LAPP’s assets are invested by AIMCo, based on direction set by the LAPP Board of Trustees prior to governance changes that took effect March 1, 2019. It was the Board of Trustees that was responsible for setting the funding strategy for the Plan. You can read some of these investment strategies below.
Prior to governance changes that took effect March 1, 2019, it was the Board of Directors that reviewed the financial position of LAPP every year by conducting an actuarial valuation on the Plan. The actuarial valuation shows whether contribution rates need to be higher or lower to ensure the long-term funding of the Plan. An actuary prepares an actuarial valuation for LAPP every year. Under the new joint sponsorship, both Boards will be involved in aspects of performing an actuarial valuation and setting contribution rates for the Plan.