LACERS Active 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.

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 ACTIVE MEMBER 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.

MYLACERS ACCOUNT

Have you created your profile on the LACERS Member Portal? MyLACERS is your online gateway to real-time details about your retirement account. You can generate a member statement, register for upcoming webinars and events, or create a benefit estimate for a future retirement date. Request a PIN letter today! Don't know how…watch this two-minute video.

PIN letters will be mailed to the address on file with the City. Please be sure your address is updated.

BENEFICIARIES

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 before retirement.

You can view your current designations via your MyLACERS account. To update them, submit a new Designation of Beneficiary Form. Designated beneficiaries remain in effect until you change them.

ATTEND A PLANNING FOR RETIREMENT SEMINAR

New to the City, mid-career, or close to retirement? Attend a seminar to understand all the components of your retirement benefits and eligibility. Seminars are held several days a month, including Saturdays. View the schedule on our calendar and register on MyLACERS.

SERVICE CREDIT PURCHASES

Did you work part-time for the City of Los Angeles or full-time for another government agency? If so, you may be eligible to purchase Service Credit, which may count toward your retirement eligibility and increase your retirement allowance and health subsidy.

For additional information on making a service purchase for a re-deposit, back contributions, public service buyback, or a government service buyback, please view the Service Purchase video or speak to a Buyback Representative at LACERS.

SUPPLEMENTING YOUR RETIREMENT

Your LACERS retirement allowance should be considered the foundation of your retirement financial planning. However, your LACERS benefit alone may or may not cover your expenses in retirement.

To supplement your LACERS retirement allowance, you may want to consider the LACERS Larger Annuity Program and the Personnel Department's Deferred Compensation Program. These are voluntary programs that could help bridge an income gap in retirement.

TAKE THE LACERS FAMILY DEATH BENEFIT PLAN SURVEY

LACERS wants to measure our Members awareness of the optional Family Death Benefit Plan (FDBP). Please take our brief survey. Your participation is appreciated!

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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