Active Employees
City Separation Incentive Program (CSIP)
Now that City Council has approved the CSIP program, will
LACERS send notifications to Members eligible to apply for the
CSIP?
No. LACERS has provided the Office of the City Administrative
Officer (CAO) the list of Members who meet with the CSIP
retirement eligible requirements. Any questions regarding CSIP
eligibility or applying for the CSIP should be directed to the
Office of the CAO.
Contact: Office of the CAO, Employee Relations Division at
cao.erd@lacity.org
CAO website: http://cao.lacity.org/SIP
Who do I contact about my interest in SIP?
Contact the Office of the CAO, Employee Relations Division at
cao.erd@lacity.org. You can also visit the CAO
website, http://cao.lacity.org/SIP, for
more information.
Who verifies my CSIP eligibility?
The Office of the CAO verifies CSIP eligibility and approves all
CSIP applications.
What happens to my retirement application if the 1300
participant goal is not achieved?
Retirement applications will not be issued to CSIP participants
until after the required participation goal is met. A special
CSIP retirement application will then be issued to participants
several weeks before their scheduled retirement date.
If the CSIP goal is met, how long will it take to hear
from LACERS regarding a retirement effective date? How will the
retirement dates be chosen?
Approved CSIP participants will be scheduled for retirement based
on the number of applications LACERS is required to process and
when the participant meets the criteria for normal retirement
eligibility.
If I already have a retirement application on file with
LACERS and file for the CSIP, will my original application remain
valid?
No, if you are approved as a CSIP participant, you will need to
withdraw your application and complete the special LACERS CSIP
retirement application and retire under CSIP guidelines.
Can I apply for retirement now and still be part of the
CSIP?
CSIP participation is determined by the Office of the CAO. If you
apply now and are approved for the CSIP, you will need to
withdraw your application and retire under the CSIP guidelines.
Conversely, if you apply for retirement and are not approved to
participate in the CSIP, your application will be processed under
the Managed Retirement Application process and LACERS will
determine your retirement effective date.
I recently withdrew my application in order to apply for
CSIP. Can I still use my previously submitted paperwork?
No, you will need to submit a CSIP retirement package.
Can I change my mind about participating in the CSIP
after I am approved for the program?
LACERS will receive the roster of approved CSIP participants
after the close of the rescission period. Everyone on the
approved roster will be locked in and required to retire on the
date determined by LACERS.
Who can I contact if I have retirement
questions?
You can contact LACERS Member Service Center at (800) 779-8328 or
send your question via email to Lacers.Services@Lacers.org.
How will my retirement application be processed? Will I
receive individual counseling?
Due to the expected large volume of applications, individual
counseling will not be possible. A Retirement Package, including
the CSIP retirement application, an estimate letter with monthly
retirement allowance options, the list of required documents, and
all ancillary retirement paperwork will be sent via email or US
mail to the CSIP participant. The retirement package will also
include a link to a video on how to complete the retirement
documents and an invitation to an optional question and answer
webinar.
Can I still purchase Service Credit to increase my
retirement allowance?
All CSIP applicants with identified service credit to purchase
should submit a buyback application as soon as possible after
receiving notification they have service time eligible for
purchase. However, be advised, there is no guarantee the service
credit purchase request will be processed prior to your CSIP
retirement date. Only service credit purchases for City time will
be considered for processing due to non-City service credit
purchases requiring 8-10 months to complete.
When do I have to pay off my service credit purchase to
have it count toward my retirement allowance?
The purchase must be made prior to your CSIP retirement date and
must be paid via lump sum payment or a rollover from an eligible
retirement plan.
If you choose to do a rollover, you are responsible for ensuring
the timely transfer of funds to LACERS prior to your CSIP
retirement date.
I have reciprocity with another governmental
agency. Will that reciprocal time be used for CSIP
eligibility?
Reciprocal time will be used to meet CSIP eligibility
requirements, however, only City Service will used in the
calculation of the CSIP payment.
Can I expedite my buyback?
You can expedite your service buyback by thoroughly reading the
information sheets, providing complete and thorough answers on
the forms, responding immediately to questions, and consolidating
your questions (preferably by email) to minimize the number of
communications back and forth to your buyback counselors. We will
have a record number of service purchase applications due to CSIP
and we will do our best to complete the service purchases, but we
cannot guarantee that the service purchase request will be
processed prior to your CSIP retirement date.
