There is a lot that goes into managing a pension plan. Probably a lot more than you have time to read about right now. But the good news is, you don’t have to worry about all those details. Your Plan is in Good Hands.
LAPP has many dedicated professionals, acting with your best interests in mind, who are attending to what matters every day. If you want to learn about how the Plan is managed and who these professionals are, you have come to the right place. All the information you need is in this section and we are happy to share it with you.
LAPP is responsible for ensuring the pension needs of nearly 250,000 members, some working and some retired. We are accountable for the proper management and growth of a $40‑billion pension fund and we are committed to providing a secure retirement income for LAPP members at a reasonable cost. This is a big commitment and one we will continue to approach with pride and enthusiasm for many decades to come.
We have a very complicated governance structure for LAPP. Our organizational chart looks more like a Picasso than an org. chart so it might be simpler to break the governance model down into smaller, bite-sized pieces and explain how they work together.
Basically there are governance functions, operational functions and oversight functions. The governance functions include those who make decisions about various aspects of the Plan and the operational functions include those who carry out the decisions. The oversight function occurs at many levels throughout the governance structure, but the most significant one is at the very top, overlooking everything we do.