The Board of Investments (BOI) is responsible for establishing LACERA’s investment policy and objectives, as well as exercising authority and control over the investment management of the pension and benefits trusts.
The BOI is composed of ten trustees: four elected by members, five appointed by the Los Angeles County Board of Supervisors, and one ex-officio by law. Of the elected trustees, two are elected by active general members, one is elected by retired members, and one is elected by safety members. Elected and appointed trustees serve three-year terms, and the law requires the County Treasurer and Tax Collector to serve as the ex-officio trustee. The Deputy County Treasurer and Tax Collector serves as the acting ex-officio member, sitting in for the ex-officio trustee as needed.
Trustees sit on four BOI Committees (Corporate Governance, Equity Public/Private, Credit and Risk Mitigation, and Real Assets) and two joint committees (Audit and Joint Organizational Governance). The BOI Committees review corporate governance and fiduciary oversight information prior to reporting to the full board(s).
The election of officers and other matter relating to the administrative procedures of the BOI are provided in the BOI Bylaws, BOI Charter, and other adopted LACERA policies.
BOI: Board of Supervisors Nomination Rotation Schedule
The Los Angeles County Board of Supervisors appoints four members of each LACERA Board. Individual appointments are made by the Supervisors on a rotating schedule. The schedule below shows the name and term of each LACERA Board member appointed by the Board of Supervisors.