Los Angeles County Employees' Retirement Association voted to increase...

Los Angeles County Employees’ Retirement Association voted to increase the domestic equity passive allocation to 50% to 70% from 40% to 60%. The governing board for the $24.76 billion fund made this change to ensure the composite’s passive allocation remains within board-approved ranges while allowing for market appreciation. The board also approved a 9.6% increase, to $411,000 a year from $375,000 in the retainer for Frank Russell, LACERA’s general consultant, providing consulting and analytical services. The board also voted to take no action regarding Bankers Trust’s loss of its equity index team.