SAFETY PLAN B
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.
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 five 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
- Mandatory retirement at age 60 applies to safety members of the Sheriff?s Department and Fire Department with hire dates prior to 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
To Be Exempt from Mandatory Retirement at Age 60
Safety members of the Sheriff?s Department or Fire Department hired prior to April 1, 1997 must submit certification by a County physician indicating they are capable of performing their assigned duties in accordance with the standards set forth by their department. LACERA must receive this certification 30 days before the member?s 60th birthday.
Safety members hired on or after April 1, 1997 are not subject to mandatory retirement. District Attorney Investigators and lifeguards in L.A. County are exempt from mandatory retirement at age 60 by order of the Federal Court. Certain exceptions apply; for additional information call 1-800-786-6464 to speak with a LACERA Retirement Benefits Specialist.
SAFETY PLAN B: LOS ANGELES COUNTY BENEFITS (not administered by LACERA)
- County pays disability benefits if active member is disabled
- County pays death benefit if active member dies
- $2,000 life insurance benefit provided by County if member dies in active service
SAFETY MEMBER CONTRIBUTION RATES, effective July 1, 2008.
8/30/10
