TRENDS & INSIGHTS - Los Angeles · CITY OF LOS ANGELES DEFERRED COMPENSATION PLAN. As of March 31,...

1

First Quarter 2018

A Plan Review for:City of Los Angeles

PLAN | INVEST | PROTECT

Table of contents

2

1. Trends & Insights

2. Client Health Review

3. Participant Contributions Analysis

4. Participant Distributions Analysis

5. Asset Analysis

6. Participant Services

7. Local Service Center

TRENDS & INSIGHTS

3

Do not put

content

on the brand

signature area

Financial Wellness: Guided Education Experience Overview

CN0226-40419-0320

Products and services offered through the Voya ® family of companies.

Why financial wellness matters

Financial stress is real

53% American workers report having financial stress

Financial stress impacts retirement savings

51% have saved less than $50,000 for retirement

Financial stress impacts retirement age

54% plan to postpone retirement

Financial stress impacts productivity

50% report personal finances distracted theman average of 3 or more hours a week while working

PWC Employee Financial Wellness Survey, 2017

5

6

What is financial wellness?

Financial Wellness is about the healthy balance

between living for today while preparing

financially for tomorrow

It’s not necessarily about being wealthy, but it is a

state of mental well-being in which one feels

they have control over their current finances and

have confidence in their financial decisions

Living

within your

means

Confident

in your future

HOW DOES IT FEEL?

Prepared

to handle the

unexpected

Free to

indulge a little

and embrace

life

4

Having adequate insurance

Managing cash flow

Having money to cover

unexpected expenses

Preparing for retirement

Managing debt

Saving for other goals

Six financial wellness pillars

1. Bankrate survey, 2017. 2. Voya Retirement Metrics, Q2 2017. 3. AON Hewitt 2016 Financial Mindset® Study.

Protection

Spending &

Saving

Emergency

Fund

Retirement

Debt

Not having coverage if you become ill or have an

accident is a leading cause of bankruptcy

Spending less than you make is core to

financial health

57% of Americans don’t have enough cash to

cover a $500 unexpected expense1

On average participants are on track to replace

59% of their income in retirement2

35% say debt is ruining quality of their lives3

Top savings priorities3 • Emergency fund (88%)

• Retirement (85%)

• Wealth accumulation (66%)

• Vacation / travel (55%)

• Making large purchase such as a car (45%)

• Education (44%)

• Home purchase (40%)

What Why

Other Goals

Client Health Review

8

Plan Highlights As of March 31, 2018

CITY OF LOS ANGELES DEFERRED COMPENSATION PLAN

Plan assets (millions) 03/31/2018 $6,215

Number of participants with a balance 45,537

Average participant account balance $136,487

Average outstanding loan balance per borrower $14,628

Catch-up contribution participation 9.8%

Participation rate – Pre-Tax 59.1%

Participation rate – Roth 14.9%

Total Participant Rate

Average deferral rate – Pre-Tax 7.66% $303.90

Average deferral rate – Roth 5.89% $161.89

71%

9

Cash Flow SummaryJanuary 1, 2018 to March 31, 2018


Cash In 62,138,528.67Employee Before-tax Contributions

7,852,406.84Roth Contributions

34,271,409.66Rollover Contributions

Loan Repayments 23,603,867.62

6,471,713.53Other

Total Cash In $134,337,926.32

Cash Out 3,655,577.67Withdrawals

11,950,929.47Installment Payments

67,620,729.68Terminations

20,264,585.34Loans Issued

927,593.73Fees

6,471,713.53Other

($110,891,129.42)Total Cash Out

$23,446,796.90 Net Cash Flow

0M

10M

20M

30M

40M

50M

01

/20

18

02

/20

18

03

/20

18

Cash In Cash Out Net Cash

$43,331,708.30 $42,461,046.62 $870,661.68Jan 2018

$49,411,540.33 $31,316,366.43 $18,095,173.90Feb 2018

$41,577,085.85 $37,113,716.37 $4,463,369.48Mar 2018

$134,320,334.48 $110,891,129.42 $23,429,205.06

10

"Other" activity represents all inter-participant transfer activity, which includes decedent/beneficiary activity, QDRO splits and Alternate participant transfers.


