LACERS Active Members Update for September
DISCOVER YOUR LACERS RETIREMENT BENEFITS
We are officially changing the name of our Planning for Retirement Seminars to Retirement Benefit Seminars. This is because planning for retirement is something that all City employees should learn about well before they are eligible to retire.
These seminars contain newly structured content that is designed to make learning about your retirement benefits engaging and straightforward. So whether you’re curious about saving more money towards retirement while working, learning about retirement eligibility, or how Medicare works while retired, our benefits seminars have you covered. Plus, all attendees will now receive a certificate of attendance upon request.
Our LACERS calendar contains a complete listing of all upcoming in-person and virtual Retirement Benefit Seminars. Once you’ve decided on a date to attend, simply register via MyLACERS or call us at (800) 779-8328. We look forward to seeing you at a webinar or seminar soon!
WHEN AND HOW TO CANCEL THE FAMILY DEATH BENEFIT PLAN (FDBP)
As LACERS Members near retirement, one voluntary program they should consider canceling is the Family Death Benefit Plan (FDBP). Often, employees elect to participate in the FDBP plan early in their City career due to having a young family or dependent parent and/or not qualifying for other survivorship benefits due to insufficient service credit. As Members progress in their careers, these criteria may not exist, and canceling the FDBP should be considered.
Furthermore, although Members may be eligible for additional benefits depending on their years of service credit, FDBP cannot be paid in conjunction with a Service Retirement Survivorship or Deferred Service Retirement Survivorship.
When to Cancel?
Members should cancel FDBP when they:
- No longer have young children and/or dependent parents; and,
- Qualify for either a Service Retirement Survivorship or Deferred Service Retirement Survivorship.
How to Cancel?
Cancelling is easy. Simply review and complete this FDBP Cancellation Form and return it to LACERS. If you are not sure if you should cancel FDBP, please call (800) 779-8328, and we will assist you.
UPCOMING BOARD OF ADMINISTRATION MEETING
The next meeting is Tuesday, September 24, at 10:00 a.m. For more information, visit our Agendas and Minutes webpage.
*ADA Statement: Sign Language Interpreters, Communications Access Real-Time Transcription, Assisted Listening Devices, or other auxiliary aids and services may be provided upon request. To ensure availability, you are advised to make your request at least 72 hours before the meeting you wish to attend. Due to difficulties securing Sign Language Interpreters, notice is strongly recommended for five or more business days. For additional information, please contact (800) 779-8328 or RTT (888) 349-3996.