Your Benefit Payment

Payment & Schedule

Overview

Payment Schedule

2020 Check Mailed Direct Deposit
January Jan. 24 Jan. 31
February Feb. 24 Feb. 29
March March 25 March 31
April April 24 April 30
May May 22 May 31
June June 24 June 30
July July 27 July 31
August Aug. 25 Aug. 31
September Sept. 24 Sept. 30
October Oct. 26 Oct. 31
November Nov. 23 Nov. 30
December Dec. 24 Dec. 31

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Disbursement Methods

Overview

Disbursement Methods

In retirement, you will receive your retirement allowance once a month on the last day of the month. You may choose one of the following options for the delivery of your retirement allowance:

Direct Deposit

Your retirement allowance will be deposited into the account at the financial institution you designate on the last day of the month.

Since the direct deposit program became available more than a decade ago, enrollees have always received their monthly retirement allowances on time.

To choose this option, complete and submit the Direct Deposit Authorization form and return it to LACERS.  

Paper Checks

Your retirement allowance will be issued as a paper check and mailed to the address on file to arrive by the last day of the month. However, there may be unforeseeable postal delivery delays, such as adverse weather conditions or natural disasters that will affect the actual delivery date of your check.

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Cost of Living Adjustments (COLA)

Overview

Cost of Living Adjustments (COLA)

Cost of Living Adjustments (COLA)

Each year the LACERS Board approves Cost-of-Living Adjustments (COLAs)for Tier 1 and Tier 3 retired members and beneficiaries based on the Consumer Price Index (CPI) for the Los Angeles area. The COLA becomes effective July 1st of each year.

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Benefit Verification Requests

Overview

Benefit Verification Requests

You may request a benefit verification letter (also known as an “Award Letter”) by completing the Verification of Pension Request Form and submitting it to our office in person, by fax or email.

The Award Letter is printed on LACERS letterhead, addressed to the Member, and includes the Member’s name, address, retirement date, and the gross monthly allowance amount. The processing time is up to three business days from the date LACERS receives the request.

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1099-R Form

Overview

1099-R Form

LACERS 1099-Rs HAVE BEEN MAILED

LACERS has completed its mailing of 1099-R tax documents to retirees and beneficiaries for the 2019 tax year. Please note that 1099-Rs are only sent to the address on file with LACERS.

If you have recently moved or changed your address, update it with LACERS as soon as possible by submitting a Change of Address form.

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