As of March 31, 2018

Participation Rate - Age

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

4.3%

35.6%

56.1%

66.7% 64.8%

54.7%

42.8%

0.0%

16.0%

9.9%

4.5%3.3%

3.0%

1.8%

2.1%

15.4%

12.8%8.8%

6.1%

3.2%

1.8%

UNDER 20 20-29 30-39 40-49 50-59 60-65 66 ANDOVER

Roth and Pre -Tax Roth OnlyPre - Tax

11

Participation Rate - DepartmentAs of March 31, 2018


0%

20%

40%

60%

80%

100%

CAO

Con

vent

ion

Cen

ter

and

Touris

m

Fire (S

wor

n)

Fire a

nd P

olice

Pension

s Har

bor

ITA

LACER

S

Police

(Civilia

n)

Police

(Swor

n)

Public

Wor

ks -

Board

57.3% 60.0%65.3%

57.6% 55.9%61.5%

68.6%

51.4%

74.4%66.7%

11.1%10.0%

13.9%

7.6%6.1%

5.2%

2.9%

6.8%

7.0%

3.5%

10.3% 10.0%

14.4%

10.2%10.3%

6.7%

7.3%

11.5%

13.9%

5.3%

78.6% 80.0%

93.6%

75.4%72.3% 73.4%

78.8%

69.7%

95.2%

75.4%

Roth and Pre - TaxParticipation

Roth Participation

Pre-Tax Participation

Top 10 Departments by Total Participation

12



Participation Rate - Department

Total ParticipationRoth and Non Roth Participation

Roth ParticipationPre-Tax ParticipationEligible ParticipantsDepartment

Aging 35 0.0% 2.9% 51.4% 54.3%Airports 3,563 7.7% 6.0% 43.9% 57.6%Animal Services 321 6.9% 4.7% 33.6% 45.2%Building and Safety 906 7.0% 4.3% 46.6% 57.8%CAO 117 10.3% 11.1% 57.3% 78.6%City Attorney 951 5.3% 5.4% 55.7% 66.4%City Clerk 114 3.5% 2.6% 57.9% 64.0%Controller 145 5.5% 3.4% 60.7% 69.7%Convention Center and Tourism 10 10.0% 10.0% 60.0% 80.0%Council 390 5.1% 4.1% 25.1% 34.4%Cultural Affairs 59 11.9% 6.8% 32.2% 50.8%Disability 21 0.0% 14.3% 23.8% 38.1%Economic and Workforce Development 124 4.8% 4.0% 46.8% 55.6%El Pueblo 9 11.1% 0.0% 33.3% 44.4%Emergency Management 23 8.7% 8.7% 47.8% 65.2%Employee Relations 3 0.0% 0.0% 33.3% 33.3%Ethics 27 14.8% 7.4% 33.3% 55.6%Fire (Civilian) 353 7.9% 5.7% 51.8% 65.4%Fire (Sworn) 3,116 14.4% 13.9% 65.3% 93.6%Fire and Police Pensions 118 10.2% 7.6% 57.6% 75.4%GSD 1,377 4.3% 3.4% 37.0% 44.7%Harbor 911 10.3% 6.1% 55.9% 72.3%Housing 620 8.5% 5.8% 42.9% 57.3%ITA 387 6.7% 5.2% 61.5% 73.4%LACERS 137 7.3% 2.9% 68.6% 78.8%Library 1,216 7.2% 7.1% 27.0% 41.2%Mayor 202 5.4% 6.4% 18.8% 30.7%Neighborhood Empowerment 31 6.5% 9.7% 32.3% 48.4%Office of Finance 314 8.9% 4.1% 52.5% 65.6%Personnel 491 8.8% 5.5% 50.9% 65.2%Planning 385 6.5% 10.9% 41.3% 58.7%Police (Civilian) 3,018 11.5% 6.8% 51.4% 69.7%Police (Sworn) 8,936 13.9% 7.0% 74.4% 95.2%