When and how do I enroll in the retiree medical and/or
dental (health) plans?
Your LACERS health plan coverage is separate from your Active
Employee benefits coverage and you will need to transition to
LACERS’ medical and/or dental coverage during the retirement
process. Once your retirement paperwork has been approved, LACERS
will send you health-specific enrollment material via email or US
mail, a link to a video on how to complete your health enrollment
documents, and an invitation to an optional health-enrollment
question and answer webinar. In the meantime, information
regarding retiree health benefits, subsidies, and premiums are
found in our 2020 Health Benefits Guide found online at
lacers.org, under Retirees/Health Benefits. Note that LACERS’
health plan premiums, plan design, and subsidies are subject to
change each year, and the updated Health Benefits Guide is
usually available on our website in early October. Retirees must
enroll in LACERS’ plans within 60 days of their retirement date.
Other health questions may be referred to
lacers.health@lacers.org
Will CSIP affect my medical or dental benefits in any
way?
CSIP does not impact retiree medical or dental benefits in any
way. Enrollment, eligibility, subsidies, and plan options
remain the same.
How much will the retiree medical and dental plans cost,
who can enroll, and what are my subsidies?
Medical and dental plan premiums (costs) are based on the plan(s)
you choose and the number of people you enroll. Eligible
dependents (spouse/domestic partner, children under 26, etc.) may
be enrolled in retiree plans. In order to receive a
subsidy, you must be age 55 with 10 years of Service. The
subsidies you receive are based on Medicare status and years of
City Service/Service Credit. Retirees with 25 or more years
of Service Credit are eligible for the maximum subsidies, but
depending on your plan choices and who you enroll, the subsidies
may not cover the costs and the difference will be deducted from
your retirement allowance. Details regarding plan costs,
subsidies, benefits, dependents, and charges for medical/dental
coverage are available in the 2020 Health Benefits Guide and at
lacers.org under Forms and Information Sheets, under Information
Sheets, Your LACERS Health Plan Subsidy.
I’m 65 years old, do I need to enroll in Medicare in
order to be eligible for a LACERS medical plan?
CSIP participants and/or their dependents enrolling in a medical
plan who are 65 and over, or will be turning 65 during the
retirement process, should enroll in Medicare three months before
their retirement date once identified, or as soon as possible if
their retirement date is already within three months. Enrollment
in Medicare Part B (doctor visits) is required. Enrollment in
Medicare Part A (hospitalization) is required only if it is at no
cost to the Member/dependent (based on number of quarters that
FICA taxes have been paid). Medicare Part D (prescriptions) is
already incorporated into LACERS’ Medicare plans, so do not
enroll in it separately. Medicare enrollment/maintenance is
required in order to receive a medical subsidy. Enrolled
Members/dependents who do not have their Medicare in place at the
time of retirement may be temporarily carried on LACERS
non-Medicare plans, but the Member will be charged for any
premiums paid by LACERS for untimely and/or inadequate compliance
with Medicare enrollment requirements.
When will I receive my CSIP payment and my sick and my sick
and vacation payouts? Will LACERS include information on my CSIP
payment and sick and vacation payouts in my retirement
application package?
LACERS is not responsible for CSIP payments nor sick and vacation
payouts. Questions regarding CSIP payments should be directed to
the Office of the CAO and sick and vacation inquiries to your
employing department.
When will I receive my CSIP payment and my sick and
vacation payouts? Will LACERS include information on my CSIP
payment and sick and vacation payouts in my retirement
application package?
LACERS is not responsible for CSIP payments nor sick and vacation
payouts. Questions regarding CSIP payments should be directed to
the Office of the CAO and sick and vacation inquiries to your
employing department.
Can I have priority retirement?
No CSIP participant will have priority over another. Retirement
effective dates will be determined by LACERS based on the
participants first date of retirement eligibility and CAO
priority guidelines.
According to my union, I can delay my retirement until
January 2021 to take advantage of a COLA increase. Is this delay
possible?
No, retirement effective dates shall be determined by LACERS and
will be processed as expeditiously as possible without regard to
a possible COLA increase.
My Domestic Partnership is on file with Employee
Benefits. Do I need to have one on file with LACERS?
