VESTING
Becoming “vested” means you are entitled to
receive a retirement benefit when you meet LACERA's minimum age and service
credit requirements. Vesting occurs when you have accumulated the minimum
amount of County retirement service credit required under your retirement
plan. Vesting entitles you to terminate County employment and defer receiving
your retirement allowance until you are eligible and ready to apply for retirement.
VESTING - PLAN A,B,C,D
You become vested in contributory Plan A, B, C or D when you have five years or more of County (or combined County and reciprocal system) retirement service credit. Vesting entitles you to a retirement allowance when you terminate employment and you meet the minimum age and service requirements. If you are vested and terminate employment with Los Angeles County you may leave your plan contributions on deposit with LACERA. You may apply for service retirement when you reach age 50 and reach the date on which you would have had 10 years of County retirement service credit had you remained in service in a full time postition.
VESTING - PLAN E
You become vested in non-contributory Plan E when you have ten years of County (or combined County and reciprocal system) retirement service credit. Vesting entitles you to a retirement allowance when you terminate employment and meet the minimum age requirement. If you are vested and terminate employment with Los Angeles County you may apply for service retirement when you become eligible.
5/20/10