Members who participate in Direct Deposit have their retirement
allowance funds deposited with their selected financial
institution on the last day of the month.
To have your monthly retirement allowance deposited directly into
your bank account by the end of each month, fill out the
Direct Deposit Authorization form and return it to LACERS.
We recommend Direct Deposit for the following reasons:
Convenience – Your money is automatically
deposited into your account. No more having to go to the bank
or stand in line to deposit your money.
Reliability – Your money will always be in the
account you specify, even if you are out of town or ill. You
may have your money deposited into any financial institution
throughout the United States and Puerto Rico, whether it’s a
bank, credit union or financial brokerage firm.
Safety – Unlike a paper check, it will never
be lost, stolen, destroyed, or forged.