 24.2
2023 24.5 0.0 23.6 24.4

Source: Public Plans Database

National data averages are weighted by plan size.

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Actuarial Funding

Actuarial Funded Ratio for LA County ERS, 2001-2023

Fiscal Year LA County ERS National Data
2001 100.0 101.7
2002 99.4 94.6
2003 87.2 88.8
2004 82.8 87.0
2005 85.8 85.4
2006 90.5 85.2
2007 93.8 86.3
2008 94.5 84.4
2009 88.9 78.4
2010 83.3 75.7
2011 80.6 74.3
2012 76.1 72.3
2013 75.0 71.8
2014 79.5 73.2
2015 83.3 73.2
2016 79.4 71.6
2017 79.9 72.0
2018 80.6 72.4
2019 77.2 72.5
2020 76.4 72.6
2021 79.3 75.8
2022 79.6 76.2
2023 79.9 74.2

Source: Public Plans Database

National data averages are weighted by plan size.

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Investments

Asset Allocation for LA County ERS, 2023

Category Percent
Equities 33.4
Fixed Income 13.5
Private Equity 18.3
Real Estate 7.0
Cash 1.5
Other 0.5
Commodities 8.3
Hedge Fund 17.5
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 LA County ERS, 2001-2023

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 49.0 33.0 5.0 13.0 0.0 0.0 0.0 0.0 0.0
2002 49.0 34.0 5.0 12.0 0.0 0.0 0.0 0.0 0.0
2003 50.0 32.0 5.0 13.0 0.0 0.0 0.0 0.0 0.0
2004 56.0 28.0 5.0 11.0 0.0 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
2020 35.7 30.0 10.9 9.3 1.6 1.0 6.4 5.1 0.0
2021 37.0 26.6 13.8 7.1 2.0 0.0 7.3 6.2 0.0
2022 30.3 15.1 18.3 7.7 1.5 1.1 8.9 17.1 0.0
2023 33.4 13.5 18.3 7.0 1.5 0.5 8.3 17.5 0.0

Source: Public Plans Database

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Annual Return as of June 30 for LA County ERS, 2001-2023

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
2020 1.80 7.00
2021 25.20 7.00
2022 0.10 7.00
2023 6.40 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)
LA County ERS
2001-2023

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
2020 -1,232.7 58,510.4
2021 -1,131.2 73,012.0
2022 -1,186.4 70,289.6
2023 -1,299.0 73,851.9

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
LA County ERS
2001-2023

Fiscal Year LA County ERS National Average
2001 -2.9 -2.0
2002 -3.0 -2.4
2003 -3.3 -2.5
2004 -3.0 -1.8
2005 -2.7 -2.2
2006 -2.7 -2.2
2007 -1.8 -2.0
2008 -2.0 -2.1
2009 -2.7 -3.1
2010 -2.7 -3.2
2011 -2.3 -3.0
2012 -2.2 -3.2
2013 -2.9 -3.1
2014 -2.0 -2.9
2015 -1.8 -2.7
2016 -2.2 -2.9
2017 -2.3 -2.8
2018 -2.1 -2.4
2019 -2.0 -2.4
2020 -2.1 -2.3
2021 -1.5 -2.0
2022 -1.7 -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 LA County ERS benefit descriptions.