| PLAN E TO D TRANSFER CALCULATOR
This calculator will give you an idea of
the monthly cost to switch from Plan E to Plan D. It will show
results for a Prospective Transfer and an Open Window Transfer.* If you transfer prospectively, you may not transfer back
for three years. Once you begin a transfer, you cannot switch transfer
methods. You may pay for your transfer through a lump-sum payment or monthly payroll deductions or a combination of both.
WHAT
DOES IT CALCULATE?
It's flexible! You can choose the number of years of Plan E service
credit you want to purchase and select a payment period
from 1 to 10 years OR enter the
monthly dollar amount you want to pay.
THE
DIFFERENCE BETWEEN THE TRANSFER METHODS
A Prospective Transfer is a simple plan change; you switch
from Plan E to Plan D and begin making the monthly contributions. You
may also purchase some or all of your Plan E service credit.
You will become a Plan D member the first day of the first month that
is at least 30 days after your application is received by LACERA. (Example:
Application received August 22; Plan D effective date is October 1.)
You may transfer prospectively from Plan D to Plan E and end your monthly retirement contributions to Plan D; however, you will no longer be entitled to the Plan D benefits available for active members.
The Open Window
Transfer requires you to purchase all your previous years of Plan
E service credit before your transfer becomes effective. It can be purchased
in a lump sum, through monthly payroll deductions, or by using a combination of both. You will remain in Plan E until you have paid the transfer contract
in full. The maximum term to complete payment is ten years.
*If you have 25 years or more of service credit, the calculator cannot compute the cost of your Open Window Transfer. Call LACERA at 1-800-786-6464 for assistance.
If you are
interested in transferring plans, call LACERA to request a transfer
package. |
