LACERA is a public retirement plan duly created and operating under the County Employees Retirement Law of 1937, set forth at California Government Code Section 31450 et. seq (CERL). It is subject to the California Constitution, CERL, the Public Pensions Reform Act of 2013 (PEPRA), as well as regulations, procedures, and policies adopted by LACERA’s Boards of Retirement and Investments.
California Constitution
Article XVI, Section 17 of the California Constitution grants retirement boards sole and exclusive fiduciary responsibility over the assets, management, and investment of public pension funds to provide benefits and services to participants. It dictates that the board’s duty to its participants and their beneficiaries takes precedence over any other duty, and directs board members to act with care, skill, prudence, and diligence.
Retirement Law Book
Laws governing LACERA are contained in the Retirement Law Book, which is updated annually with any additions or amendments made by the legislature. The Retirement Law Book includes:
- State of California County Classification (Government Code Section 28020)
- Constitution of the State of California Article XVI, Public Finance Section 17
- County Employees Retirement Law of 1937 (CERL)
- California Public Employees' Pension Reform Act of 2013 (PEPRA)
- Other Government Code Sections Applicable to CERL Systems
Disability Education Material
The Disability Retirement Law Resource (Second Edition, revised 2018) is a comprehensive review of both the related statutes and case law for disability retirement.