The Los Angeles City Employees’ Retirement System (“LACERS”) is a department of the City of Los Angeles, established by City Charter in 1937, to provide retirement benefits to the civilian employees of the City of Los Angeles, representing three-fifths of the City’s workforce. Currently LACERS provides services to 24,000 active employees, and provides benefits to nearly 17,500 retirees and their beneficiaries. LACERS administers the benefits approved by the City which includes pension benefits, administration of retiree health care premiums, and management of the pension fund portfolio to offset payment of these obligations. Service to our Members is first and foremost, not only because we are bound by our fiduciary duty, but also because every Board member and staff at LACERS is committed to our mission of delivering best experience for our Members.