Applying for Retirement

Applying for Retirement

Overview

New Policy for Managed Service Retirements Process

Effective Immediately

Based on operational changes made necessary to comply with the declared City health and/or fiscal emergency, LACERS has instituted a Managed Service Retirement Application Policy for all active City employees wishing to retire. 

The policy goes into effect May 1, 2020. This means retirement applications will be taken in the order received and placed in a processing queue.  Retirement effective dates will be scheduled by LACERS based on the number of applications received and resources available.

Every effort will be made to schedule a retirement effective date close to the member’s original requested date. LACERS is committed to the process and delivery of all retirement benefits as promptly as is feasible under these challenging emergency circumstances.  Further details on the managed retirement process can be found at the Managed Retirement Application Frequently Asked Questions.

Managed Service Retirement Application

Retirement Applications on File

If you already have a retirement application on file with LACERS, please be advised applications will be prioritized based on your retirement effective date and the completeness of your retirement forms and documents.  Service Retirement staff will contact you to inform you on the status of your application. Due to limited staff and the precautionary measures implemented by the Mayor and as recommended by various public health agencies, communication will be limited and on an as-needed basis. We ask for your patience and cooperation during this challenging time. 

Filing Period

You may only apply for retirement within 30-60 days of your retirement date. When selecting a retirement date, keep in mind the following:

  1. Your retirement allowance is paid monthly on the last day of the month;
  2. Your first monthly retirement allowance is typically issued the month following the pay period ending date in which your retirement date falls; and
  3. Consider any tax obligations you may incur for vacation and/or sick time payouts.
     

Required Documents

Overview

Submit Your Required Documents

 It’s never too early to begin gathering and submitting your required retirement documents. The following table outlines the documents you will be asked to submit to LACERS in order to retire:

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Withdrawing or Amending an Application

Overview

Withdrawing or Amending an Application

Your application for retirement may be withdrawn up to, but no later than, midnight the day before your retirement effective date.  All requests must be in writing and received by LACERS by the deadline.

You may amend your application for retirement 30-60 days from the date on which your retirement application was received. Your retirement effective date and amended date must not have passed and your signed amendment must be received by LACERS no later than midnight the day before your retirement effective date.

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Disability Retirement

Overview

Disability Retirement

If you become disabled while an active Member, you may be eligible for a Disability Retirement. Your disabling condition need not be job-related, but it must prevent you from performing your regular job duties. A Disability Retirement Allowance is generally paid as one-third of your Final Compensation.  A Disability Retirement Allowance is not tax-free. 

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