13

Total ParticipationRoth and Non Roth Participation

Roth ParticipationPre-Tax ParticipationEligible ParticipantsDepartment

Public Works - Board 114 5.3% 3.5% 66.7% 75.4%Public Works - Contract Administration 313 9.9% 4.5% 46.6% 61.0%Public Works - Engineering 776 8.1% 4.5% 55.9% 68.6%Public Works - Sanitation 2,780 7.3% 5.7% 37.9% 51.0%Public Works - Street Lighting 244 5.7% 9.4% 53.3% 68.4%Public Works - Street Services 1,006 4.6% 3.8% 38.6% 46.9%Recreation and Parks 3,507 2.3% 3.4% 17.5% 23.2%Transportation 1,576 8.6% 6.3% 47.1% 62.1%Water and Power 10,412 7.2% 5.2% 47.8% 60.2%Zoo 228 4.8% 8.3% 38.2% 51.3%

14

Participation Rate - MOUAs of March 31, 2018


0%

20%

40%

60%

80%

100%

17 S

uper

viso

ry P

rof.

Engin

eerin

g

and

Scien

tific

22 F

ire C

hief

Office

rs

23 F

irefig

hter

s an

d Fire

Cap

tain

s

24 P

olice

Offi

cers

, Lts. a

nd B

elow

25 P

olice

Offi

cers

, Cap

t. an

d Abo

ve

26 P

ort P

ilots

37 E

xecu

tive

Administra

tive

Assista

nts

39 L

. A. A

irpor

t Sup

erviso

ry P

eace

Office

rs

61 S

enio

r Adm

inistra

tive

and

Administra

tive

Analysts

63 P

erso

nnel

Dire

ctor

73.2%82.0%

64.9%74.2%

91.7%

58.3%

75.5%66.2%

55.6%

71.4%

3.0%

1.1%

14.2%

7.0%

2.8%

16.7%

4.7%

3.9%17.8%

4.8%4.4%

9.0% 14.5% 14.1%

1.9%

8.3%3.8%

14.3%13.3% 9.5%

80.6%

92.1% 93.7% 95.2% 96.3%

83.3% 84.0% 84.4%86.7% 85.7%

Roth and Pre - TaxParticipation

Roth Participation

Pre - Tax Participation

Top 10 MOU by Total Participation

15



Participation Rate - MOU

MOU Roth and Pre-Tax Participation

Total ParticipationEligible Participants Roth ParticipationPre-Tax Participation

01 Administrative 2,234 9.5% 7.5% 47.3% 64.3%02 Building Trades 1,593 8.1% 5.5% 45.4% 59.0%03 Clerical 5,899 8.2% 6.0% 39.0% 53.1%04 Equip. Operation and Labor 4,086 4.5% 4.9% 29.7% 39.2%05 Inspectors 877 7.8% 4.3% 50.2% 62.3%06 Librarians 731 10.3% 8.1% 43.0% 61.3%07 Recreation Assistants 2,262 6.1% 6.0% 26.7% 38.8%08 Professional Engineering and Scientific 5,731 7.8% 5.0% 45.9% 58.7%09 Plant Equip. Operation and Repair 371 7.0% 3.8% 49.1% 59.8%10 Professional Medical 78 9.0% 3.8% 47.4% 60.3%11 Recreational 319 4.1% 6.9% 41.1% 52.0%12 Supervisory Blue Collar 835 6.2% 4.2% 54.6% 65.0%13 Supervisory Building Trades 141 2.8% 5.0% 57.4% 65.2%14 Service and Craft 939 4.8% 4.3% 37.2% 46.2%15 Service Employees 904 2.4% 3.7% 21.3% 27.4%16 Supervisory Librarians 111 8.1% 9.0% 59.5% 76.6%17 Supervisory Prof. Engineering and Scientific 496 4.4% 3.0% 73.2% 80.6%18 Safety - Security 1,632 9.3% 9.1% 38.8% 57.2%19 Supervisory Technical 279 7.5% 4.7% 59.1% 71.3%20 Supervisory Administrative 1,329 8.0% 4.3% 65.0% 77.3%21 Technical 1,168 9.8% 7.4% 42.9% 60.0%22 Fire Chief Officers 89 9.0% 1.1% 82.0% 92.1%23 Firefighters and Fire Captains 3,025 14.5% 14.2% 64.9% 93.7%24 Police Officers, Lts. and Below 8,825 14.1% 7.0% 74.2% 95.2%25 Police Officers, Capt. and Above 108 1.9% 2.8% 91.7% 96.3%26 Port Pilots 12 8.3% 16.7% 58.3% 83.3%27 L. A. Port Police Command Officers 16 6.3% 6.3% 62.5% 75.0%28 L. A. General Services Police Officers 22 0.0% 9.1% 54.5% 63.6%29 Deputy City Attorneys 484 3.3% 4.1% 63.8% 71.3%30 L. A. Airport Peace Officers 433 10.2% 6.0% 48.5% 64.7%31 Confidential Attorneys 33 12.1% 3.0% 45.5% 60.6%

