Company Profile
Los Angeles County Employees Retirement Association (LACERA)
Company Overview
The Los Angeles County Employees Retirement Association (LACERA) administers and manages the $52 + billion retirement fund for the County of Los Angeles. We provide retirement, disability, and death benefits to eligible County employees and their beneficiaries, and collect, deposit, invest, and manage retirement funds collected from the County, outside districts, and County Employees.
LACERA is one of the largest county retirement associations in the United States with over 156,000 members. Our Membership is comprised of individuals from a diverse range of careers, age groups, and ethnicity - all contributing to the greater welfare of Los Angeles County.
Benefits include health insurance, annual leave, sick leave, retirement, paid holidays, and ride share program.
LACERA Values: We work together toward achieving our mission through our shared Values.
Our Values include Professionalism, Respect, Open Communication, Fairness, Integrity, and Teamwork.
Benefits
The Los Angeles County Employees Retirement Association (LACERA) recognizes excellence and performance by providing comprehensive and competitive benefit programs to its employees. Emphasis is directed toward offering you and your family a variety of benefits that help meet your needs and balance your career with your personal life. The main theme of all of the programs is flexibility.
These types of programs are made possible through Section 125 of the Internal Revenue Code and allows you to choose between nontaxable benefits, taxable cash and the best plan for you and your family. In addition, the County pays you a monthly "benefit allowance" to pay for these benefits.
LACERA offers three (3) cafeteria benefit plans. Each plan has different benefits and rates.
1. Options Benefit Plan - for Staff Members represented by SEIU Local 721.
2. MegaFlex Benefit Plan - for eligible Non-Represented Staff Members.
3. Flexible Benefit Plan - for eligible Non-Represented Staff Members.
As a participant of one of the above plans, you may elect the following benefits:
• Medical Coverage
• Dental Coverage
• Group Term Life Insurance
• 12 Holidays
• Accidental Death & Dismemberment Insurance
• Health & Dependent Care Spending Accounts
• Medical Coverage Protection
• Short-Term Disability – for MegaFlex Participants only
• Long-Term Disability – for MegaFlex Participants only
Depending upon your employment status, the County provides the following retirement plans:
Defined Benefit Retirement Plans - to learn more about these plans, contact us at (800) 786-6464.
Defined Contribution Retirement Plans – The County offers three voluntary supplemental retirement plans for full-time permanent employees. These plans are governed by IRS code Section 401k and 457. To learn more about these plans, call Great West Life & Annuity at (800) 947-0845.
Deferred Compensation & Thrift Plan (Horizons, 457 plan) for all full-time permanent employees.
Savings Plan (401k) for non-represented employees.
Rideshare Benefits - Monthly transit subsidy (up to $115.00), pass purchase program, monthly vanpool subsidy (up to $115.00), $75.00 commuter choice subsidy.
Pension Savings Plan (457 plan) for temporary, seasonal employees.
Tuition Reimbursement subject to availability of funds.