California Public Employees Retirement System (CalPERS) vs Los Angeles County Employees Retirement Association (LACERA)
Side-by-side pension health comparison from DOL and public plan data
California Public Employees Retirement System (CalPERS) (C) and Los Angeles County Employees Retirement Association (LACERA) (B) are close on the LakeQuality rubric. Funding ratios sit at 67% and 75% 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 County Employees Retirement Association (LACERA) 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 7.9 percentage points (75.2% vs 67.3%). Los Angeles County Employees Retirement Association (LACERA) covers 186,000 participants.
| Metric | California Public Employees Retirement System (CalPERS) | Los Angeles County Employees Retirement Association (LACERA) |
|---|---|---|
| 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% | 75.2%* |
| Total Assets | $473.0B | $73.5B |
| Total Liabilities | $703.0B | $97.7B* |
| Unfunded Liability | $230.0B | $24.2B* |
| Participants | 2,050,000 | 186,000 |
| 1-Year Investment Return | 5.8% | 6.1%* |
| Plan Type | public | public |
| PBGC Risk Level | moderate | moderate |
| Sponsor | State of California | Los Angeles County |
Los Angeles County Employees Retirement Association (LACERA) 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 7.9 percentage points (75.2% vs 67.3%). Los Angeles County Employees Retirement Association (LACERA) covers 186,000 participants.
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