Active Member
Any Member of LACERS who is an employee of the City of
Los Angeles, including employees on leave without pay
status.
Beneficiary
Any person or legal entity entitled to receive a benefit provided
by LACERS.
City Service
Those periods during which you were a Member of LACERS and 1)
received compensation from the City as an employee or 2) received
temporary disability Workers’ Compensation benefits, and also
paid contributions to the LACERS.
Continuance Benefit
A lifetime monthly survivor
benefit provided to a qualified beneficiary as the result of
the death of a Retired Member.
A lifetime monthly benefit provided to a qualified beneficiary as
the result of the death of a Retired Member.
Continuous City Service
A sum of your uninterrupted City Service (with no break in
service of more than 3 years). The service may be a combination
of City employment service and governmental service purchased.
Early Reduction Factor
A reduction that is applied in the process of
calculating your retirement allowance when you meet the
criteria for a Early Retirement. The
reduction factor is based on your age and the chart can be found
in the Summary Plan
Description for your Tier.
Full Reciprocity
Will only apply if you have reciprocal rights with another State
reciprocal system established for a switch in employment between
the two systems resulting in reciprocity service at LACERS
beginning on or after July 14, 1997. Only Full Reciprocity
service may be used for eligibility.
Health Service Credit
Accounts for the hours you have worked as an Active LACERS Member
to qualify for health benefits. A minimum of 10 years of Service
is required to become eligible for a health subsidy as a Retired
Member.
Health Benefits
Health Subsidy
A monthly dollar credit applied to the cost of a Retired
Member’s medical plan premium. The premium is the
monthly cost of insurance coverage for a LACERS Retired Member
and any dependents.
Health Benefits
Limited Pension Benefit
A monthly benefit provided to your spouse/domestic partner that
is equal to one-half of your average monthly salary in the year
before your death. Your spouse/domestic partner may receive up to
a maximum of 12 payments dependent on the number of whole years
you worked. If you leave no such survivor, this benefit will be
paid to your minor children or, if none, to your dependent
parent(s).
Membership Date
The original date when you first
became a Member of LACERS. This may also be the first date you
became a member of the Water & Power Employees Retirement Plan if
the funds associated with the membership are on deposit at
LACERS.
Refund of Contributions
A refund of your contributions and interest that is on deposit
with LACERS. To request a refund, complete the Distribution Election
Form.
Retirement Allowance
Your lifetime monthly monetary benefit that is determined by your
Final Compensation multiplied by your Service Credit multiplied
by the Retirement Factor. An additional Early Reduction
Factor may also be applied if selecting an Early Retirement.
Senior Plan (Health Benefits)
A medical insurance plan that coordinates with Medicare.
Service Credit
The component of your benefit calculation based on your hours
worked. Full-time employees receive 0.03835 years of Service
Credit per pay period. The Service Credit for part-time employees
will be prorated for each pay period based on the actual hours
worked divided by 80 hours.
Survivorship - Disability Retirement
This option allows your eligible spouse/domestic partner to
receive a monthly benefit for his/her lifetime generally in the
amount of one-third of your final compensation regardless of your
eligibility to retire. Your spouse/domestic partner must be
eligible to receive all of your contributions to be eligible for
this benefit.
Survivorship - Service Retirement
Member Eligible to Retire at Time of Death
If you are eligible for a Service Retirement on the date of your
death, this option allows your spouse/domestic partner to receive
a monthly lifetime benefit based on your retirement eligibility.
If you do not have an eligible spouse/domestic partner, it may be
paid to your minor children or, if none, to your dependent
parent(s), provided they are eligible to receive all of your
contributions.
Member Not Eligible to Retire at Time of Death
If you are not eligible for a Service Retirement on the date of
your death, your spouse/domestic partner may elect to wait and
receive the monthly lifetime benefit you would have been eligible
for a Service Retirement. Your survivor would not begin receiving
this monthly benefit until your earliest retirement date, but
would then receive this allowance for the remainder of his/her
lifetime. Your spouse/domestic partner must be eligible to
receive all of your contributions to be eligible for this
benefit.
Restrictions
With either of the above mentioned options, your surviving
spouse/domestic partner, minor children, and/or dependent
parent(s) will not be entitled to a Limited Pension or to
benefits under LACERS Family Death Benefit Plan.