Yes, your filing with Employee Benefits cover your active
employee City benefits.. You need to register your Domestic
Partnership with LACERS for your retirement related benefits.
When will CSIP retirements begin?
The changing nature of the ongoing public health emergency and
other external factors may impact LACERS’ operational/processing
capacity. At this time, LACERS estimates the first group of CSIP
participants will retire at the end of October. This date is of
course subject to change. If you are scheduled for the first
retirement group, you will be notified in September.
What is the realistic timeline for processing 1300+
applications?
The changing nature of the ongoing public health emergency and
other external factors may impact LACERS’ operational/processing
capacity. LACERS will determine the processing timeline when the
exact number of CSIP participants is known. (see previous
question)
What is the latest retirement date for CSIP
participants?
LACERS cannot determine the final retirement date until the exact
number of CSIP participants is known.
2020 Stock Market Volatility
How does the condition of the stock market affect my
retirement benefit?
Although the benefits are paid based on Member contributions, the
City contributions, and LACERS’ investments returns, your
retirement benefit is calculated based on a set formula:
Retirement Factor X Service Credit X Final Average
Compensation. Fluctuations in the stock market do not
impact the amount of monthly benefits you receive.
Should I wait to retire?
The decision to retire depends on each Member’s situation and
readiness. Please contact us on our main line at (800)
779-8328 to inquire about retirement eligibility or assistance
running a retirement estimate.
How does the condition of the stock market affect my
Larger Annuity account?
If you elected the five-year Treasury Note option, your return is
based on the performance of the five-year Treasury Note. If
you elected LACERS publicly-traded asset option, your return is
based on LACERS publicly traded asset performance, which may be
impacted by the market fluctuations.
What happens if LACERS runs out of money?
It would be nearly impossible for LACERS to run out of money
since funding of the plan comes from 3 sources: required annual
contributions from the City, required bi-weekly contributions
from employees, and investment returns. Funding levels of
the plan on routinely monitored to ensure LACERS ability to
provide retirement benefits over the long term.
Historically, what happened with LACERS investments when
the stock market “crashed”?
The value of LACERS portfolio also declined, but less so than the
stock market. This is due to the portfolio diversification
across different types of investments such as stocks, bonds, and
real estate. In other words, LACERS does not put all of its
eggs in one basket. Diversification helps ensure that
sufficient assets are available to provide retirement benefits
over the long term.
Address Changes
How do I update my mailing address with LACERS?
LACERS receives your mailing address through the City’s payroll
system. If you’ve updated your address through your department’s
Personnel Section, it will automatically be updated in LACERS’
system.
If you are no longer employed by the City of Los Angeles, but
still have funds in your LACERS account, submit LACERS’
Change of Address request,
available here.
Beneficiaries
How do I designate my Beneficiary?
Beneficiary information on file with Employee Benefits is not
automatically shared with LACERS. To update your beneficiary,
submit a designation of beneficiary form. Download the
form and read additional important information about
designating beneficiaries on the Designating
Beneficiaries page.
How can I view my Beneficiaries on file?
Click here to log into
your MyLACERS account to view your beneficiaries on file.
Buybacks/Service Credit Purchases
How can I purchase time to increase my retirement
benefit?
If you are interesting in purchasing time with LACERS, your
process will vary depending on the type of time you have
available to purchase.
Visit Supplementing Your
Retirement for more information.
Divorce/Dissolution of Marriage
Do I need to submit my divorce decree to LACERS?
LACERS will require a copy of your final judgement. Please visit the page on divorce for more
information.
Domestic Partnership
Employee Benefits has my Domestic Partnership information. Do I
need to submit information to LACERS also?
Filing a Declaration of Domestic Partnership with Personnel
Department, Employee Benefits section is not sufficient to cover
the administration of benefits with LACERS. Please visit the Domestic
Partnership page for more details.
Early Retirement Incentive Program (ERIP)
What is the total number of ERIP participants?
There are 2,400 ERIP participants.
What is the ERIP Cost Obligation?
The ERIP Cost Obligation is the full cost of ERIP as defined in
the Los Angeles Administrative Code section 4.1033 (“ERIP
Ordinance”). The
ERIP Ordinance states that the ERIP Cost Obligation is the
obligation of LACERS Members, and that the City and Unions
envisioned ERIP to be cost-neutral to the City.
