Page 206 - FY 2022-23 Supporting Information

2022-23 PROPOSED BUDGET
ADD/DELETE RATES

SWORN - CURRENT POSITIONS - PREPAY (On July 15)
Pensions 41.84% combined rate
Health and Welfare Program Police $17,399 per position
Fire $19,251 per position

SWORN - NEW POSITIONS - PREPAY (On July 15)
GCP-Pensions Savings Plan (3%) & Medicare (1.5%) 1 4.5%
Health and Welfare Program Police $17,399 per position
Fire $19,251 per position

CIVILIAN - PREPAY (On July 15)
2
LACERS (33.31%) & GCP - Medicare (1.5%) 34.81% combined rate
Civilian FLEX Program $14,245 per position
Example:
One position (Civilian) @ $60,000 (salary cost) X 34.81% + $14,245 = $35,131

1. Fire and police recruits become members of the Fire and Police Pensions System upon completion of their
academy training. During training, they participate in the Pensions Savings Plan (PSP). Funds in the PSP
can be transferred to the City's Deferred Compensation Plan upon completion of the academy training. The
City contributes 3 percent of payroll to the PSP and the employee contributes 4.5 percent of payroll.

2. For 2022-23 the Tier 1 rate for LACERS is 33.93 percent. The rate applies to LACERS-eligible City
employees hired prior to February 21, 2016. LACERS-eligible City employees hired by the City after February
21, 2016 will be subject to the Tier 3 rate of 31.35 percent. The rate noted above reflects the combined rate
for the two tiers and includes the enhanced benefit for Airport Peace Officers effective January 7, 2018.

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