The City of Los Angeles has approved a Separation Incentive Program (SIP) for it’s active employees that may affect the ability for deferred and reciprocal members to retire during the SIP period beginning November 1, 2020, and ending January 31, 2021.
If you are not currently working for the City, but are considering taking advantage of any LACERS retirement benefits you may have previously earned, please take the time to read the following information pertaining to the processing of retirements.
- LACERS to Suspend Non-SIP Retirement Applications from November 1, 2020 – January 31, 2021
- Non-CSIP Retirement Application Suspension Q&A Zoom Session
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.
Additionally, 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.
JOIN US FOR A QUESTION AND ANSWER SESSION ON 9/15/2020
We know that you may have questions and we want to make sure you receive the answers you need in order to make an informed decision regarding your retirement plans. As such, we will be conducting a question and answer session as follows:
LACERS Question and Answer Session regarding the Suspension of Non-SIP Retirement Applications from November 1, 2020 – January 31, 2021
DATE: Tuesday, September 15, 2020
TIME: 5:30 pm – 6:30 pm via Zoom
To register, please log onto your MyLACERS member account or call the main office at (800) 779-8328 and a staff member will assist you.