Do not report to work on your retirement date
Congratulations! You are officially retired.
Receive your first allowance payment
Your retirement allowance from LACERA will be paid monthly on the last business day of the month.
You can download our current Payday Calendar or order a printed copy.
Provided your department posts your termination date timely, you will usually receive your first allowance check by direct deposit at the end of the month following the month you retire (for example, if you retire any time in March, you will receive your first check on the last business day in April).
Your first payment is usually larger than subsequent payments because it includes a retroactive payment for any days remaining in the month after the date you retired. (For example, if you retire on March 27, your first payment will include five days in March as well as the entire month of April).
LACERA is mindful of getting retirees their payments in a timely manner. However, if there is a banking issue such as a wrong routing or account number, your first payment may be by mailed check and could take up to an extra week for postal delivery (one of many reasons why it is important to always keep your address updated with LACERA).
Close out contracts
Members who have incomplete contracts for previous service purchases or a plan transfer will have a chance to pay off the contract within 120 days of their retirement date. When we process your retirement, we’ll send you a balance of contract letter, providing you with the options you have to pay or complete the contract. These letters generally go out within 30 days after your retirement date. Why do we wait? Most members enter into before-tax contracts that cannot be altered or paid off before the targeted end date—unless a member retires early. These restrictions exist to comply with IRS regulations.