Unfunded Liability
$18.14B
actuarial shortfall
FY2023 data · Public Plans Database
Los Angeles Fire and Police
Los Angeles Fire and Police's complete funding picture: assets, unfunded liability, member counts, and investment returns over a 23-year span, as reported to the Public Plans Database (Boston College CRR) and cross-referenced with actuarial valuations.
By PlainPension · · California · Police & Fire Plan · Data through FY2023
- Funded ratio
- 59.3%
- Health grade
- CReported funded ratio below full funding
- Market assets
- $26.44B
- Members
- 27,478
According to the Public Plans Database, compiled by the Boston College Center for Retirement Research, Los Angeles Fire and Police is one of 197 public pension plans tracked nationwide. The plan card reports FY2023 valuation figures; the multi-year table includes FY2024 where PPD published it; this site’s database copy was last loaded in July 2026. See our methodology for the full source and update cadence.
Total Members
27,478
active + retired + vested
1-Year Return
7.6%
net investment return
-0.2pp vs 5-yr avg
5-Year Avg Return
7.8%
annualized, net of fees
How Los Angeles Fire and Police Funded Ratio Compares
Plan Funded Ratio 59.3%
National avg
A ratio of 59.3% compared against the national public-pension average of 75.5%.
Healthy Threshold
Plans above 80% are generally considered adequately funded by NASRA standards.
Participant Composition
The active-to-retiree ratio is a leading indicator of long-term plan sustainability, plans with more retirees than active contributors face mounting cash-flow pressure as benefit payments outpace incoming contributions.
Investment Policy Mix
Public pension plans report their asset allocation in their annual CAFR and actuarial valuation. Equity-heavy mixes capture market upside but introduce volatility; fixed-income tilts protect funded status during downturns at the cost of long-run return.
Historical Funded Ratio
| Year | Funded Ratio |
|---|---|
| 2024 | 61.2% |
| 2023 | 59.3% |
| 2022 | 57.3% |
| 2021 | 52.9% |
| 2020 | 51.3% |
| 2019 | 55.7% |
| 2018 | 55.2% |
| 2017 | 54.2% |
| 2016 | 58.3% |
| 2015 | 58.6% |
| 2014 | 59.9% |
| 2013 | 60.5% |
| 2012 | 61.6% |
| 2011 | 63.8% |
| 2010 | 66.5% |
| 2009 | 65.4% |
| 2008 | 80.9% |
| 2007 | 84.9% |
| 2006 | 84.6% |
| 2005 | 90.7% |
What the Data Says About Los Angeles Fire and Police
Los Angeles Fire and Police reports a funded ratio of 59.3% as of fiscal year 2023, earning a financial health grade of C in the Public Plans Database. The plan holds $26.44B in market assets against an unfunded liability of $18.14B. As a Police & Fire plan operating under California sponsorship, it covers 27,478 members (12,571 active contributors, 14,131 retirees drawing benefits).
Los Angeles Fire and Police's funded ratio lands close to the middle of the national distribution, 16 points below the 75.5% national average across tracked plans. A 5-year average investment return of 7.8% factors into the plan's overall trajectory.
For California taxpayers and plan members, the $18.14B unfunded gap is the actuarial shortfall this plan must close over time.
Where this data comes from + how funding gaps get resolved
These figures come from the Public Plans Database, a collaboration between the Boston College Center for Retirement Research and NASRA that compiles them from each plan's Comprehensive Annual Financial Reports (CAFRs) and actuarial valuations. The relationship between contribution adequacy and investment performance determines whether an unfunded liability narrows or expands year over year, and the gap itself is typically closed through some combination of higher contributions, investment returns, or benefit modifications. See our methodology for how public-pension funding differs from ERISA-backed private plans, and our disclaimer below before acting on this data.
Membership
12,571
Active Members
14,131
Retirees
27,478
Total Members
Plan Details
- Plan Type
- Police & Fire
- State
- California
- Market Assets
- $26.44B
Source: Public Plans Database (PPD)
Boston College CRR / NASRA
Boston College CRR / NASRA
Plans With a Similar Funded Ratio
The closest plans nationwide to Los Angeles Fire and Police's 59.3% funded ratio.
Other California Plans
- Sacramento County ERS 101.7%
- San Diego County Employees Retirement Association 94.3%
- Kern County Employees Retirement Association 93.5%
- San Francisco City and County Retirement System 82.9%
- Alameda County Employee's Retirement Association 81.8%
Frequently Asked Questions
Is Los Angeles Fire and Police fully funded?
Los Angeles Fire and Police has a funded ratio of 59.3% as of FY2023, earning a health grade of C. At 100%, reported actuarial assets equal reported accrued liabilities. Plans use different assumptions and valuation methods, so ratios should be read alongside the underlying actuarial valuation.
What happens if Los Angeles Fire and Police runs out of money?
This profile is not a legal or retirement-benefit assessment. For a decision affecting Los Angeles Fire and Police, consult the plan administrator, governing documents, and a qualified professional.
What does a funded ratio of 59.3% mean?
A funded ratio of 59.3% means that Los Angeles Fire and Police currently has assets equal to 59.3% of its projected benefit obligations. The unfunded liability, the gap between assets and liabilities, stands at $18.14B. This level of underfunding typically requires corrective action such as increased contributions or benefit restructuring.
How does Los Angeles Fire and Police compare to other public pensions?
Los Angeles Fire and Police is a Police & Fire plan in California serving 27,478 members. Nationally, the average funded ratio for public pension plans tracked by the Public Plans Database is approximately 75.5%. Los Angeles Fire and Police's funded ratio of 59.3% places it below the national average, indicating elevated fiscal pressure.
How many members does Los Angeles Fire and Police have?
Los Angeles Fire and Police covers 27,478 total members, including 12,571 active employees and 14,131 retirees currently receiving benefits. The ratio of active members to retirees is a key indicator of plan sustainability, when the number of retirees grows relative to active contributors, funding pressure increases.
Related
Data sourced from official Public Plans Database and actuarial valuations from federal and state pension systems. See our methodology for details. Retrieved and formatted by PlainPension
Disclaimer: This information is provided for informational purposes only and does not constitute professional advice. Data is sourced from the Public Plans Database (PPD). Consult a qualified professional before making decisions based on this data.
Read our methodology - how this data is sourced, computed, and verified.
Data sources used on this page
- Public Plans Database (PPD) - funded ratios, assets, liabilities, and member counts for US state and local public pension plans, maintained by the Boston College Center for Retirement Research with MissionSquare Research Institute and NASRA. publicplansdata.org
- NASRA - National Association of State Retirement Administrators public-pension actuarial and policy references. nasra.org
Every figure on PlainPension is rendered directly from the Public Plans Database (Boston College Center for Retirement Research), no number is typed in by an editor. This page aggregates this plan's funded ratio, unfunded liability, and multi-year financial history, live from the dataset. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.