Election Updates:
Election Opportunity for Active WPERP Representative
The Office of the City Clerk – Election Division, on behalf of the City of Los Angeles Deferred Compensation Plan (the “DCP”), will be administering a special election for the Board of Deferred Compensation Administration (“Board”). This election will be for the following seat:
Active Water and Power Employees’ Retirement Plan (WPERP) Participant Representative – This seat can be held by a current participant in the DCP (meaning they have an account balance with the DCP), and who is also an active employee participant of the WPERP.
The term for this seat will begin upon the date of certification of the special election results by the City Clerk and will end on June 30, 2024.
Why Run for the Board?
The DCP is a tax-advantaged supplemental retirement savings program established in 1983 under Internal Revenue Code (IRC) Section 457 and City of Los Angeles Administrative Code Division 4, Chapter 14. Section 457 plans were created by the United States Congress specifically for state and local government entities. All DCP assets are held in trust for the exclusive benefit of participants and their beneficiaries. The DCP includes more than 50,000 participants with over $8.5 billion in assets.
The DCP is one of the most important benefits provided to City employees. It helps employees accumulate future retirement wealth and income security. The Board plays a vital role in shaping plan design, features, and services. The Board’s duties include administrative oversight, vendor selection, and investment review. While no compensation is provided, serving on the Board provides an opportunity to:
Experience a Citywide leadership position
Play a key role in driving the future of the DCP
Support the retirement security of your fellow employees
Impact DCP administration decisions, including plan design, features, and services
ELIGIBILITY
You are eligible to run as a candidate for the WPERP Representative Board seat if you:
Have an account balance with the DCP; and
Are an active employee participant of the WPERP
To qualify to be placed on the official ballot, you must:
Submit completed candidate materials by the deadline – Thursday, August 12, 2021 at 4:00 p.m.
Candidate materials will be made available Thursday, July 29, 2021. To obtain and return candidate materials, please contact Mindy Lam at the DCP at (213) 978‑1644 or via email at mindy.lam@lacity.org during the filing period from July 29, 2021 to August 12, 2021.
TIME COMMITMENT
Monthly Board meetings (approximately two hours in length, on the third Tuesdays of the month)
Two to four hours a month reviewing Board and Committee meeting materials
Periodic special Board and Committee meetings as needed
Special Election Calendar Highlights
July 29, 2021 – Candidate materials will be made available from the DCP staff by request either by email or in-person by appointment. To obtain candidate materials, please contact Mindy Lam at the DCP at (213) 978‑1644 or via email at mindy.lam@lacity.org.
August 12, 2021 – Deadline for submission of candidate materials. To return candidate materials, please contact Mindy Lam at the DCP at (213) 978‑1644 or via email at mindy.lam@lacity.org.
Early September – Ballots and voting instructions will be mailed to eligible participants.
September 16, 2021 - Election Day
Voting and Election Day
If eligible for voting before August 16, 2021, you will receive your election ballot and voting instructions in the mail beginning Wednesday, September 1, 2021.
Return completed ballots by Thursday, September 16, 2021 at 4:30 p.m. by mail or hand delivery to the contactless mail slot at the front door of:
Office of the City Clerk – Election Division
555 Ramirez Street, Space 300
Los Angeles, CA 90012
8:00 a.m. - 4:30 p.m.
To help slow the spread of Coronavirus (COVID-19), the Office of the City Clerk – Election Division is closed for in-person services. Members may set up an appointment with the Office of the City Clerk – Election Division by emailing Clerk.ElectionAdmin@lacity.org to obtain a replacement ballot for damaged, spoiled, or lost/non-received ballots, upon filing an Affidavit of Loss/Non-Receipt by September 16, 2021 at 4:30 p.m.
New participants who become eligible after August 16, 2021 and before Election Day who wish to vote must obtain a certificate verifying their eligibility to vote by contacting Mindy Lam at the DCP at (213) 978-1644 or via email at mindy.lam@lacity.org. Members may present the certificate to the Office of the City Clerk – Election Division to receive a ballot by emailing Clerk.ElectionAdmin@lacity.org to make an appointment.
About the Board of Deferred Compensation Administration
The Board is responsible for oversight of the City’s DCP. These responsibilities include plan design, vendor selection, investment review, and all related matters affecting the administration of the DCP.
Board members attend regular monthly meetings, approximately two hours in length, which are generally held on the third Tuesday of each month. They can also expect to spend approximately 2‑4 hours each month reviewing materials for these meetings. In addition, the Board may periodically conduct special meetings. There is no compensation provided for serving on the Board.
The nine-member Board is comprised of:
the General Managers of Los Angeles Fire and Police Pensions (LAFPP), Los Angeles City Employees’ Retirement System (LACERS), and the Personnel Department;
Water & Power Employees’ Retirement Plan (WPERP) Manager;
a labor representative appointed by the City’s unions; and
an elected representative from each of the DCP’s membership groups: active LAFPP members, active LACERS members, active WPERP members, and retirees/separated members.
If you have any questions about the election process, please contact Mindy Lam at the DCP at (213) 978-1644 or via email at mindy.lam@lacity.org.
FUTURE ELECTIONS
2023 - Active LACERS Participant Representative and Active LAFPP Participant Representative
2024 - Active WPERP Participant Representative and Retired and Separated Participant Representative