Retirement Benefit Eligibility

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Retirement Benefit Eligibility

Members become vested and eligible to receive retirement benefits after they have completed five (5) years of continuous City service. 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 as it 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.

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