Members who participate in Direct Deposit have their retirement allowance funds deposited with their selected financial institution on the last day of the month.

To have your monthly retirement allowance deposited directly into your bank account by the end of each month, fill out the Direct Deposit Authorization form and return it to LACERS.

We recommend Direct Deposit for the following reasons:

• Convenience – Your money is automatically deposited into your account. No more having to go to the bank or stand in line to deposit your money.
• Reliability – Your money will always be in the account you specify, even if you are out of town or ill. You may have your money deposited into any financial institution throughout the United States and Puerto Rico, whether it’s a bank, credit union or financial brokerage firm.
• Safety – Unlike a paper check, it will never be lost, stolen, destroyed, or forged.