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Pension Funds

Los Angeles City Employees extends contract of external auditor

Los Angeles City Employees' Retirement System extended Brown Armstrong Accountancy's contract for external audit services for two years, with an RFP to be launched in the fall of 2019, according to recently released board minutes for the $17.7 billion pension plan.

Brown Armstrong's contract will now end on June 30, 2020, minutes of the June 26 meeting stated. Brown Armstrong's contract had already been extended in May 2016 until June 2018, following an unsuccessful RFP process. Staff recommended the new extension to give them time to become proficient in a new pension administration system.