30-YEAR
CANCELLATION OF MEMBER CONTRIBUTIONS
If you have 30 years of service with LACERA, you may be eligible
for cancellation of your member contributions. If eligible, your
retirement plan contributions would stop, but you would continue to earn
service credit for each month in which you have earnings. Each
month, LACERA confirms 30-year cancellation for eligible members. Members
who qualify will receive a notification letter.
The County Employees
Retirement Law (CERL) indicates different requirements for General members
and Safety members:
GENERAL MEMBERS
A General member must
have been a LACERA or reciprocal member on or before March 7, 1973, and may
include most types of service credit to meet the 30-year service requirement.
SAFETY
MEMBERS
A Safety member has no membership date requirement, and is limited to
certain continuous County and deferred reciprocal service credit.
| |
General Members
(CERL Section
31625.2) |
Safety Members
(CERL Section
31664) |
| Membership Date Requirement |
Must be a LACERA
member on or before
March 7, 1973 |
Any Safety member |
| Service Credited toward 30 years: |
| County Service |
x |
x |
| Redeposit of Withdrawn Contributions |
x |
x |
| Temporary Time |
x |
x |
| Deferred Reciprocal |
x |
x |
| Vested prior County Service |
x |
x |
| Nonvested prior County Service* |
x |
|
| Military** |
x |
|
| Federal** |
x |
|
|
Other Public Agency**
|
x |
|
*For General members,
nonvested prior County service is credited toward 30 years only if contributions
were left on deposit with LACERA.
**For Safety members, purchased non-County service credit (such as Federal, Military, or Other Public Agency) counts toward 30 years only if the safety member was a member of LACERA or a reciprocal system on or before March 7, 1973 AND applied to purchase non-County service credit on or before October 9, 2003.
NOTE: Additional Retirement Credit (ARC) does NOT count toward the 30 years.
If you have questions
regarding your eligibility, contact LACERA at 1-800-786-6464, and one of our knowledgeable Retirement benefit Specialists will assist you.
12/14/06
|
