THE PROCESS OF RETIRING
Applying for and ultimately being granted a service retirement doesn’t happen overnight; it’s a process. Informed choices and careful planning can favorably impact the journey, as well as the destination. With that in mind, we’ve outlined some tips to help you prepare for and streamline the retirement process.
Deciding When You’re Ready
“How can I determine how much money I'll receive each month when I retire?” That’s the question everyone wants answered. To assist you in determining the answer, LACERA provides a number of resources.
In the My LACERA section on lacera.com, you can create your own personalized Retirement Benefit Estimate online. The Retirement Benefit Estimate feature automatically retrieves your personal data, such as your current retirement plan, age, service credit, and final monthly compensation, to create a personalized, preliminary online calculation of the benefits you will receive when you retire. This web feature also allows you to adjust years of service credit, salary, and other information to find the best retirement plan for you. Register on MY LACERA for quick and easy access to your personal retirement information.
The Online Retirement Calculator will prompt you to enter your age at retirement, years and months of service credit, and your final monthly compensation. Based on that information, it will compute an estimate of your monthly retirement allowance. To see a range of estimates, enter different ages, salaries, or years of service credit.
If you’d like a personalized, preliminary calculation of your benefits, along with advantageous retirement dates, register to attend a Pre-Retirement Workshop. These workshops present valuable information on retirement-related topics, Additional Retirement Credit (ARC), tax information, legislative changes that impact retirement planning, LACERA-administered health plans, etc. Plus, the LACERA Retirement Benefits Specialist presenting the workshop will be available to answer your questions one-on-one.
Each Pre-Retirement Workshop attendee will receive a companion guide that recaps the information presented in the workshop.
One-on-One Consultations at the Member Service Center with a LACERA Retirement Benefits Specialist
One-on-one consultations with a Retirement Benefits Specialist are available at our Member Service Center from 7:00 a.m. to 5:00 p.m., Monday through Friday. We recommend that you make an appointment to receive priority service using the online Appointment System on lacera.com, or by calling 800-786-6464. Walk-ins are still welcome. Select Saturday appointments are now available.
We've created a checklist to help you prepare for retirement.