When you retire, you have six options for how your allowance is distributed to you. These options are designed to offer flexibility and address the needs of various lifestyle and family situations.
Provides the highest monthly retirement allowance and a fixed eligible survivor allowance percentage
Provides a reduced monthly retirement allowance and a customizable eligible survivor allowance percentage
Provides a reduced monthly retirement allowance and a lump-sum beneficiary payment of member contributions
Provides a reduced monthly retirement allowance and a 100 percent beneficiary allowance
Provides a reduced monthly retirement allowance and a 50 percent beneficiary allowance
Provides a reduced monthly retirement allowance and a fixed beneficiary percentage or dollar amount
The option you elect affects the amount of your retirement allowance, your survivor’s eligibility for LACERA-administered healthcare, and the amount of the continuing benefit payable to your spouse, domestic partner, or named beneficiary upon your death.
We are here to help you understand the various retirement options and how they apply to your personal situation. Contact us to speak with a Retirement Benefits Specialist.