California Public Employees Retirement System (CalPERS) vs Los Angeles City Employees Retirement System (LACERS)
Side-by-side pension health comparison from DOL and public plan data
California Public Employees Retirement System (CalPERS) (C) and Los Angeles City Employees Retirement System (LACERS) (B) are close on the LakeQuality rubric. Funding ratios sit at 67% and 76% respectively — within a few points of each other.
With grades this close, the comparison turns on plan-specific factors: status (active vs frozen), participant maturity, sponsor financial health, and multi-year trajectory rather than the headline composite.
Verdict
Los Angeles City Employees Retirement System (LACERS) has a stronger Pension Health Score of 70/100 (B) compared to California Public Employees Retirement System (CalPERS) at 58/100 (C). Funding ratios differ by 8.5 percentage points (75.8% vs 67.3%). Los Angeles City Employees Retirement System (LACERS) covers 49,000 participants.
| Metric | California Public Employees Retirement System (CalPERS) | Los Angeles City Employees Retirement System (LACERS) |
|---|---|---|
| Health Score Composite of funding ratio, trend, and PBGC risk | 58/100 (C) | 70/100 (B)* |
| Funding Ratio Assets as % of liabilities (100%+ is fully funded) | 67.3% | 75.8%* |
| Total Assets | $473.0B | $20.1B |
| Total Liabilities | $703.0B | $26.5B* |
| Unfunded Liability | $230.0B | $6.4B* |
| Participants | 2,050,000 | 49,000 |
| 1-Year Investment Return | 5.8% | 5.9%* |
| Plan Type | public | public |
| PBGC Risk Level | moderate | moderate |
| Sponsor | State of California | City of Los Angeles |
Los Angeles City Employees Retirement System (LACERS) has a stronger Pension Health Score of 70/100 (B) compared to California Public Employees Retirement System (CalPERS) at 58/100 (C). Funding ratios differ by 8.5 percentage points (75.8% vs 67.3%). Los Angeles City Employees Retirement System (LACERS) covers 49,000 participants.
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