How was the ERIP Cost Obligation determined?
The preliminary ERIP Cost Obligation was determined by
an enrollment actuary engaged by the City, pursuant to
requirements of the Los Angeles City Charter section 1168 (b),
which specifies that the City Council must be advised in writing
of the cost of benefit increases prior to adoption of an
ordinance to change the LACERS benefit(s).
The City’s Consulting Actuary provided cost estimates of ERIP
based on various scenarios projecting “take” rates of eligible
employees. Preliminary projected costs ranged from $250
million to retire 2,229 employees, up to $354 million to retire
2,763. The ERIP Ordinance adopted a preliminary cost of
$271M to retire 2,400 employees.
However, based on the LACERS actuarial valuation report of June
30, 2009 (revised April 22, 2010), the unfunded actuarial accrued
liability increased by $355 million when factoring in nearly all
ERIP retirees (2,393 of the 2,400 ERIP retirees were finalized at
the time of the report).
What is the time period by which the ERIP Cost Obligation
should be paid?
According to the ERIP Ordinance, the employee contributions
toward the ERIP Cost Obligation begin on July 1, 2011 and end on
June 30, 2026 (a 15-year period), or until the ERIP Cost
Obligation is fully paid, whichever comes first.
How much money to date, has been paid by LACERS’ Active
and Retired Members toward paying off the ERIP Cost
Obligation?
As of March 31, 2020, over $202.6 million has been paid
toward the $355 million ERIP Cost Obligation. The pace of
contributions toward ERIP are expected to decline slightly as the
number of active Tier 1 Members retire. New LACERS Members
joining the City, currently enter under Tier 3 Membership and do
not contribute to ERIP.
Furlough Information: Full-Time (72+ hour) Employees
Will mandatory furloughs affect my retirement
benefits?
No. Taking furlough days will not impact your retirement benefits
because your benefit is determined by your Compensation Earnable,
which is the amount your classification earns for 80 hours in a
pay period.
If I am earning less money because of the furlough days,
why won’t my retirement benefits be impacted?
Your retirement allowance is based on the following formula:
Service Credit x Final Compensation x 0.0216.
Service Credit – This is determined by the
amount of time you have worked as a member of LACERS and made
contributions to your retirement account per Los Angeles
Administrative Code (LAAC) 4.1001. As long as you work
enough hours to cover the costs of your full retirement
contribution and any other payroll deductions (this very likely
will not be an issue with two furlough days per month), you will
continue to earn the same amount of Service Credit with or
without furlough days.
Final Compensation – This is the average of
the last 12 months (or any other 12 consecutive month period you
designate) of Compensation Earnable in your classification
and will not be affected by furlough days. “Compensation
Earnable” is the amount your classification earns for full-time
service (LAAC 4.1001). Taking furlough days will reduce the
amount of money you earn, but it will not reduce your
Compensation Earnable. Because furlough days will not impact your
Service Credit or your Final Compensation, they will have no
impact on your retirement allowance.
Do I still have to make my full retirement contribution
if I am taking mandatory furlough days?
Yes. Your retirement contribution is calculated based on
your compensation earnable for your specific classification
(LAAC 4.1003). Your compensation earnable is the full
salary, wage or compensation established for any position or
office in the City service (LAAC 4.1001). Your retirement
contribution and service credit will remain the
same whether your work 72 hours or 80 hours in a pay period
While I understand mandatory furlough days will not
affect my retirement benefits, it will reduce my salary. Can I
borrow from my retirement account?
No. The Los Angeles Administrative Code does not provide LACERS
the authority to allow members to borrow from their LACERS
accounts.
Do I have to take furlough days?
Please check with your Department Personnel Director to determine
if you are required to take any furlough days.
Does LACERS have any services that will help me cope with
the salary reduction of mandatory furlough days?
If you are facing other specific problems and feel you need
assistance, the City’s Employee Assistance Program (EAP) provides
help and counseling for a variety of issues. The EAP can be
contacted 24 hours a day, 7 days a week by their toll-free line
at (800) 213-5813. Their website is also available for
information at: www.liveandworkwell.com,
company code: CityofLA
Medicare
I am already over age 65 but I am still working for the
City. Do I need to apply for Medicare?
