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.
Our 2023 Annual Comprehensive Financial Report is available for download. The theme highlights how as times, trends, and technologies change, LACERA has continuously evolved to ensure that our member benefits are “Designed to Last.”
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.