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Tier 3 Benefits Chart



If you became a LACERS Member on or after February 21, 2016, you are a Tier 3 Member.  Listed below is a chart outlining retirement and health benefit eligibility, contribution requirements, and benefits available to
Tier 3 Members.  If you were hired on or before February 20, 2016, you are a Tier 1 Member (including former Tier 2 Members) and may click here to view Tier 1 information.  


Features Tier 3
RETIREMENT INFORMATION
Type of Plan Defined benefit plan eligible Members hired on or after February 21, 2016.
Member Contribution Rate Members contribute at a rate of 11%.
Note: No part of the Members’ contribution is attributable to the ERIP obligations.
City (Employer)
Contribution Rate

Actuarially defined based on active Member payroll.


Click here for complete chart



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Important Information Regarding Your Retirement Benefits and Optional Investment and Savings Plans
The City of Los Angeles and LACERS offer supplemental retirement, investment, and benefit programs that are designed to increase your income during your retirement and/or to protect your family in the event of your death.  Listed below are options you may want to explore as part of your retirement planning:
Deferred Compensation Plan – Advantages and Benefits of Saving for Retirement Now
The City of Los Angeles Deferred Compensation Plan provides a way to complement your City retirement/pension benefit. The Deferred Compensation Plan has a great new planning tool on its web site (https://cityofla457.gwrs.com/login.do) to help you understand how the funds you can expect in retirement compare with what you make today. You can access this tool by logging into your Deferred Compensation Plan account or working with a local Plan representative. Local representatives are available at City Hall, Room 867, Monday through Friday from 8:00 a.m. to 4:00 p.m., and by phone at (213) 978-1601.
Larger Annuity Program
The Larger Annuity Program is an optional retirement or investment account that allows you to invest more money toward your retirement in order to increase your retirement income. To learn more, click here.
Family Death Benefit Plan
The Family Death Benefit Plan (FDBP) is a voluntary insurance program that provides a monthly financial benefit that may give your family increased financial protection should you die before retiring. An employee becomes eligible for membership in the Plan after 18 months of City service. For more information, click here.





Publications/Forms

SPD Tier 3
Click here for the Summary Plan Description to learn more about your retirement benefits. 
Deferred Compensation Plan

Deferred Comp
To learn more about the advantages and benefits of saving for retirement through the City's Deferred Compensation Plan, click here.



 

 

 

 

 

 



MyLACERS

MyLACERS MyLACERS is a web member service that lets Members view account information 24/7. Active Members can see contributions on account, designated beneficiaries and contact information. Retired Members can view past 1099R statements, current payment statements, designated beneficiaries, current deductions and health deduction information. It's easy, fast and very informative!

Retirement Formula for Tier 3 Members Who Meet Eligibility Requirements

Benefit CalculatorNormal Retirement:
Age 60 or older and 10 years of Service (5 years must be continuous Service)

  • 1.5% X 36-month final average compensation X years of Service Credit

Age 60 or older and 30 years of Service (5 years must be continuous Service)

  • 2% X 36-month final average compensation X years of Service Credit

Enhanced and Early Retirement options are available.  See Tier 3 Benefits Chart at top of page.

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Tier 3 Eligibility for LACERS Health Benefits

Members must be at least age 55, be receiving a Monthly Allowance or Continuance from LACERS, and have at least 10 years of Service.  Subsidy amounts are determined by years of Service Credit.

If under age 65 or age 65+ and enrolled in Medicare Part B only

      • Members with 10 years of City Service and 1 – 10 years of Service Credit will be eligible to receive 40% of the maximum medical and dental plan premium subsidies.  Members with Service Credit greater than 10 years will earn additional subsidy amounts.

If age 65+ and enrolled in both Medicare Parts A and B

      • Members with 10 years of City Service and 1 – 14 years of Service Credit will be eligible to receive 75% of the maximum medical plan premium subsidy. Members with 10 years of Service and 1 – 10 years of Service Credit will be eligible to receive 40% of the maximum dental plan premium subsidy.  Members with Service Credit greater than 14 years of Service Credit will earn additional medical subsidy amounts. Members with Service Credit greater than 10 years will earn additional dental subsidy amounts.

For more information about LACERS health subsidies, health plans, and health plan premiums, click here.