If you are still working at age 65 and are covered by the City’s
(“Active”) medical plan, you can defer enrollment in Medicare
until you retire. During your retirement process, LACERS Staff
will provide you with additional documentation to take to Social
Security to waive any late enrollment penalties.
For additional information on Medicare after retirement, please visit the
Retirees Medicare Information page.
Retirement – Managed Retirement Application (MRA)
Process
When does the Managed Retirement Application (MRA) go
into effect?
The Managed Retirement Application is now in effect and applies
to any retirement application received on or after May 1, 2020.
Managed Service Retirement Application
How does the MRA differ from the regular retirement
application?
The MRA differs in that it has two advisory notifications. The
first explains that your requested retirement effective date is
not guaranteed. While every effort will be made to honor
your requested date, the changing nature of the ongoing public
health emergency impacts LACERS’ operational/processing capacity.
The secondary advisory relates to the use of an estimated
retirement allowance. LACERS, wherever possible, is implementing
measures to aid in expediting the retirement process. The use of
estimated retirement allowances will enable staff to set up
members for retirement but will require an audit review later,
which may result in a future adjustment to your retirement
allowance.
How do I file the Managed Retirement
Application?
You may submit your MRA by email to lacers.services@lacers.org,
or fax your application to (213) 473-7218.
What documentation should I provide along with my
MRA?
The required documents list can be found on here.
Does the normal 30 to 60 days filing period still
apply?
Yes, however, your LACERS’ counselor will notify you as to your
official retirement effective date; which may or may not be the
date you requested. LACERS will notify you of your official date.
What will be my employment status after my requested
retirement effective date passes?
If you are notified by LACERS that your requested retirement
effective date has been confirmed, then your status will be
retired. However, if LACERS has not confirmed your requested
retirement date or provided you with an official alternative
date, your employment status remains unchanged if you are an
active employee.You should continue to follow your department’s
reporting requirements and guidelines until you and your
department are notified of your official retirement date.
What if I want to amend or withdraw my managed retirement
application? Do the normal rules apply?
You will be able to request a new date by withdrawing your
application and reapplying with a new application and new
requested date.
What if I have questions about applying for retirement or
the retirement application?
You can direct your questions to lacers.services@lacers.org.
A counselor will respond via email or by phone. Please allow for
a minimum of three days for a response.
Can I still request an estimate for my retirement
benefit?
Yes, you have two options:
Log into your MyLACERS account and run an estimate from there. If
you do not have a MyLACERS account you can contact lacers.services@lacers.org
to request a PIN number.
You can also request an estimate through lacers.services@lacers.org
Will I be assigned a counselor to assist me with the
retirement process?
Yes, once your retirement effective date has been determined,
your retirement counselor will contact you by email and/or phone.
Additional counseling aides will also be available on the LACERS
website, LACERS.org.
What if I already have plans that I cannot change, or
have extenuating circumstances and need to retire on my requested
date?
LACERS must apply the Managed Retirement Policy to everyone.
However, you may attach a brief statement explaining your
situation. LACERS will review your circumstance but cannot
guarantee accommodating your request.
When I retire, am I automatically enrolled into a retiree
health plan?
Retiree health plans are separate from the City employee health
plans and enrollment is administered exclusively by LACERS.
If you wish to receive health coverage through LACERS as a
retiree, you will need to enroll in a LACERS medical and/or
dental plan when you retire. A LACERS Health Advocate will
contact you by phone or via email once your retirement effective
date has been scheduled.
During the retirement process, when do I need to submit
my LACERS health plan enrollment forms?
Enrollment in the retiree medical and dental plans is separate
from the service retirement process and can be started only after
your retirement documentation has been submitted. Separate
medical/dental enrollment forms and supporting documentation are
required.
NOTE: Failure to provide LACERS with
completed health enrollment forms or required supporting
documentation can result in delays in the commencement of retiree
medical/dental plans and in the retiree being charged for
premiums LACERS pays on their behalf for requested coverage.
When does my retiree medical/dental plan go into
effect?
Retiree medical and dental coverage goes into effect the first of
the month following your retirement effective date. Your
active City employee medical/dental coverage extends to the end
of the month of your retirement.
What happens to my medical/dental benefits if LACERS
pushes back my proposed retirement date?
