Workers in Los Angeles County count on LACERA to help them retire in comfort. LACERA, officially the Los Angeles County Employees Retirement Association, provides retirement, disability, and death benefits, as well as health care coverage for current and retired employees of Los Angeles County. In all, the organization oversees more than $35 billion in assets. Its operations are overseen by two boards, one that manages retirement benefits and one that manages LACERA's investments. Founded in 1938, the association today serves more than150,000 active and retired participants. The Bank of New York Mellon acts as custodian for the association.