LACERS’ Annual Review

Article
Info Bulletin

The Los Angeles City Employees’ Retirement System (LACERS) undergoes review by its actuary at least annually to ensure that its benefits are administered in accordance with all legal, tax and fiscal standards. This year a recommendation will be implemented requiring a minor adjustment to account for the Cost of Living Adjustments (COLA) that spouses/domestic partners, eligible for a Continuance (a member’s retirement allowance continuedat 50% or greater for the spouse’s lifetime), receive upon the member’s death.

WHO IS AFFECTED

This change will affect members who retire and choose to take a reduction to their retirement allowance to do one of the following:

Retire Married
Leave a Continuance to their spouse/domestic partner greater than 50%; or

Leave a Continuance for an ineligible spouse/domestic partner (married less than one year prior to their retirement date); or

Retire Single
Leave a Continuance to any designated beneficiary.

WHAT IS THE IMPACT

The changes will be applied on July 1, 2020. If you are considering retiring in 2020 and meet the criteria in the ‘Who is Affected’ section, you may contact LACERS and request an estimate to determine what impact, if any, this may have on your
retirement allowance.

Address: 202 W. First Street, Ste. 500 Los Angeles, CA 90012

Hours: Mon – Fri 7:00 am – 4:00 pm

Phone: (800) 779-8328
             (888) 349-3996 TTY

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