Los Angeles County Employees Retirement Association (LACERA) Honored with Financial Reporting Award for 25th consecutive year

LOS ANGELES, Aug. 28, 2023 (GLOBE NEWSWIRE) -- The Los Angeles County Employees Retirement Association (LACERA) is thrilled to announce that it has been awarded the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association of the United States and Canada (GFOA). This is the 25th consecutive year this accolade has been bestowed upon LACERA in recognition of its exceptional annual comprehensive financial report for the fiscal year ending June 30, 2022.

“The Certificate of Achievement for Excellence in Financial Reporting is a testament to LACERA’s unwavering commitment to transparency, accountability, and outstanding financial stewardship. A distinguished panel of impartial experts rigorously assessed LACERA’s report and affirmed that it exceeded the rigorous criteria set forth by the GFOA program. The report successfully embodies the principles of a “spirit of full disclosure,” effectively communicating LACERA’s financial narrative and motivating diverse potential users and user groups to engage with its contents,” said Santos Kreimann, LACERA’s CEO.

LACERA is appreciative of this distinction, as the Certificate of Achievement stands as the highest honor attainable in the field of governmental accounting and financial reporting. This recognition underscores the tremendous dedication and diligence exhibited by LACERA’s Financial and Accounting Services, Investments, and Communications Divisions.

The Government Finance Officers Association (GFOA) is a prestigious institution dedicated to advancing excellence in government finance. With a membership base exceeding 21,000 professionals, GFOA is pivotal in fostering best practices, offering professional development opportunities, providing invaluable resources, and conducting practical research for its members and the communities they faithfully serve.

LACERA is profoundly honored to receive the Certificate of Achievement for Excellence in Financial Reporting, a distinction that underscores its commitment to upholding the highest standards of financial integrity and transparency. This recognition serves as a testament to LACERA’s ongoing dedication to effectively managing and safeguarding the financial future of its stakeholders.

LACERA is a public retirement plan created and operating under the County Employees Retirement Law of 1937 (CERL) and is subject to the California Constitution, CERL, and the Public Employees’ Pensions Reform Act of 2013 (PEPRA). Two boards govern LACERA. Both boards are composed of elected and appointed members and one ex-officio member. The Board of Retirement is responsible for the overall management of the retirement system and the LACERA-administered Retiree Healthcare Benefits Program. The Board of Investments is responsible for establishing LACERA’s investment policies, strategies, and objectives, as well as exercising authority and control over the fund’s investment management and actuarial matters relating to setting contributions and estimating fund liabilities.

Media Contact:  Eric W. Rose, eric@ekapr.com or 213-741-1500 ext. 525