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BENEFITS


PLAN D

PLAN D: OVERVIEW

Plan D 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 General Member Contribution Rates.)

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

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

PLAN D PROVISIONS

  • Vesting with five years of county service credit
  • Member eligible to receive retirement allowance
    • At age 50 with 10 years service credit
    • At any age with 30 years of service credit
    • At age 70 regardless of years of service credit
  • 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 may 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

PLAN D: LOS ANGELES COUNTY BENEFITS (not LACERA benefit)

  • $2,000 life insurance benefit provided by County if member dies in active service*

*Eligible employees may purchase additional coverage through Optional Group Variable Life (GVUL) insurance. $2,000 County-paid life insurance benefit does not apply to MegaFlex participants; MegaFlex participants may elect to purchase GVUL insurance.

8/30/10