County Employees Retirement Law of 1937 (CERL) - sdcera

§31495. Employer contribution (Los Angeles)
Until the completion of the next regularly scheduled actuarial survey of the retirement
system, the employer contribution required to finance the plan created by this article shall be
established by the board, upon the recommendation of the actuary.
(Added by Stats. 1981, Ch. 910, Sec. 1, Effective September 28, 1981)
§31495.5. Retirement or death allowances payable on or after operative date of section, to or
on account of any member of Retirement Plan E who retires or dies or who has retired
or died, as of April 1 each year; increase or decrease by amount equal to member’s
automatic COLA and as calculated by board of retirement before April 1 of each year;
election to purchase elective COLA; amount of required contributions; allowances
with respect to death and disability; definitions; application and operative effect (Los
Angeles)
(a) Notwithstanding any other provision of this article, every retirement allowance or
death allowance payable, on or after the operative date of this section, to or on account of any
member of Retirement Plan E who retires or dies or who has retired or died shall, as of April 1
each year, be increased or decreased by an amount equal to that member’s automatic COLA,
as defined in subdivision (f) and as calculated by the board of retirement before April 1 of
each year. No decrease in the cost of living shall reduce an allowance below the amount being
received by the member or his or her beneficiary on the effective date of the allowance or the
operative date of this section, whichever is later.
(b) A Retirement Plan E member may elect to purchase an elective COLA, as defined in
subdivision (f), with regard to some portion (designated in whole-month increments) or all of
his or her months of Retirement Plan E service earned prior to the operative date of this section.
The member may also elect to purchase an elective COLA, as defined in subdivision (f), with
regard to some portion (designated in whole-month increments) or all of his or her months of
Retirement Plan E service purchased pursuant to Section 31490.5, including service rendered
after June 4, 2002, but prior to becoming a member of this system.
(c) The election shall be made upon written application signed by the member and filed
with the board pursuant to election procedures and during election periods established by the
board. The purchase of the elective COLA shall be effective only when the member has paid
contributions necessary to purchase the designated amount of service for which he or she shall
receive the elective COLA. The amount of required contributions shall be determined by the
board, subject to the following:
(1) The cost of purchasing service for elective COLA purposes shall be determined by
the board of retirement such that no elective COLA liability shall be borne by the county and no
diminution in the funding ratio of the system shall result.
(2) The cost charged to the member for purchasing the elective COLA service shall be
based upon the assumption that the member retires at the age of 65 years.
(3) Members may pay for the elective COLA by lump-sum payment or monthly
installments over a period to be determined by a resolution adopted by a majority vote of the
board of retirement, or both, but in any event prior to the earlier of his or her death or the date
that is 120 days after the effective date of his or her retirement.
(4) If a member fails to timely complete the purchase of his or her elective COLA,
he or she shall receive an elective COLA calculated only with regard to that amount of service
actually purchased.
(5) If a Retirement Plan E member dies prior to retirement, any contributions made
toward the purchase of an elective COLA, and all interest credited thereto, shall be refunded
to the deceased member’s surviving spouse or, if there is no surviving spouse, to the deceased
Article 1.5, §31495. - §31495.5. 68