SAFETY PLAN B: OVERVIEW

Safety Plan B is a contributory plan to which both you and your employer contribute. It is a defined benefit plan that provides a guaranteed monthly lifetime retirement allowance provided you meet retirement eligibility requirements. (See Safety Member Contribution Rates.)

Retirement benefits are determined by your age at retirement, length of service, and average final compensation.

The following is an overview of Safety Plan B features. For detailed, comprehensive information on the features and benefits of this plan, visit the Plan Book Section.

SAFETY PLAN B PROVISIONS

• Vesting with 5 years of county service credit
• Member eligible to receive retirement allowance
  • At age 50 with 10 years service credit
  • At any age with 20 years of service credit
  • At age 60 — Mandatory if hired before April 1, 1997
• Final compensation based on monthly average of any 12-month period of service
• Member can receive up to 100 percent of final compensation as retirement allowance
• Member may purchase Additional Retirement Credit (ARC)
• Member may purchase service credit for eligible government service prior to LACERA membership
• Member can apply for disability retirement
• Pre-Retirement death benefit
• Pre-Retirement survivor benefits
• Member eligible for retiree health insurance subsidy
• Post-retirement survivor benefits
  • Pays up to 100 percent of member’s retirement allowance to eligible surviving spouse, children, or domestic partner
• Eligible for retiree cost-of-Living (COLA) increases
• Allows reinstatement of eligible former members

SAFETY PLAN B: LOS ANGELES COUNTY BENEFITS (not LACERA benefits)

• County pays disability benefits if active member is disabled
• County pays death benefit if active member dies
• $2,000 life insurance benefits provided by county if member dies in active service

2/16/10