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BENEFITS


CATEGORIES OF PURCHASABLE SERVICE CREDIT

OVERVIEW OF CATEGORIES OF PURCHASABLE SERVICE CREDIT

Descriptions, eligibility requirements, contract terms, and calculation methods of service credit are explained below.

TEMPORARY TIME — Govt. Code Section 31641.5

Type of Service:* Employment in a non-permanent position with the County of Los Angeles (temporary, seasonal, intermittent, or part-time) prior to the date you became eligible for LACERA membership.

Eligible Members: Members who entered County service, enrolled in a contributory plan, and had no break in County service; or members who entered County service, enrolled in a contributory plan, terminated employment and withdrew funds, then returned to County service and rejoined a contributory plan.

Term of Payment Contract: The number of payment deductions cannot exceed the number of months you are purchasing.

Calculation Method: Based on the total compensation earned (salary) during the period of temporary service multiplied by your initial retirement contribution rate upon becoming a member of LACERA, plus the interest that would have been credited had the above amount been on deposit from the date you became a member of LACERA up to the Expiration Date on the Payment Contract. Payments not made by this date, or payments made through payroll deductions, are subject to additional interest until contract is paid in full. If total compensation information is not available, LACERA will use your rate of monthly compensation upon becoming a member multiplied by the months of creditable service you wish to purchase to compute your total compensation. (Service based on non-monthly compensation will be calculated on a case-by-case basis.)

*Service credit for work in less than full-time positions will be prorated accordingly. For example, two years of service at half-time equals one year of service credit.

PERMANENT TIME — Govt. Code Section 31641.5

Type of Service:* Employment in a permanent position of less than three-quarter time with the County of Los Angeles prior to the date you became eligible for LACERA membership.

Eligible Members: Members who entered County service, enrolled in a contributory plan, and had no break in County service; or members who entered County service, enrolled in a contributory plan, terminated employment and withdrew funds, then returned to County service and rejoined a contributory plan.

Term of Payment Contract: The number of payment deductions cannot exceed the number of months you are purchasing.

Calculation Method: Based on the total compensation earned (salary) during the period of temporary service multiplied by your initial retirement contribution rate upon becoming a member of LACERA, plus the interest that would have been credited had the above amount been on deposit from the date you became a member of LACERA up to the Expiration Date on the Payment Contract. Payments not made by this date, or payments made through payroll deductions, are subject to additional interest until contract is paid in full. If total compensation information is not available, LACERA will use your rate of monthly compensation upon becoming a member multiplied by the months of creditable service you wish to purchase to compute your total compensation. (Service based on non-monthly compensation will be calculated on a case-by-case basis.)

*Service credit for work in less than full-time positions will be prorated accordingly. For example, two years of service at half-time equals one year of service credit.

REDEPOSIT OF WITHDRAWN CONTRIBUTIONS — Govt. Code Section 31652

Type of Service: Employment in a position with the County of Los Angeles in which retirement contributions were made to LACERA in order to receive credit for that service.

Eligible Members: Members who entered County service, and enrolled in a contributory plan, terminated employment and withdrew funds, then returned to County service and rejoined a contributory plan. The entire amount withdrawn, plus all the interest that would have been credited had the withdrawn amount been left on deposit, must be redeposited in order to receive service credit. Service credit in prior plan is restored, and current plan membership, if different, is converted to the prior plan.

Term of Payment Contract: Up to 10 years (120 months).

Calculation Method: Based on the amount withdrawn, plus the interest that would have been credited had funds been left on deposit from the date of termination to the Expiration Date on the Payment Contract. Payments not made by this date, or payments made through payroll deductions, are subject to additional interest until contract is paid in full.

SICK WITHOUT PAY (SWOP) — Govt. Code Section 31646

Type of Service: Employment in a position in which you were absent without pay (for up to 12 consecutive months) due to illness or maternity leave while you were a member of Plan A, B, C, or D.* NOTE: You may purchase credit for up to five months of unpaid maternity leave without medical verification; birth certificate is required. These months include the month of birth, two months prior, and two months after the birth. You may purchase up to 12 consecutive months (before and/or after the birth) upon verification the leave was required for medical reasons.

Eligible Members: Members who entered County service, enrolled in a contributory plan, and had no break in County service; or members who entered County service, enrolled in a contributory plan, terminated employment and withdrew funds, then returned and rejoined a contributory plan and redeposited funds for the period during which the sick without pay occurred. To be eligible, you must have returned to work for at least one day following the absence without pay.

Term of Payment Contract: The number of payment deductions cannot exceed the number of months you are purchasing.

Calculation Method: Based on the contributions you would have paid (while in a contributory plan), plus the interest the contributions would have earned had they been on deposit during the period of absence up to the Expiration Date on the Payment Contract. Payments not made by this date, or payments made through payroll deductions, are subject to additional interest until contract is paid in full.

*The maximum purchase for each SWOP period is 12 consecutive months. LACERA will accept verification by your Department for unpaid sick leave.

