LACERS Retired Members Update for July

LACERS BOARD OF ADMINISTRATION UPDATES

Annie Chao Elected Board President

The City Clerk has tallied the ballots for the Elected Employee Member of the Board of Administration for the term ending June 30, 2029, and has certified that Annie Chao received the most votes.

Board Vice President Janna Sidley Reappointed

Mayor Karen Bass reappointed Janna Sidley to the board for the term ending June 30, 2029. Mayor Eric Garcetti originally appointed her on July 1, 2022.

RETIRED MEMBER PAYSTUBS TO BE MAILED AS USUAL

On July 22, 2024, a system-generated email informing Retired Members and Beneficiaries about their July direct deposit was sent out as part of Beta testing of new functionality. All Retired Members and Beneficiaries will still receive a hard copy of their paystubs in the mail at the end of July. If you have any questions, please contact our Member Service Center at [email protected] or (800) 779-8328.

LACERS' 2024 STRATEGIC PLAN IS NOW AVAILABLE

LACERS is proud to announce that our new Strategic Plan is now available! This plan serves as a roadmap for the organization, outlining our mission, vision, and goals for the coming years. We encourage all Members to review the plan and familiarize themselves with our future direction. See the plan here.

LACERS RETIRED MEMBERS CHECK-UP 2024

Now's the perfect time to do a mid-year check-up on your LACERS benefits. Below are items to check off your list.

KEEP YOUR BENEFICIARIES CURRENT

Make it a habit to review your designated beneficiaries on file with LACERS annually so that your benefits are paid out as intended if you pass away.

You can view your current designations via your MyLACERS account. and make changes by submitting a new Designation of Beneficiary Form.

DESIGNATE A POWER OF ATTORNEY

What if you experienced an illness, an accident, or another life-changing event that left you unable to sign your own documents or make decisions? Whom would you want to step in and handle your affairs?

A Power of Attorney (POA) is a legal document that allows you to designate someone to act on your behalf when you are unable to do so yourself. LACERS has a special Durable Power of Attorney, which allows you to designate someone to manage your LACERS pension. Safeguard your interests and complete the form today.

SIGN UP FOR DIRECT DEPOSIT

Don't wait for the mail. Sign up to receive your monthly allowance by direct deposit. You can sign up and change the account on file with LACERS by completing a Direct Deposit Authorization Form found on our website.

LACERS MEDICARE REQUIREMENT

Retirees and their eligible dependents are required to be enrolled in Medicare Part B at age 65 to qualify for a LACERS medical plan premium subsidy and be eligible for coverage in a LACERS-sponsored medical benefit plan. Medicare Part A is only required if it is free to the Retiree. Take time to learn more about our Medicare requirement.

UPCOMING BOARD OF ADMINISTRATION MEETING

The next meeting will be on Tuesday, August 6, at 10:00 a.m. Visit our Agendas and Minutes webpage for more information.

*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.

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