City employees whose requested retirement date is pushed back by
LACERS due to workload limitations will remain on their active
City employee medical/dental plans until the end of the month of
their actual retirement effective date.
NOTE: Medical/dental enrollment forms are
valid for a maximum of 60 days; extensions beyond 60 days of the
signature date on the form will result in the need for the
retiree to submit new enrollment forms.
If I do not enroll in a LACERS health plan at the time of
retirement, will I be able to enroll later?
LACERS retirees have the opportunity to enroll in a LACERS
medical and/or dental plan every year during Open Enrollment,
which usually runs October 15 – November 15, with coverage taking
effect January 1 of the following year.
Also, if you experience a qualifying event outside of Open
Enrollment, you will be able to enroll in a LACERS health
plan. See the LACERS Health Benefits Guide
for more information.
Do I need to enroll in Medicare in order to participate
in a LACERS medical plan?
Retirees and/or their dependents who are eligible for Medicare
(soon-to-be turning 65, or 65 and over) are required to enroll in
and maintain Medicare in order to participate in a retiree
medical plan. Medicare Part B (e.g., doctor visits) is
required for all; Medicare Part A (hospitalization) is required
only if it is free to the retiree. LACERS requires proof of
Medicare enrollment (copy of Medicare card).
Failure to enroll in/maintain Medicare coverage may result in the
termination of the medical plan and the medical subsidy and the
retiree being held responsible for medical premiums LACERS has
paid on their/their dependent’s behalf.
Seminars
How do I register for a Seminar?
Visit YouTube to watch our Tier 1
Retirement Seminars.
Time (Sick, Vacation, etc.)
What happens to my SK/VC when I retire? Does LACERS pay me out?
LACERS is not involved with the disbursement of these benefits.
Sick, Vacation, or Holiday time payouts after retirement are paid
from the Controller’s Office. Questions regarding these benefits
should be directed to your department personnel.
Retirees
2020 Stock Market Volatility
How does the condition of the stock market affect my
retirement benefit?
Although the benefits are paid based on Member contributions, the
City contributions, and LACERS’ investments returns, your
retirement benefit is calculated based on a set formula:
Retirement Factor X Service Credit X Final Average
Compensation. Fluctuations in the stock market do not
impact the amount of monthly benefits you receive.
How does the condition of the stock market affect my
Larger Annuity account?
Fluctuations in the public investment markets do not impact the
payout amount of Larger Annuity monthly benefits you receive.
What happens if LACERS runs out of money?
It would be nearly impossible for LACERS to run out of money
since funding of the plan comes from 3 sources: required annual
contributions from the City, required bi-weekly contributions
from employees, and investment returns. Funding levels of
the plan on routinely monitored to ensure LACERS ability to
provide retirement benefits over the long term.
Historically, what happened with LACERS investments when
the stock market “crashed”?
The value of LACERS portfolio also declined, but less so than the
stock market. This is due to the portfolio diversification
across different types of investments such as stocks, bonds, and
real estate. In other words, LACERS does not put all of its
eggs in one basket. Diversification helps ensure that
sufficient assets are available to provide retirement benefits
over the long term.
Address Change
How do I change my address with
LACERS?
Visit Change
of Residence for more information.
Award Letter/Pension Verification
I am applying for a loan/housing and the company is
requesting verification of my pension or retirement account. What
should I do?
Please visit the Benefit
Verification Request page for more information about
requesting an Award Letter of your benefit.
Direct Deposit
How do I update my Direct Deposit account
information?
Please visit Your Benefit Payment
page for the Direct Deposit Authorization form, and for more
information.
Early Retirement Incentive Program (ERIP)
What is the total number of ERIP participants?
There are 2,400 ERIP participants.
What is the ERIP Cost Obligation?
The ERIP Cost Obligation is the full cost of ERIP as defined in
the Los Angeles Administrative Code section 4.1033 (“ERIP
Ordinance”). The
ERIP Ordinance states that the ERIP Cost Obligation is the
obligation of LACERS Members, and that the City and Unions
envisioned ERIP to be cost-neutral to the City.
How was the ERIP Cost Obligation determined?
The preliminary ERIP Cost Obligation was determined by
an enrollment actuary engaged by the City, pursuant to
requirements of the Los Angeles City Charter section 1168 (b),
which specifies that the City Council must be advised in writing
of the cost of benefit increases prior to adoption of an
ordinance to change the LACERS benefit(s).
