Fighting for your pensions
Defined benefit plans for LAPD officers have been around since June 7, 1899, and have proven to work. The Los Angeles Fire and Police Pension system, since the economic downturn, is currently 96.2% funded. Members contribute up to 9% of their bi-weekly pay, which adds up to $120,287,911 for the 2010-2011 fiscal year. Even with this sizable amount, the majority of the money needed to fund the pension systems comes from investments not contributions by the City or police officers.
Defined benefit plans for LAPD officers have been around since June 7, 1899, and have proven to work. The Los Angeles Fire and Police Pension system, since the economic downturn, is currently 96.2% funded. Members contribute up to 9% of their bi-weekly pay, which adds up to $120,287,911 for the 2010-2011 fiscal year. Even with this sizable amount, the majority of the money needed to fund the pension systems comes from investments not contributions by the City or police officers.