Investment Strategy

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  1. About LACERA

    About LACERA

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    Our mission is to produce, protect, and provide the promised benefits to our members.
    1. Who We Are

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    2. Leadership

      1. Board of Retirement
      2. Board of Investments
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    3. Accountability

      1. Retirement Law
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      3. Investments
      4. Annual Reports
      5. Public Records
  2. Active Members

    Active Members

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    Our defined benefit plans were created to provide you with financial security.
      1. General Plans

      2. Plans A/B/C
      3. Plan D
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      5. Plan G
      6. Safety Plans

      7. Plans A/B
      8. Plan C
    1. Active Service

      1. Contributions
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      3. Compensation
      4. Reciprocity
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    2. Retirement Planning

      1. Benefit Estimates
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      3. Ready to Retire
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      6. Beneficiaries
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  3. Retirees and Families

    Retirees and Families

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    Your monthly allowance is guaranteed, and benefits extend to families and survivors.
    1. Retirement Payments

      1. Cost of Living
      2. Direct Deposit
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      1. Benefits Process
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      3. Survivor Benefits
      4. Survivor Healthcare
      5. Taxability of Benefits
  4. Retiree Healthcare

    Retiree Healthcare

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    1. Program Basics

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    2. Healthcare Plans

      1. Anthem Blue Cross of CA
      2. CIGNA
      3. Kaiser Permanente
      4. SCAN
      5. United Healthcare
      6. Dental/Vision Plans

Accountability

  1. Retirement Law
  2. Governing Documents
  3. Investments
    1. Roles and Responsibilities
    2. Investment Strategy
      1. Growth
      2. Credit
      3. Real Assets and Inflation
      4. Risk Reducing and Mitigation
    3. Fund Reports
    4. Corporate Governance
    5. Disclosures
  4. Annual Reports
  5. Public Records
Begin content

LACERA follows a carefully planned and executed strategic investment program to produce, protect, and provide the promised benefits for LACERA’s members and beneficiaries by:

  • Achieving the fund’s assumed rate of return over the long term
  • Mitigating investment risks through fund diversification
  • Ensuring adequate liquidity of the fund

Investment Beliefs

Our strategic asset allocation reflects our investment beliefs and underlying assumptions about how capital markets operate, including: 

  • Long-term strategic asset allocation will be the primary determinant of LACERA’s risk/return outcomes.
  • Although cyclical, markets are largely efficient over the long term.
  • Passive management is the preferred structure for investment management, with flexibility for active strategies to add value.
  • Private market assets can add value, at prudent levels.
  • A global perspective is necessary to diversity risk, and a prudent amount of risk is acceptable to achieve long-term target returns.

Asset Allocation

We categorize capital outlays into four categories, defined by the function each serves in the portfolio: 

  • Growth 
  • Credit
  • Real Assets and Inflation Hedges
  • Risk Reduction and Mitigation

These categories are designed to diversify the fund and optimize upside growth, while mitigating downside risk. The asset allocation determines what proportion of the fund is allocated to each functional category and underlying asset class, including target weights and allowable ranges as a percentage of the fund. 

In order to determine its strategic asset allocation, LACERA conducts a comprehensive asset allocation study every three to five years, or at the Board’s request.

Read more about the role in the portfolio, asset classes, investment approach, and risk factors for Growth, Credit, Real Assets and Inflation Hedges, and Risk Reduction and Mitigation.

Los Angeles County Employees Retirement Association

Appointment Reservations
LACERA
Los Angeles County Employees Retirement Association

Member Service Center

M – F, 7 a.m. – 5 p.m. PT

Holiday Schedule

300 N. Lake Ave.
Pasadena, CA 91101

Contact Us

Member Services Call Center

M – F, 7 a.m. – 5:30 p.m. PT

800-786-6464

Retiree Healthcare

800-786-6464

Business

M – F, 8 a.m. – 5 p.m. PT

PO Box 7060
Pasadena, CA 91109-7060

Phone 626-564-6000

Fax 626-564-6155

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