April 2024 Paycheck Flyer

Paycheck Flyer
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@LACERSOFFICIAL IS THE NEW NAME OF THE LACERS YOUTUBE CHANNEL

New name, but same great source for information about your LACERS benefits and helpful wellness content. The LACERS channel is now verified on YouTube, which means it is officially recognized as a credible source for LACERS content as a recognized public entity. Visit the channel at its new web address: youtube.com/@lacersofficial to subscribe and join over 2,000 other Members who are notified when new content is posted!

COST OF LIVING ADJUSTMENT EFFECTIVE JULY 1

The LACERS Board of Administration has approved the maximum allowable Cost-of-Living Adjustment (COLA) for eligible LACERS Retired Members and Beneficiaries at 3.0% for Tier 1 and Tier 1 Enhanced Members and 2.0% for Tier 3 Members. Tier 1 and Tier 1 Enhanced Members are City employees who became LACERS Members on or before February 20, 2016. Tier 3 Members are City employees who became LACERS Members on or after February 21, 2016.

The COLA is based on the Consumer Price Index (CPI) for the Los Angeles area, which has been determined to be 3.5% for 2024. The maximum COLA is set by the City of Los Angeles Administrative Code at 3.0% for Tier 1 and Tier 1 Enhanced Members and is set at 2.0% for Tier 3 Members. Tier 1 Retirees who have been retired for a full year or more will receive a 3.0% increase. The remaining .5% will be banked and applied in the future when the COLA is less than 3.0%. According to LAAC § 4.1080.17, the Tier 3 COLA benefit is capped at 2.0%, and there is no banked benefit. Therefore, Tier 3 retirees will receive a COLA of 2.0%.

All Tier 1 and Tier 1 Enhanced Members who retired after June 30, 2023, will receive a COLA of 1/12th of the 3.0% for each full month of retirement completed by June 30, 2024. Similarly, all Tier 3 Members who retired after June 30, 2023, will receive a COLA of 1/12th of the 2.0% for each full month completed by June 30, 2024. The COLA will be included in all eligible Retired Members’ and Beneficiaries’ July 31, 2024, check or direct deposit.

CELEBRATING OLDER AMERICANS’ MONTH

Did you know that May is Older Americans Month? The Administration for Community Living spearheads the celebration each year with programming to mark the strength, resilience, and unique life journeys of Older Americans. As seen through the turbulence we’ve all experienced together during these past few years, connecting with others in our community is important. To highlight community connectedness, the theme this year is “Powered by Connection.” Celebrate Older Americans Month and explore ways to get and stay socially connected. For more information, visit acl.gov/oam. 

JOIN US FOR LACERS WELL UPCOMING WEBINARS

Have you attended a LACERS Well Virtual class or webinar? Attend one of our events for the first time and let us know at the start of the class or webinar to be entered into an opportunity drawing for a $25 gift card!

Register for these events through your MyLACERS account or by calling LACERS at (800) 779-8328. You may also email us at lacerswell@lacers.org.

  • Aging Well Group Discussion Webinar – Exercise, Yoga, & Fitness Programs: Wednesday, May 1 at 2:30 p.m.
     
  • Mom’s Computer Technology Webinar: Wednesday, May 8 at 2:00 p.m.
     
  • Kaiser Well-being Webinar – DASH Meal Plan: Tuesday, May 14 at 10:00 a.m. (Kaiser membership not required to attend this webinar)
     
  • Fitness Made Simple – Exercise Webinar: Wednesday, May 15 at 9:30 a.m.
     
  • Coping with Loss, Isolation, & Grief Webinar: Wednesday, May 15 at 2:30 p.m.
     
  • Anthem Benefit Webinar Series – Mental Health Awareness: Wednesday, May 22 at 10:00 a.m.  
     
  • Brain Health Webinar – Lost Memories Season 2 – Retirees & Active Members: Wednesday, May 22 at 2:00 p.m.
     
  • County of L.A. Wellness Webinar w/ Dr. Fakhrabadi – Financial Scams: Wednesday, May 29 at 10:00 a.m.

For a full list of LACERS Well events, and LACERS Well Champion-led activities, please visit lacers.org/lacers-well-events.  

Have you Missed past LACERS Well events? We have event and seminar recordings on various topics – finances, emotional wellness, fitness, and more! Visit the LACERS YouTube channel at youtube.com/@lacersofficial, and be sure to hit the subscribe button to receive alerts of newly posted videos.

 As a covered entity under Title II of the Americans with Disabilities Act, the City of Los Angeles does not discriminate on the basis of disability and, upon request, will provide reasonable accommodations to ensure equal access to its programs, services, and activities. 

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