16

MOU Roth and Pre-Tax Participation

Total ParticipationEligible Participants Roth ParticipationPre-Tax Participation

32 Management Attorneys 18 0.0% 5.6% 72.2% 77.8%34 Crossing Guards 221 1.4% 1.8% 11.8% 14.9%36 Management Employees 688 4.4% 2.5% 62.9% 69.8%37 Executive Administrative Assistants 106 3.8% 4.7% 75.5% 84.0%38 L. A. Port Police Assoc. 113 17.7% 7.1% 54.0% 78.8%39 L. A. Airport Supervisory Peace Officers 77 14.3% 3.9% 66.2% 84.4%40 Airport Police Command Officers 8 25.0% 0.0% 50.0% 75.0%61 Senior Administrative and Administrative Analysts 45 13.3% 17.8% 55.6% 86.7%63 Personnel Director 21 9.5% 4.8% 71.4% 85.7%Non - Represented 3,090 5.4% 3.1% 49.5% 58.1%

17

Population TypeAs of March 31, 2018


CITY 42.7%DWP 15.9%FIRE 4.9%POLICE 13.9%RETIREES 22.6%

Total: 100.0%

18

Participant Contributions Analysis

19

Total Contribution Amount Summary As of March 31, 2018

CITY OF LOS ANGELES

0

1000

2000

3000

4000

5000

6000

7000

8000

< $49 $50 to $99 $100 to $149 $150 to $199 $200 to $249 $250 to $299 $300 to $399 $400 to $499 $500 >