The City’s Consulting Actuary provided cost estimates of ERIP
based on various scenarios projecting “take” rates of eligible
employees. Preliminary projected costs ranged from $250
million to retire 2,229 employees, up to $354 million to retire
2,763. The ERIP Ordinance adopted a preliminary cost of
$271M to retire 2,400 employees.
However, based on the LACERS actuarial valuation report of June
30, 2009 (revised April 22, 2010), the unfunded actuarial accrued
liability increased by $355 million when factoring in nearly all
ERIP retirees (2,393 of the 2,400 ERIP retirees were finalized at
the time of the report).
What is the time period by which the ERIP Cost Obligation
should be paid?
According to the ERIP Ordinance, the employee contributions
toward the ERIP Cost Obligation begin on July 1, 2011 and end on
June 30, 2026 (a 15-year period), or until the ERIP Cost
Obligation is fully paid, whichever comes first.
How much money to date, has been paid by LACERS’ Active
and Retired Members toward paying off the ERIP Cost
Obligation?
As of March 31, 2020, over $202.6 million has been paid
toward the $355 million ERIP Cost Obligation. The pace of
contributions toward ERIP are expected to decline slightly as the
number of active Tier 1 Members retire. New LACERS Members
joining the City, currently enter under Tier 3 Membership and do
not contribute to ERIP.
Health Plan Changes (Medical and Dental)
When can I make changes to my Medical or Dental
plan?
Please visit Health Enrollment page for information about Open
Enrollment, and other qualifying events where you may
ID Cards (Medical and Dental)
I haven’t received my new Medical/Dental ID card. Who do
I contact?
ID Cards are issued by the insurance carrier. Please refer to the
last page/back cover of the Health Benefits Guide for each
carrier’s contact phone number.
The Health Benefits Guide is
located on this page.
Medicare
I will be turning 65. What do I need to do?
Members and dependents who turn 65 will need to contact the
Social Security Administration to enroll in Medicare, then
fill out and submit the appropriate Senior Plan Enrollment form
and a copy of the Medicare card. Please visit the
Retirees Medicare Information page for additional details.
Taxes
Do I still receive a W-2 Tax form after
retirement?
LACERS Members receive a 1099-R for their retirement payments
received for the year.
I did not receive my Tax form for the year. How can I
obtain a copy?
Login to your MyLACERS
Account to view and print a copy of your 1099-R tax forms, or
contact LACERS Member Service Center at (800) 779-8328 to request
one mailed to your address on file.
How do I change my Tax Withholding?
Visit this page
for more information on changing your tax withholding.
Do I have to pay taxes on my retirement
allowance?
Your retirement income is taxable. LACERS Members have
contributed to the plan on a pre-tax basis since 1986.
Any contributions prior to 1986 were taxed, so any
portion of your allowance that is based on pre-1986
contributions will not be subject to taxes.
MyLACERS
How do I create my MyLACERS Account?
MyLACERS enrollment requires that a PIN be sent to the Member’s
mailing address on file in order to create the account. You can
request a new PIN at the following link https://mylacers.lacers.org/RequestPIN.aspx.
The PIN letter will include step-by-step instructions on creating
your account, and should be received in 3-5 business days. Once
you receive your PIN, for further assistance with accessing your
MyLACERS Account, please contact LACERS Member Service Center at
(800) 779-8328.
How can I reset my MyLACERS password or challenge questions?
For assistance with accessing your MyLACERS Account, please
contact LACERS Member Service Center at (800) 779-8328. Once
your identity is verified, our staff will be able to assist a
password reset, or security challenge questions reset.
I received an email about an Unrecognized Device accessing my
Account. What do I do?
Any time you access your MyLACERS Account from a new device or
location, you will be prompted to enter your Challenge Questions
to access the account. This will also trigger an email to notify
you that your account has been logged in using a new device.
If you do not recall accessing the account on the date and time
you received the email, you may wish to reset your password to
secure your account, otherwise you may disregard the email.
Two-Factor Authentication
What is two-factor authentication?
Two-factor authentication is when a user is required to provide a
second means of proving they are who they claim to be. The
first authentication is the password used to login with a
username. The second authentication, such as an email or
SMS message code, provides an additional layer of security to the
account.
