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BENEFITS


OPEN WINDOW TRANSFER

OPEN WINDOW PERIOD RENEWED

The Open Window Plan Transfer window is open as of January 7, 2016. (1-14-16)

OPEN WINDOW TRANSFER — PLAN E TO PLAN D

An Open Window Transfer from Plan E to Plan D requires you to purchase all your previous years of Plan E service credit before your transfer becomes effective. Basically, this means you must catch up on the back contributions you would have paid had you elected Plan D when you entered LACERA membership, along with the interest those contributions would have accrued.

The purchase can be made by a lump-sum payment, or through semimonthly payroll deductions over a maximum of ten years, or a combination of both. You remain a Plan E member until you have paid the transfer contract in full.

  • Contribution rate is based on your age at entry to LACERA
  • More cost-effective method of purchasing and converting all your Plan E service credit to Plan D than Prospective Transfer
  • Upon fulfillment of transfer contract, you become a Plan D member; your membership is retroactive to your most recent date of entry into a LACERA retirement plan

Eligibility to purchase credit for service prior to LACERA membership varies and is based on your employment status prior to joining Plan E.

The following types of funds may be used for a lump-sum payment associated with an Open Window Transfer:

  • Payroll Deductions
  • Qualified Plans: 401(k)/KEOGH
  • 457 Fund Plan Transfers: In-Service or after Termination
  • IRAs: Non-Roth/Non-After Tax
  • 403(b)
  • After-Tax Dollars

If you retire, terminate, or defer your membership before completing your plan transfer, you have 120 days to complete payment using any of the methods referenced above. If payment has not been completed within 120 days, you will remain in Plan E and your retirement allowance will be calculated according to the provisions of Plan E.

Interested in an Open Window Transfer?

If you are interested in an Open Window Transfer, a smart first step is to estimate the costs
associated with transferring and purchasing your Plan E time and converting it to Plan D. Use our Transfer Calculator, which displays estimates for both Open Window Plan Transfers and Prospective Plan Transfers. Another good resource is the Open Window Transfer Guide, which gives thorough information and instructions on how the transfer process works. For additional information or assistance, consult with a LACERA Retirement Benefits Specialist by calling 800-786-6464, or visit our Member Service Center in Pasadena.

1/15/16

Open Window Transfer

Open Window
Transfer Guide
(brochure only)

Estimate the cost of purchasing service credit
Plan Transfer
Calculator

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