2,986

3,765 3,865

189

1548

2,070

1,077

5,991

502

569 553

262

1,105

473

297

571686

322

424

210

396

286

968

3,785

4,9055,104

2,059

2,756

1,411

2,462

1,486

7,432

Nu

mb

er

of

Pa

rtic

ipa

nts

Contribution Amount

Total Number of Participants: 31,400

20

Roth and Pre-TaxParticipants

Roth Participants

Pre-Tax Participants

1791887

95124

Average Contribution AmountAs of March 31, 2018

CITY OF LOS ANGELES

$0.00

$50.00

$100.00

$150.00

$200.00

$250.00

$300.00

$350.00

$400.00

$450.00

< 21 21-30 31-40 41-50 51-60 61 +

$2

41

.20

$1

61

.96 $

22

9.4

2

$2

75

.87

$3

80

.49 $4

35

.21

$1

33

.20

$1

42

.96

$1

40

.74

$1

54

.04 $

21

9.8

8

$2

61

.58

Before-tax $

Average $ Roth forChart

Age Group

Ave

rag

e A

mo

un

t

Pre-tax Average $

Age Group

RothAverage $

$241.20< 21 $133.20

$161.9621-30 $142.96

$229.4231-40 $140.74

$275.8741-50 $154.04

$380.4951-60 $219.88

$435.2161 + $261.58

$303.90Overall $161.89

21

Total Contribution Percentage Summary As of March 31, 2018

CITY OF LOS ANGELES

0

20

40

60

80

100

120

2131

2212

65

20

617

3

59

40

8 5

2

10

8

2

22

3

6

5

2

15

12

41

0

9

10

17

15

22

7

11

5

26

26

7

2

23

50

40

31

102

45

19

33

10

100

78

19

8

1%

2%

3%

4%

5%

6%

7%

8%

9%

10%

11 -

20%

21 -

40%

41 -

99%

Roth and Pre-TaxParticipants

Roth Participants

Pre-Tax Participants

Contribution %

# o

f P

art

icip

an

ts

Total Number of Participants: 558

22

Average Contribution PercentageAs of March 31, 2018


0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

< 21 21-30 31-40 41-50 51-60 61 +

5.0

%

7.6

%

6.6

%

6.6

%

10

.6%

16

.2%

0.0

0%

7.2

%

5.9

%

3.1

%

6.0

%

8.3

%

Pre-tax % Roth %

Age Group

Ave

rage P

erc

ent

Pre-Tax Average %

Age Group

RothAverage %

5.0%< 21 0.0%

7.6%21-30 7.2%

6.6%31-40 5.9%

6.6%41-50 3.1%

10.6%51-60 6.0%

16.2%61 + 8.3%

7.7%Overall 5.9%

23

Participant Distributions Analysis

24

City of Los Angeles

January 01, 2018 and March 31, 2018

Disbursements

0M

5M

10M

15M

20M

25M

30M

35M

40M

45M

0

500

1000

1500

2000

2500

3000

3500

4000

4500

Full Distribution Installment Partial

29,834,922

8,593,818

41,885,021

275

4,406

1,382

Disbursement Amount Disbursement Count

Disbursement Type Number of Disbursements Total Disbursements

Full Distribution 275 $29,834,922

Installment 4,406 $8,593,818

Partial 1,382 $41,885,021

25

12

3

10

13

17

Rejection Reasons

IncompleteapplicationIneligible reason

Duplicate request

Invalid supportingdocsNo suppotingdocs

Unforeseeable Emergency Withdrawal Summary As of March 31, 2017


17

5

67

2

25

Withdrawal Reasons (completed applications)

Medical expenses

Repair of principalresidence

Mortgage foreclosureor eviction

Funeral/burialexpenses

Illness or accident

Total Received 120

Approved 65

Denied 51

26

Rollover Activity As of March 31, 2017


$- $200,000.00 $400,000.00 $600,000.00 $800,000.00

$1,000,000.00 $1,200,000.00 $1,400,000.00 $1,600,000.00 $1,800,000.00

LAFPP

LACERS

WPERP

$-

$1,000,000.00

$2,000,000.00

$3,000,000.00

$4,000,000.00

$5,000,000.00

$6,000,000.00

$7,000,000.00

Charles Schwab & Co., Inc.

Fidelity Investments

Merrill Lynch

Morgan Stanley & co

TD Ameritrade

Pershing LLC

Wells Fargo

Vanguard Fiduciary Trust Co.

Edward Jones

Thrivent Financial

$29,834,922.00 $30,822,627.20

$0.00

$5,000,000.00

$10,000,000.00

$15,000,000.00

$20,000,000.00

$25,000,000.00

$30,000,000.00

$35,000,000.00

LumpSumRollover

Rollovers to LACERS, Board of Fire & Police Commissioners and WPERP by Dollar Amount