UNITED STATES OF AMERICA, OR ANY PUBLIC ENTITY LOCATED WITHIN THE STATE OF CALIFORNIA — Bylaws of the Board of Retirement

Type of Service: Employment with the United States government (including military service), the State of California, or any department or agency of either, or any public entity (including employment with the County of Los Angeles) located within the State of California. Such employment must have occurred prior to your first entry into LACERA membership, and you must not be eligible now or in the future for a pension or retirement allowance for such service, or reciprocity benefits if you redeposit the contributions withdrawn from a reciprocal retirement system.

Eligible Members: All contributory members.

Term of Payment Contract: Up to 10 years (120 months).

Other Limitations: The total months/years of service credit you purchase may not exceed the length of your actual County service at the completion of your contract.

Calculation Method: Based on actuarial tables that determine the present value of the additional benefit you will receive after retirement.

OTHER PUBLIC AGENCY — Govt. Code Section 31641.2(c) - 1968 Board of Supervisors Resolution

Type of Service: Employment with the State of California, or any county in California, or the City and County of San Francisco, or any city or special district in Los Angeles County (excluding employment with the County of Los Angeles). Such employment must have occurred prior to your first entry into LACERA membership.

Eligible Members: Members who were active or deferred any time on or after January 1, 1968, and on or before November 1, 1974.

Members who entered County service, enrolled in Plan A, and qualify under the specific membership dates above, and had no break in County service; or terminated employment and withdrew funds, then returned to County service and rejoined/restored Plan A membership.

Term of Payment Contract: Up to 5 years (60 months).

Calculation Method: Based on the total compensation (salary) you would have earned had you been employed by the County receiving the compensation paid a carpenter during the time you were in service in the public agency, multiplied by your initial contribution rate upon becoming a member of LACERA, plus the interest that would have been credited had the above amount been on deposit from the date you became a member of LACERA through the Expiration Date on the Payment Contract. Payments not made by this date, or payments made through payroll deductions, are subject to additional interest until contract is paid in full.

FEDERAL/MILITARY — Govt. Code Section 31641.2(a) - 1972 Board of Supervisors Resolution

Type of Service: Employment with the United States Government, including military service, prior to your first entry into LACERA membership.

Eligible Members: Members who were active or deferred any time on or after December 1, 1972, or on or before July 1, 1974.

Members who entered County service, enrolled in Plan A, and qualify under the specific membership dates above, and had no break in County service; or terminated employment and withdrew funds, then returned to County service and rejoined/restored Plan A membership.

Term of Payment Contract: Up to 5 years (60 months).

Calculation Method: Twice your initial retirement contribution amount upon becoming a member of LACERA multiplied by the number of months of credit, plus the interest that would have been credited had the above amount been on deposit from the date you became a member of LACERA up to the Expiration Date on the Payment Contract. Payments not made by this date, or payments made through payroll deductions, are subject to additional interest until contract is paid in full.

ANY PUBLIC AGENCY LOCATED WHOLLY IN THE COUNTY OF LOS ANGELES — Bylaws of the Board of Retirement

Type of Service: Employment in any public agency located wholly in the County of Los Angeles (excluding employment with the County of Los Angeles) prior to your first entry into LACERA membership.

Eligible Members: Members who were active or deferred prior to January 1, 1976.

Members who entered County service, enrolled in Plan A, and qualify under the specific membership dates above, and had no break in County service; or terminated employment and withdrew funds, then returned to County service and rejoined/restored Plan A membership.

Term of Purchase Contract: Up to 5 years (60 months).

Calculation Method: Based on the total compensation (salary) you would have earned had you been employed by the County receiving the compensation paid a carpenter during the time you were in service in the public agency, multiplied by your initial contribution rate upon becoming a member of LACERA, plus the interest that would have been credited had the above amount been on deposit from the date you became a member of LACERA up to the Expiration Date on the Payment Contract. Payments not made by this date, or payments made through payroll deductions, are subject to additional interest until contract is paid in full.

GENERAL TO SAFETY SERVICE — Govt. Code Section 31639.75 (Added to the County Employees Retirement Law effective January 1, 1997.)

Type of Service: Employment in a position with the County of Los Angeles during which you were a general member. This retirement service credit may be converted to safety member retirement service credit provided you are now a safety member. You may convert up to a maximum of five years of service. If you elect to convert only part of your general member service, you must convert the most recent period of that service first and any remaining service will continue to be credited as general member service.

Eligible Members: Active safety members who have five or more years of service as a safety member at the time they elect to convert their previous general member service to safety member service.

Term of Payment Contract: Up to 10 years (120 months).

Calculation Method: Based on the difference between the total retirement contributions actually paid for general member retirement service credit and the retirement contributions that would have been paid if that general member service had been safety member service. Total contributions payable by the member include the member contributions and the employer contributions, plus the interest those contributions would have earned had they been on deposit up to the Expiration Date on the Payment Contract. Payments not made by this date, or payments made through payroll deductions, are subject to additional interest until the contract is paid in full. Active members who wish to purchase credit for service while in the Academy or for other similar training must call 800-786-6464 and speak with a LACERA Retirement Benefits Specialist.

2/10/14