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BENEFITS


PLAN TRANSFERS

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

PLAN TRANSFERS

LACERA offers a choice of methods for active members in Plan E who wish to transfer to contributory Plan D:

  • Open Window Plan Transfer (OWPT)
  • Prospective Plan Transfer (PPT)

Decide which method is best for you

Active members in non-contributory Plan E may transfer to contributory Plan D through an Open Window Transfer or Prospective Transfer. There are many factors to consider before you initiate a plan transfer. It is wise to compare the benefits and costs associated with each plan and to speak with a Retirement Benefits Specialist prior to completing the application.

OVERVIEW: Open Window Transfer and Prospective Plan Transfer

OPEN WINDOW TRANSFER

PROSPECTIVE PLAN TRANSFER

Contributions calculated at a lower rate. Based on your entry age to LACERA.

Contributions calculated at a higher rate. Based on your current age.

Must purchase and convert credit for all Plan E service to Plan D.*

May opt to purchase and convert some or all Plan E service credit to Plan D.

Cost to purchase and convert Plan E service based on your entry age to LACERA.

Cost to purchase and convert Plan E service based on your age on the beginning date of the service being purchased.

Contract payment periods from one year up to 10 years.

Contract payment periods from one year up to 10 years.

You remain a Plan E member until your transfer is completed. Although you begin earning Plan D service credit upon the start of your payroll deductions, you are not entitled to Plan D benefits until your entire transfer contract is paid in full.

You begin earning Plan D service credit on the effective date of transfer and become eligible for disability/survivor benefits when Plan D service requirements are met.**

*Certain exceptions apply.
**Certain eligibility applies: To be eligible to apply for disability retirement, you must have two years of continuous service after your most recent effective date of transfer. (During that two-year period, you must not take a medical leave necessitated by a preexisting condition.) Or, if you had a break in service, you must have earned five years of service credit as an active Plan D member after your most recent effective date of transfer.

Transfer Resources

  • Our online Retirement Calculator can assist you in comparing the retirement allowance you would receive as a member of Plan E with that of Plan D.
  • To estimate the costs associated with transferring and purchasing your Plan E time and converting it to Plan D, use our online Transfer calculator, which displays estimates on both OWPT and PPT.
  • For details on the provisions of each plan, refer to the individual Summary Plan Description brochures, which can be accessed on the Brochures & Forms page.

9/12/16