Retirement Benefit Eligibility
After completing five (5) years of continuous City service, members become vested and eligible to receive retirement benefits. However, to retire you must also meet the criteria found in the tables below.
Part-time employees should contact LACERS for retirement benefit eligibility information which is not included here.
Eligibility Tables – Full Time Members
Tier 1 Full Time Active Members – Normal Retirement
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 70 | Any | Any | Any | No | 2.16% |
| 60 | 10 | 10 | Any | No | 2.16% |
| 55 | 5 | 30 | Any | No | 2.16% |
Tier 1 Active Members – Early Retirement
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 55 | 10 | 10 | Any | Yes | 2.16% |
| Any | 5 | 30 | Any | Yes | 2.16% |
Tier 3 Active Members – Enhanced Retirement (Age 63)
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 63 | 5 | 30 | Any | No | 2.10% |
| 63 | 5 | 10 | Any | No | 2.00% |
Tier 3 Active Members – Normal Retirement (Age 60)
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 60 | 5 | 10 | Any | No | 1.50% |
| 60 | 5 | 30 | Any | No | 2.00% |
Tier 3 Active Members – Early Retirement (Prior to Age 60)
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| <55 | 5 | 30 | Any | Yes | 2.00% |
| 55 | 5 | 30 | Any | No | 2.00% |
Tier 1E Airport Peace Officers – Normal Retirement
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 70 | Any | Any | Any | No | 2.30% |
| 60 | 10 | 10 | Any | No | 2.30% |
| 55 | 5 | 30 | Any | No | 2.30% |
Tier 1E Airport Peace Officers –Early Retirement
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 55 | 10 | 10 | Any | Yes | 2.30% |
| Any | 5 | 30 | Any | Yes | 2.30% |
Tier 1 Deferred Vested – Normal Retirement
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 70 | 5 | 5 | Any | No | 2.16% |
| 60 | 5 | 5 | 10 | No | 2.16% |
| 55 | 5 | 30 | 10 | No | 2.16% |
Tier 1 Deferred Vested – Early Retirement
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 55 | 5 | 5 | 10 | Yes | 2.16% |
Tier 1E Deferred Vested Airport Peace Officers – Normal Retirement
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 70 | 5 | 5 | Any | No | 2.30% |
| 60 | 5 | 5 | 10 | No | 2.30% |
| 55 | 5 | 30 | 10 | No | 2.30% |
Tier 1E Deferred Vested Airport Peace Officers – Early Retirement
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 55 | 5 | 5 | 10 | Yes | 2.30% |
Tier 3 Deferred Vested – Normal Retirement
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 70 | 5 | Any | Any | No | 1.50% |
| 63 | 30 | 30 | 10 | No | 2.10% |
| 63 | 5 | 10 | Any | No |
2.00% |
| 60 | 30 | Any | 10 | No | 2.00% |
| 60 | 5 | Any | 10 | No | 1.50% |
Tier 3 Deferred Vested – Early Retirement
| Age | Continuous Service | City Service | Years from Membership | Early Reduction | Retirement Factor |
|---|---|---|---|---|---|
| 55 | 5 | 5 | 10 | Yes | 1.50% |
Benefit Calculation Formula
To calculate your estimated retirement benefit you will need the following components from the corresponding table above:
- Retirement Factor: (see table above)
- Final Compensation – Your highest compensation earnable during any consecutive 12 month period.
- Service Credit – Accounts for the hours you’ve worked as an Active LACERS Member (displayed as years). Full-time employees receive 0.03835 years of Service Credit per pay period.
- Early Reduction Factor -The reduction factor used to calculate your benefit when selecting to retire early.
Tier 1 and Tier 1 Enhanced Benefit Formula
Normal Retirement
12-month Final Compensation X Years of Service Credit X Retirement Factor = Monthly Retirement Allowance
Early Retirement
12-month Final Compensation X Years of Service Credit X Retirement Factor X Early Retirement Factor = Monthly Retirement Allowance
Tier 3 Benefit Formula
Normal Retirement
36-month Final Compensation X Years of Service Credit X Retirement Factor = Monthly Retirement Allowance
Early Retirement
36-month Final Compensation X Years of Service Credit X Retirement Factor X Early Retirement Factor = Monthly Retirement Allowance
Disability Eligibility
Disability Criteria
If you become disabled while an active Member, you may be eligible for a Disability Retirement. There is no age requirement and the disabling condition(s) need not be duty related; however, the disabling condition must prevent you from performing your regular job duties.
Application Requirements
You become eligible to apply for a Disability Retirement after you have five or more years of Continuous Service (City employment and/or full reciprocal service). You must file your Disability Retirement application with LACERS within 12 months of your last day on the City payroll or within 12 months of the final settlement date for a related Workers’ Compensation claim. If you do not apply in time, you lose your eligibility for this benefit.
Benefit Amount
A Disability Retirement benefit is generally paid as one-third of your Final Average Monthly Compensation and is a taxable benefit.