Top 10 Rollover Providers by Dollar Amount

27

Asset Analysis

28

Balances by Investment



Average Participant

Percentage of Plan AssetsInvestment BalanceInvestment

Number of Participants

SCHWAB BROKERAGE $462,794,961.20 $144,623.43 7.7%3,200

FDIC INSURED SAVINGS ACCOUNT $335,928,467.17 $24,620.97 5.6%13,644

STABLE VALUE $1,083,341,730.22 $78,926.25 18.0%13,726

ULTRA CONSERVATIVE PORTFOLIO $62,562,783.10 $32,298.80 1.0%1,937

CONSERVATIVE PORTFOLIO $169,453,310.24 $38,714.49 2.8%4,377

MODERATE PORTFOLIO $386,296,767.00 $36,244.77 6.4%10,658

AGGRESSIVE PORTFOLIO $393,556,484.20 $30,183.03 6.5%13,039

ULTRA AGRESSIVE PORTFOLIO $184,970,407.09 $22,762.79 3.1%8,126

DCP BOND FUND $171,767,172.88 $22,768.71 2.9%7,544

DCP LARGE CAP FUND $1,939,100,600.69 $90,350.41 32.2%21,462

DCP MID CAP FUND $289,288,243.83 $34,703.48 4.8%8,336

DCP SMALL CAP FUND $271,062,220.80 $27,201.43 4.5%9,965

DCP INTERNATIOINAL FUND $269,616,474.57 $25,543.96 4.5%10,555

Total Investment Balance: $6,019,739,622.9

$195,556,916.38Total Loan Fund:

29

Transfer Activity by InvestmentJanuary 1, 2018 to March 31, 2018


-100M

-80M

-60M

-40M

-20M

0M

20M

40M

60M

80M

100M

DCP B

OND F

UND

DCP M

ID C

AP FUND

AGGRESSIV

E PORTFO

LIO

SCHW

AB BROKER

AGE

DCP S

MALL

CAP F

UND

ULT

RA C

ONSER

VATIVE

PORTFO

LIO

CO

NSER

VATIVE

PORTFO

LIO

MODER

ATE PORTFO

LIO

FDIC

INSU

RED

SAVIN

GS

ACCO

UNT

ULT

RA A

GRESSIV

E

PORTFO

LIO

DCP IN

TERNATIO

INAL

FUND

STABLE V

ALUE

DCP L

ARG

E CAP F

UND

13.6M 21.9M 19.3M 15.2M 13.1M 18.5M 26.9M 30.5M

55.1M

26.9M 21.0M

81.7M

57.3M

-13.7M -21.6M -25.9M-9.2M

-20.9M -12.0M-21.6M

-31.9M-41.6M

-23.5M -21.6M

-68.5M-88.7M

30

Transfer Activity by Investment


January 1, 2018 to March 31, 2018

Investment Name Transfers In Transfers Out Net

-9.20 M 6.00 MSCHWAB BROKERAGE 15.20 M

-41.60 M 13.50 MFDIC INSURED SAVINGS ACCOUNT 55.10 M

-68.50 M 13.20 MSTABLE VALUE 81.70 M

-12.00 M 6.50 MULTRA CONSERVATIVE PORTFOLIO 18.50 M

-21.60 M 5.40 MCONSERVATIVE PORTFOLIO 26.90 M

-31.90 M -1.40 MMODERATE PORTFOLIO 30.50 M

-25.90 M -6.60 MAGGRESSIVE PORTFOLIO 19.30 M

-23.50 M 3.30 MULTRA AGRESSIVE PORTFOLIO 26.90 M

-13.70 M -0.10 MDCP BOND FUND 13.60 M

-88.70 M -31.40 MDCP LARGE CAP FUND 57.30 M

-21.60 M 0.30 MDCP MID CAP FUND 21.90 M

-20.90 M -7.80 MDCP SMALL CAP FUND 13.10 M

-21.60 M -0.60 MDCP INTERNATIOINAL FUND 21.00 M

31

Participants with Balances by Number of InvestmentsAs of March 31, 2018


21.10%

12.65%9.72%

7.54%5.15%2.96%1.59%0.76%1.15%

37.38%

1 170202 96093 57594 44245 34356 23447 13488 7269 34810 or More 523

Total: 45536

Number ofInvestments

Number ofParticipants

32

Participants with a Balance in a Single InvestmentAs of March 31, 2018


0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

SC

HW

AB

BR

OK

ER

AG

E

FD

IC IN

SU

RE

D S

AV

ING

S A

CC

OU

NT

ST

AB

LE

VA

LU

E

ULT

RA

CO

NS

ER

VA

TIV

E P

OR

TF

OLIO

CO

NS

ER

VA

TIV

E P

OR

TF

OLIO

MO

DE

RA

TE

PO

RT

FO

LIO

AG

GR

ES

SIV

E P

OR

TF

OLIO

ULT

RA

AG

RE

SS

IVE

PO

RT

FO

LIO

DC

P B

ON

D F

UN

D

DC

P L

AR

GE

CA

P F

UN

D

DC

P M

ID C

AP

FU

ND

DC

P S

MA

LL C

AP

FU

ND

DC

P IN

TE

RN

AT

IOIN

AL F

UN

D

53

1,787

2,837

181

536

2,382

4,388

2,321

118

2,272

76 31 38

Num

ber

of P

art

icip

ants

33

PCRA Summary As of March 31, 2018


3,177

329

Total Funded SDBOAccounts 3506

Total Funded SDBOPre-Tax Accounts

Total Funded SDBORoth Accounts

Total Funded SDBO Accounts: 3506 SDBO accounts opened this quarter: 118 Total Advisor Managed Funded SDBO Accounts: 643

0.81% 15.60%

36.21% 21.56%

11.66%

0.31%

13.85% Fixed Income

ETFs

Equities

Mutual Funds(OneSource)Mutual Funds(Transaction Fee)Mutual Funds(Other)Cash

34

Loan Summary



0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

1 Loan 2 Loans

7,132

6,273

Nu

mb

er

of

Pa

rtic

ipa

nts

Total Participants with Loans: 13,405

Total Number of Outstanding Loans: 19,678

Number of General Loans: 17,780

Number of Residential Loans: 1,901

Total Outstanding Loan Balance: $195,556,916.38 General Loan Balance: $156,738,931.62

Residential Loan Balance: $33,788,785.76

Number of Re-amortized Loans during the period: 221

Number of Loan Defaults during the period: 0

New Loans Initiated During the period: 1,297

New Loans Initiated by Active Participants: 1,232

New Loans Initiated by Retirees: 65

35

Number of Inactive Loans with a Loan Balance: 836

Participant Services

36

City of Los Angeles Digital Engagement 01/1/2018 to 03/31/2018

Retirement Calculator Engagement 28% of participants took action after using Calculator

144 participants changed deferral rate: on average from 7.4% to 5.6%

2,922 participants changed deferral amount: on average from $304 to $338

1,584 participants changed current/future asset allocation

61 participants rolled money into the plan (consolidated assets)

Activity # of Participants

Logged in with access to Calculator 20,300

Viewed Calculator 12,070 (59%)

Engaged and interacted with Calculator 13,946 (116%)

Took Action after using Calculator 3,925 (28%)

For plan sponsor use only Data above is based on participant activity for the time period specified in above title Products and services offered through the Voya(R) family of companies. CN0525-24868-0618

Logged in: logged into web or mobile and have access to Calculator Viewed: are those that viewed Calculator via the web or mobile Engaged: are those that used the tool and clicked on events such as healthcare, how does this work, used the sliders, etc. Actions taken: are those actions like asset transfers, increasing or decreasing deferral rates.

37

City of Los Angeles Digital Engagement 01/1/2018 to 03/31/2018

Loans 619 participants used loan guidance

397 (64%) participants used loan guidance and did not take a loan

222 (36%) participants used loan guidance and went on to take a loan

642 participants skipped loan guidance and clicked on “request a loan” 330 (51%) participants skipped loan guidance and did not take a loan

312 (49%) participants skipped loan guidance and went on to take a loan

For plan sponsor use only Data above is based on participant activity for the time period specified in above title Products and services offered through the Voya(R) family of companies. CN0525-24868-0618

