Learn more about your retirement options when leaving City service
Retirement Benefits, Mandatory Furloughs and
ERIP Update - September 18, 2009
On September 18, 2009 the City Council met and approved the substitute ordinance for the ERIP. The adoption of the ERIP is not yet final. It still requires ratification by organizations (bargaining units) representing a majority of the members in the Los Angeles City Employees' Retirement System and a second reading by City Council at least 30 days after the first reading before the proposal is presented to the Mayor for his approval. The ERIP benefits would take effect upon publication of the ordinance and the 45-day window for ERIP will then open. For more information, please see the proposed ERIP ordinance located - here and/or contact your union.
LACERS Sets New Record for Retirements in One Month and Is Ready for More! - September 4, 2009
In August, we recorded our busiest month of retirements ever with 128 members retiring! In a typical year, we retire about 500 members, so we successfully retired more than 25% of the members we typically retire in a year in just one month!
Ever since rumors of a retirement incentive program surfaced, LACERS has been planning for the possibility of processing a large number of retirements over a short period of time. As a result of the proposed Council motion that passed on June 26th that would allow eligible members to retire now and receive the benefits under the ERIP, if it is approved by Council, we have begun to implement our plan. This plan includes:
LACERS staff also has been working behind the scenes to coordinate meetings with other City departments to discuss communications issues relating to the ERIP and coordinated the working group that crafted the draft ERIP ordinance that Council will be considering. We also will be unveiling an ERIP seminar to assist you in understanding how to navigate through the ERIP enrollment and retirement processes.
We will continue to plan and implement strategies to meet your needs and provide you with excellent customer service. Please don't hesitate to contact us with your ideas regarding how we can better serve you.
NEWS - LACERS and the ERIP - August 6, 2009
LACERS does not determine member benefits. All benefits and benefit enhancements, such as the ERIP, are negotiated between the Plan Sponsor (City of Los Angeles ), Office of the City Administrative Officer (CAO) and bargaining units. LACERS does not negotiate benefits, but administers the benefits that have been approved by City Council.
Regarding the benefit changes proposed in the ERIP, the City decides what level of benefits it chooses to afford to pay. LACERS' Board of Administration determines the amortization period in which the City must pay LACERS for the additional costs associated with the benefit changes.
On August 6, 2009, the LACERS Board of Administration approved the formation of an ad hoc committee to consider the amortization period for the proposed ERIP. The committee will make a recommendation to the Board at a future meeting. Regardless of the amortization period approved by the LACERS Board, it is at the City Council's discretion to approve or reject the ERIP.
If you have questions or suggestions related to proposed ERIP benefits, please contact the Employee Relations Division of the CAO, City Council, or the Mayor's Office.
For updates on LACERS activities, including the ERIP amortization period, visit LACERS' web site regularly.
If you would like to receive notification of upcoming City Council or LACERS Board meetings, you may subscribe to the City's Early Notification System at http://parc3.lacity.org/ens/index.cfm.
A Message about the Retirement Incentive Program from Sally Choi, LACERS General Manager
Dear LACERS Member:
At LACERS, we pride ourselves in providing the best customer service possible to our Members. Many of you have contacted us with questions regarding the Retirement Incentive Program currently being negotiated between the City of Los Angeles and labor unions.
Like you, we are still awaiting answers to questions. We are not involved in the negotiations, although from time to time we provide subject matter expertise upon request. We do not know at this time what the final terms of the Retirement Incentive Program will be, when exactly it will take effect, and who it will impact. However, I can tell you that as soon as we have any information, we will share it with you so that you can process your retirement and plan for your future. Read more
Retirement Benefits - What You Need to Know Now
If you receive a layoff notice, and you are eligible to retire, you must:
If you are considering buying back time to become eligible for a Service or Deferred Service Retirement, you must:
If you need more information before making a decision about your retirement: