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In addition, feedback from LACERA members, and from a training needs audit report indicated that member service required improvement in the areas of accuracy, consistency, and follow-through.
During the meeting, SEIU LACERA members presented a report that outlines specific losses and possible corrections to help protect investors.
This decision was based on the belief that LACERA needed to realize additional value from the acquisition of an expensive yet underutilized piece of software.
County Assistant Chief Administration Officer Sharon Harper said she doesn't believe the pay increases at LACERA will pressure the county to increase salaries for other employees.
The Employees' request was met with resistance from LACERA and Marriott International, the hotel's management company.
Les Robbins, chairman of the LACERA Board of Retirement, said the initiative is like ``throwing gasoline on a fire.
TriPacific recently entered into a new agreement with LACERA to manage a $300 million fund that will provide financing for a broad variety of residential investment opportunities throughout the United States, including traditional single-family home construction, as well as rental property and student housing development, model home construction, and unentitled property.
LACERA Chief Counsel David Muir said the LACERA Board of Retirement could decide to ask retirees who received the additional compensation to make contributions of that compensation to pay a portion of the $190 million price tag.
On Sunday, the Daily News reported that LACERA pension board members and executives traveled the world and were reimbursed for staying at luxury hotels costing up to $553 a night even as the pension fund lost $5.
We are pleased to be part of a team that can put together targeted real estate deals in urban and infill areas of Los Angeles, meeting our investment objectives while demonstrating the careful due diligence, asset management and financial reporting we need to serve our members," said Lisa Mazzocco, Chief Investment Officer, LACERA.
LACERA paid the bond, stock and real estate investment management firms that sponsor some of the trips' $93 million in fees and other expenses in 2002.