38

Participant Contact SummaryJanuary 1, 2018 to March 31, 2018

CITY OF LOS ANGELES

0K

20K

40K

60K

80K

100K

Jan-2018 Feb-2018 Mar-2018

6,9

61

5,6

66

4,2

55

12

,25

6

9,6

91

7,6

86

82

,99

2

70

,10

2

60

,98

8

13

,13

0

12

,75

7

10

,70

5

Total PSR Calls Total IVR Calls Total Web Visits Total Unique Web Visits

Num

ber

of C

onta

cts

39

4,982

3,296

2374

1752 1,692

1352

853 651

482 430

0

1000

2000

3000

4000

5000

6000

PSR Activity: Top Ten Call Reasons As of March 31, 2018


40

Participant Service Representative (PSR) ActivityJanuary 01, 2018 to March 31, 2018

CITY OF LOS ANGELES

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

0

20

40

60

80

100

120

01/2018 02/2018 03/2018

6,961

5,666

4,255

23

9

35

20 20 20

PSR Call VolumesAverage Speed ofAnswer

Average Speed ofAnswer Goal

PS

R C

all

Volu

mes

Ave

rage S

peed o

f Answ

er (S

eco

nds)

Reporting Period

Average Speed of Answer (Seconds)PSR Call Volume

Average Call Length (Minutes)

6,961 6.48 23Jan-2018

5,666 6.15 9Feb-2018

4,255 6.42 35Mar-2018

41

IVR ActivityJanuary 01, 2018 to March 31, 2018

CITY OF LOS ANGELES

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

-600%

-400%

-200%

0%

200%

400%

600%

Jan-2018 Feb-2018 Mar-2018

Percent of IVR CallsTransferred to PSR

IVR Calls Outside ofPSR Hours

IVR Calls During PSRHours

Num

ber

of IV

R C

alls

Perce

nta

ge o

f Calls D

ropped to

PS

R

Percent of IVR Calls Transferred to PSR

IVR Calls Transferred to PSR

IVR Calls Outside of PSR Hours

IVR Calls During PSR Hours

Total IVR CallsDate

Jan-2018 12,256 10,397 1,859 7,056 0.00

Feb-2018 9,691 8,246 1,445 5,692 0.00

Mar-2018 7,686 6,384 1,302 4,342 0.00

42

Paperless Transactions by Channel (IVR/PSR/WEB/MOB Combined)

January 1, 2018 to March 31, 2018

CITY OF LOS ANGELES

Paperless Transaction Description Transaction Volume

221Address Change

Banking Information 988

Beneficiary Election 1,142

Contribution Rate Change 6,377

Contribution Rate Escalator 94

Form Request 426

Fund to Fund Transfer 3,748

In-service Withdrawal 1,158

Investment Election Change 2,462

Investment Reallocation 1,697

Rebalance Election 75

Loan Repayment ACH Election 63

New Loans Issued 1,218

Online Loan Payoff via ACH 2,181

244

Enrollments for the Period: 727

43

Termination Distribution

Local Service Center

44

Local Retirement Counselors January 1, 2018 to March 31, 2018

Call Totals: 3,736

La Tanya Harris

Vincent Alvarez

Steve Harman

Carol Say

Leslie Yoshioka

Counter Service Totals: 1,297

Animal Services 3 Bureau of Street Services 1 Central Library 4 Central Parking Enforcement 1 City Hall 3 DWP 15 Hollywood Parking Enforcement 1 LA DOT H&W Benefits Fair 1 LA Harbor San Pedro 3 LACERS 13 LAFD LAX 1 LAFPP 4 LAPD 4 LAPPL 4 LAWA LAX 13 LAWA Van Nuys 1 Port of LA 1 Public Works 1 Public Works Bureau of Eng 1 Public Works Sanitation 1 Public Works Street Lighting 1 Public Works Marvin Braude 1 Southern Parking Enforcement 1 Valley Parking Enforcement 1 Western Parking Enforcement 1

Department Onsite Visits

Participant Interaction Totals: 5,124

45

TRENDS & INSIGHTS - Los Angeles · CITY OF LOS ANGELES DEFERRED COMPENSATION PLAN. As of March 31,...

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