Retirement Profiles

Retirement Profiles follows the paths of LACERS members preparing for retirement at different stages in their careers.

New Employee: Debra
Debra joined the City 18 months ago as a Management Assistant. Debra, 27, can retire with normal eligibility when she is 56 and has 30 years of City service credit.

“After graduating college, I couldn’t find any jobs that offered benefits. My aunt suggested I take the City’s Management Assistant test. She’s worked for the City of Los Angeles for over 17 years.”

But just being hired by the City wasn’t enough – Debra wants to retire before age 60. Below is our list of suggestions for new employees who want to retire comfortably:

1. Start planning your retirement now. The earlier you start, the more options you have.

2. Find out as much as possible about the benefits you will receive from your past and future employers. You can’t plan your retirement accurately
without this information. Attend LACERS Planning for Retirement seminar for information on your LACERS benefits.

3. Explore other saving options such as LACERS Larger Annuity Program and Deferred Compensation (www.cityofla457.com).

4. Create a retirement plan to determine your retirement expenses. Include where you will live, your hobbies, travel, taxes – any expenses you anticipate in retirement.

After following these steps, Debra realized that she needed to save more if she wanted to retire before age 60.“I joined Deferred Compensation. It’s great for me, since the money comes right out of my check before I ever see it – I don’t have to worry about paying it on my own!” Next Retirement Profile - Mid-Career Employee.