What is LA County Horizons plan?


What is LA County Horizons plan?

As a supplement to other County retirement/pension benefits that you may have, this voluntary Defined Contribution Plan allows you to: Build a retirement nest egg beyond your Los Angeles County Employees Retirement Association (LACERA) pension. Contribute to and potentially earn in tax-deferred accounts.

What is a Horizons 457 plan?

Since 1995, CalPERS has provided a deferred compensation plan to public agency and school employers and their employees. The CalPERS 457 Plan provides employees a low-cost, convenient way to save for retirement through payroll deductions. Moreover, there’s no cost to your agency.

Do LA County employees get a pension?

Robust Retirement Packages The County offers a number of deferred compensation plans for full-, part-time and seasonal employees. The plans provide a great way to save for retirement and supplement the defined benefit pension available to full-time employees.

Does LA County match 401k?

What is the County matching contribution? To support your efforts to save for retirement, the County will match your contributions dollar-for-dollar up to 4% of your monthly “compensation” as defined in the Plan.

How long do you have to work in LA County to get pension?

The minimum retirement age for service retirement for most members is 50 years with five years of service credit. The more service credit you have, the higher your retirement benefits will be.

How do I retire from LACERA?

Retirement Planning If you want to retire by mail, you can write a letter to LACERA indicating that you are electing to retire and fax it to us at 626-564-6155 or upload it to My LACERA.

Do LA County employees get Social Security?

It should be noted that County employees do not pay into Social Security, but do pay the Medical Hospital Insurance Tax portion of Social Security at a rate of 1.45%. The Los Angeles County Employees Retirement Association (LACERA) has reciprocal agreements with several public retirement systems in California.

Are LA County pensions taxable?

The balance of each pension payment will be taxable as ordinary income in the year received.

Is LACERA pension a lifetime benefit?

Features of your LACERA retirement plan are outlined below and contrasted with those of defined contribution plans. Your retirement allowance is a lifetime allowance; it will be paid to you every month for the rest of your life. Benefit payments run out when money is exhausted.

What kind of retirement plans does Los Angeles County have?

Savings Plan (401k) for full-time permanent, non-represented employees. Pension Savings Plan (457 plan) for all part-time, temporary, and seasonal employees of the County and Los Angeles Superior Courts who are not eligible to participate in the retirement programs provided through the LACERA or the Judges Retirement System.

Where do I sign up for the Los Angeles County plan?

Please sign the form and return it to the County of Los Angeles Service Center, 500 North Central Avenue, Suite 220, Glendale, California 91203 (Office Hours: Monday through Friday, 8:30am to 5:00pm Pacific Time). How much may I contribute to the Plan?

What makes county of Los Angeles a great place to work?

County of Los Angeles employees say their benefits play a large role in what makes the County such a great place to work. DHR strives to provide a level of customer service worthy of that view.