Family Death Benefit Insurance Plan (FDBIP)
The
Family Death Benefit Insurance Plan (FDBIP or "the Plan")
is a voluntary program designed to provide increased financial protection
for the families
of LACERS members who die prior to retirement. It affords similar protection
provided by Survivors Insurance under the Social Security program. The
FDBIP is funded on an insurance basis with participating members and the
City sharing the cost and is in addition to other death benefits provided
by the System. Beginning July 1, 2004, each member pays $3.70
a month and the City contributes an equal amount. An employee becomes eligible
for membership in the Plan after 18 months
of City service.
For more
details, please view the information
sheet, brochure, or the video.
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