Your final compensation, along with retirement plan, service credit, and age at retirement, is one of the factors that determines your retirement benefits.
Final Compensation Periods
Your final compensation is based on your highest monthly average of pensionable compensation during a specific consecutive-month period of service (12 or 36 months, depending on your plan).
High-earning members may be subject to state or federal compensation limits.
Refer to your plan’s basic provisions page for the period of service used in calculating your retirement benefit.
Pensionable Pay Items
Certain pay items may be included in your final compensation to determine your retirement allowance.
If you are a member of General Plan G or Safety Plan C, pay items that are included in your pensionable compensation items are listed in the PEPRA Pay Codes Chart.
If you are a member of General Plan A, B, C, D, or E or Safety Plan A or B, pay items that are included in your pensionable compensation are listed in the CERL Pay Codes Chart.
If you were hired on or before December 31, 1995, you may be eligible to include a portion of County cafeteria plan contributions as compensation earnable (pensionable earnings).
Pensionable Leave Items
Selling back or receiving payment for the following items may help enhance your average monthly salary when you retire, as they are used in calculating your allowance.
- Sick leave
- Vacation/MegaFlex non-elective leave
- Holiday hours
- Sick Leave Buyback
- Under County rules, sick leave not used during the calendar year or other specified period may be paid to the employee while working. (In other words, the County may “buy back” your unused sick days and compensate you for that unused leave.)
- Excess Vacation or MegaFlex Non-Elective Leave Hours
- Vacation and MegaFlex non-elective leave hours in excess of the carryover threshold may be paid out to the employee annually while working.
- Holiday Hours
- Holiday hours may be paid out to certain eligible employees, pursuant to MOU provisions. Overtime and termination pay are not included in your final compensation.
- Utilizing the buyback provision or receiving payment for unused or excess leave hours can boost your retirement dollar; however, specifics on buyback vary. Check with your Department for information pertaining to your individual situation.
Calculating Your Retirement Benefit
Log in to My LACERA to use the retirement benefit estimate (RBE) calculator. You can input potential retirement dates, service credit amounts, and retirement options to see how it will affect your monthly amount.