The Larger Annuity Program (LAP) is an optional retirement investment account administered by LACERS that allows you to invest post-tax funds toward your retirement. You can start with as little a five dollars a pay period or provide a lump sum payment and you may terminate participation at any time.
At the time of retirement, you can either withdraw the funds and interest from the LAP or convert them into a monthly benefit to supplement your retirement allowance. A three percent increase will be applied for every full year.
There are two options for investment that you may select from:
Earn interest based on the average five-year Treasury Note. This is the same rate paid for your retirement contributions.
Earn returns based on the LACERS rate of return for the publicly-traded portion of the LACERS investment portfolio.
Before investing, please consult with your financial advisor. Interest rates and investment returns will fluctuate and may be positive or negative. There is no guarantee against future negative performance on investment returns.
The table below details the annualized LAP returns for both options.