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Each December, we publish our Annual Comprehensive Financial Report (ACFR) and Popular Annual Financial Report (PAFR). These award-winning annual reports are prepared in accordance with the Governmental Accounting Standards Board reporting guidelines and Generally Accepted Accounting Principles, and are reviewed annually by our independent auditor.

See our Financial Reporting section under Public Records for actuarial reports, experience studies, and GASB disclosure reports. For our current investment activities, performance, and other reports, see the Fund Reports page.

Annual Comprehensive Financial Report

The ACFR is an in-depth review of the previous fiscal year, reporting on the health of the fund, investment returns, and statistical information about the membership through detailed reports, graphs, and figures.

Cover of 2024 Annual Report - a collage of people running, at the top of a mountain, hands together and people climbing a mountain with text "Pulling Together."
Our 2024 Annual Comprehensive Financial Report is available for download. The theme is inspired by athletic team excellence and celebrates how LACERA fulfills our mission and commitment to our members by pulling together to expertly execute our game plan.

Archived annual reports are available in the Public Records Section under Financial Reporting.

Each ACFR has the following five sections:

  • Introductory Section: Significant events, awards, and accomplishments of the previous fiscal year; Board trustees, administrative management, and professional consultants
  • Financial Section: Analysis and statements of LACERA’s financial condition
  • Investment Section: Investment performance for the Pension Plan and OPEB Trusts
  • Actuarial Section: Funding status and actuarial-related metrics and assumptions
  • Statistical Section: Membership statistics and information about our operations

Popular Annual Financial Report

The Popular Annual Financial Report (PAFR) summarizes our Annual Comprehensive Financial Report (ACFR) and is mailed to all members each December. The PAFR shares information about our achievements, primary sources and uses of assets, funded status, and portfolio growth.

Latest Awards

Certificate of Achievement in Financial Reporting from the Government Finance Officers Association:
2023 Annual Comprehensive Financial Report, 34th consecutive year

Outstanding Achievement in Popular Annual Financial Reporting from the Government Finance Officers Association:
2023 Popular Annual Financial Report, 26th consecutive year

2024 Public Pension Standards Award from the Public Pension Coordinating Council:
22nd consecutive year

Los Angeles County Employees Retirement Association

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Pasadena, CA 91109-7060

Phone 626-564-6000

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