Applying for Retirement

Applying for Retirement

New Policy for Managed Service Retirements

Overview

LACERS WILL SUSPEND RETIREMENT APPLICATION SUBMISSION AND PROCESSING FOR ALL NON-SIP PARTICIPANTS FROM NOVEMBER 1, 2020, THROUGH JANUARY 31, 2021

In order to facilitate the initial processing of SIP retirements in a timely fashion, LACERS will not accept or process any non-SIP retirement applications during the three-month SIP period from November 1, 2020, through January 31, 2021, as proscribed by ordinance. This includes any person applying for normal, early or deferred retirement and those eligible to retire with Reciprocity.

NEW APPLICATION SUBMISSIONS AND/OR EXISTING MANAGED SERVICE RETIREMENT APPLICATIONS

Any non-SIP retirement applications previously submitted that are still pending at the beginning of the SIP period will be held in abeyance and processed after February 1, 2021. If you were planning to retire during this time period but are not planning to participate in the SIP program, you may still apply for retirement provided you:

  • Select a retirement date no later than October 31, 2020;
  • File within 30 to 60 days of your retirement date; and
  • Submit all required retirement application paperwork and documents before October 31, 2020.

Disability Retirements will continue to be processed and are not affected by the SIP period.

Click here to read the full abeyance ordinance.

Managed Service Retirement Application

In order to address your questions and provide the answers you need in order to make an informed decision regarding your retirement plans, LACERS conducted a question and answer session on September 15th, which is available for viewing on the LACERS YouTube Channel.

To view the recording of the Q&A Session, please click the link below.

LACERS Question and Answer Session regarding the Suspension of Non-SIP Retirement Applications from November 1, 2020 – January 31, 2021

Overview

Submit Your Required Documents

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:

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Your application for retirement may be withdrawn up to, but no later than, midnight the day before your retirement effective date.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.

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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