PLAN E TO D TRANSFER CALCULATOR
This calculator will give you an idea of
the monthly cost to switch from Plan E to Plan D. It will show
results for a Prospective Plan Transfer (PPT) and an Open Window Transfer.* If you transfer prospectively, you may not transfer back for three years. Once you begin a transfer, you cannot switch transfer
methods. You may pay for your transfer through a lump-sum payment, or monthly payroll deductions, or a combination of both.
DOES IT CALCULATE?
It's flexible! On a PPT, you can choose the number of years of Plan E service
credit you want to purchase and convert. You can also select a payment period
from 1 to 10 years OR enter the
monthly dollar amount you want to pay. (The monthly amount will be split into two equal payments and deducted from your semimonthly paycheck.)
DIFFERENCE BETWEEN THE TRANSFER METHODS
A Prospective Transfer is a simple plan change; you switch
from Plan E to Plan D and begin making the monthly contributions. You
may also purchase and convert some or all of your Plan E service credit.
You will become a Plan D member the first day of the first month that
is at least 30 days after your application is received by LACERA. (Example:
Application received August 22; Plan D effective date is October 1.)
You may transfer prospectively from Plan D to Plan E and end your monthly retirement contributions to Plan D; however, you will no longer be entitled to the Plan D benefits available for active members.
The Open Window
Transfer requires you to purchase all your previous years of Plan
E service credit before your transfer becomes effective. It can be purchased
by a lump sum payment, through semimonthly payroll deductions, or by using a combination of both. You will remain in Plan E until you have paid the transfer contract
in full. The maximum term to complete payment is ten years.
*If you have 25 years or more of service credit, the calculator cannot compute the cost of your Open Window Transfer. Call LACERA at 800-786-6464 for assistance.
If you are
interested in transferring plans, consult with a LACERA Retirement Benefits Specialist prior to making your decision.