Applying for and ultimately being granted a service retirement doesn't happen overnight. It’s a process. Informed choices and careful planning can favorably impact the journey, as well as the destination. With that in mind, we've outlined some tips to help you prepare for and streamline the retirement process.

DECIDING WHEN YOU'RE READY
"How can I determine how much money I will receive each month when I retire?" That's the question everyone wants answered. To assist you in determining the answer, LACERA provides a number of resources:

Online Retirement Calculator
This handy web feature can be accessed by clicking the Quick Links Calculator tab on the home page of lacera.com or by clicking here. The program will prompt you to enter your age at retirement, years and months of service credit, and your final monthly compensation. Based on that information, it will compute an estimate of your monthly retirement allowance. To obtain a variety of estimates, enter different ages, salaries, or years of service credit.
TIP: Check your "My LACERA" page for your current years of service credit and other important information.

Pre-Retirement Workshop
If you'd like a personalized, preliminary calculation of your benefits, along with recommended retirement dates, register to attend a Pre-Retirement Workshop. These workshops also present valuable information on retirement-related topics, Additional Retirement Credit (ARC), tax information, legislative changes that impact retirement planning, LACERA-administered health plans, etc. Plus, the LACERA Retirement Benefits Specialist presenting the workshop will be available to answer your questions one-on-one.

Pre-Retirement Guide
Each Pre-Retirement Workshop attendee also receives a companion guide that recaps the information presented in the workshop. Order or download a guide from the Brochures & Forms page.

One-on-One Consultations
Visit our Public Counter with a LACERA Retirement Benefits Specialist. No appointment is required. The Public Counter, located in the lobby of LACERA's Pasadena office, is open from 7:00 a.m. - 5:00 p.m. Monday - Friday. You may make an appointment—call 1-800-786-6464. Some Saturdays now available. For a map and directions, click here.

CHECKLIST FOR RETIREMENT PLANNING
Applying for retirement is a process that requires careful thought and planning. It's best to start compiling your retirement “to do” list several years before your retirement date.

Three to Five Years Prior to Retirement:

• Attend a LACERA Pre-Retirement Workshop.
• Review lacera.com calculators.
• Maximize contributions to deferred compensation and/or savings plans.
• Maximize your pensionable earnings; purchase service credit.
• Request a Personalized Retirement Benefit Estimate from LACERA
• Speak with a LACERA Retirement Benefits Specialist.
• Target a possible retirement date.

Six Months Prior to Your Retirement Date:

• Call LACERA at 1-800-786-6464 to request an Election to Retire form.
• Update your beneficiary record.

Two Months Prior to Your Retirement Date:

• Meet with a LACERA Retirement Benefits Specialist to assist you in preparing your retirement paperwork.
• Documents to submit when you apply for retirement:
  • Your signed Retirement Benefit Estimate and Election Form.
  • Your original Certified Marriage Certificate or Certificate of Registered Domestic Partnership.
  • LACERA Beneficiary Designation Form
  • Your beneficiary's original certified birth certificate (for Unmodified+Plus or Options 2, 3, or 4).
  • Completed Direct Deposit application with a voided check from your checking account.
  • Completed Tax Withholding form W-4/DE-4P (Per IRS and California Franchise Tax Board regulations, if you do not fill out a withholding form, tax will be withheld as if you were married and claiming three withholding allowances.)
• Additional documents you may need:
  • If you were divorced during your County employment, you must provide LACERA with a conformed copy (with the court clerk's filing date stamp and the judge's signature) of all the pages of your Judgment of Dissolution and any other orders directing division of benefits.
  • If you are in the process of a divorce at the time of retirement, LACERA cannot pay your retirement allowance until the Judgment of Dissolution of Marriage is final and a court order directing the community property division of your LACERA benefits is received.
• Prepare finances to complete any outstanding service credit contracts (contracts must be paid within 120 days following retirement).
• Notify your department of your retirement date.

7/31/08