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A member or former member who does not have an eligible survivor, as defined in Section 4.1012, may make an irrevocable election at the time of retirement, in writing, to provide for a continuance of the member’s or former member’s retirement allowance to one designated beneficiary. The retiree shall take an actuarial reduction of the retiree’s retirement allowance to pay for the continuance to a designated beneficiary. The retiree shall specify any whole percentage not to exceed 100% as the portion of the retirement allowance to be paid as an allowance to the beneficiary, subject to any limits imposed by federal law. The allowance payable to the beneficiary shall commence the day following the retiree’s date of death and shall terminate upon the death of the beneficiary.
The beneficiary’s continuance shall be subject to all cost-of-living and discretionary increases.
A beneficiary under this section shall not be entitled to any disability retirement allowance, any basic death benefit, any special death benefit, any monthly allowance for survivors of a member or retired person, any insurance benefit or subsidy, or retired member lump-sum death benefit.
The Board shall adopt rules to administer this continuance and shall formulate the benefits in such a way that no additional actuarial liability is incurred either by the System or by the City.
SECTION HISTORY
Added by Ord. No. 182,629, Eff. 7-25-13.
(a) Optional Retirement Allowance Election. At any time before the first payment of a service or disability retirement allowance, a member or former member who is retiring may elect to receive the actuarial equivalent of such retirement allowance as:
(1) One Hundred Percent (100%) Continuance. An optional retirement allowance payable throughout the balance of the retiree’s life, with the provision that upon the retiree’s death one hundred percent (100%) of such optional retirement allowance shall be continued through the life of and paid to: (i) the retired member’s surviving spouse or domestic partner; or (ii) the retired member’s minor children, in the event there be no surviving spouse or domestic partner; or (iii) the retired member’s dependent parents, in the event there be no surviving spouse or domestic partner or minor children; provided that, in the case of a minor child, the same shall terminate with the monthly payment next preceding the date on which said child attains the age of eighteen (18) years; or
(2) Lesser Percent (%) Continuance. Any other optional allowance which the retiree may elect to receive and which shall be authorized by the Board, payable throughout the balance of the retiree’s life, with the provision that, upon the retiree’s death, a specified percentage of such optional allowance selected by the retiree shall be continued through the life of and paid to: (i) the retiree’s surviving spouse or domestic partner; or (ii) the retiree’s minor children, in the event there be no surviving spouse; or (iii) the retiree’s dependent parents, in the event there be no surviving spouse or minor children; provided that, in the case of a minor child, the same shall terminate with the monthly payment next preceding the date on which said child attains the age of eighteen (18) years.
In order for the person who is the retiree’s spouse or domestic partner at the time of retirement to be eligible to receive the continuance provided in this section, this person must be the surviving spouse or surviving domestic partner of the retiree at the time of the retiree’s death.
(b) Calculation of Optional Retirement Allowances. The amount of any optional retirement allowance granted pursuant to this section shall be so calculated that the liability of the system at the date of retirement under the optional retirement allowance shall be equal to the liability of the system at the same date under the retirement allowance provided in Sections 4.1007 or 4.1008, including in each case the liability for continuance to an eligible survivor provided in Section 4.1012, if applicable. Any retiree selecting one of the options available under this section who has an eligible survivor as defined in Section 4.1012 shall have the annuity portion of such retiree’s retirement allowance calculated on the basis of the member’s total accumulated contributions, including both normal and survivor contributions. For the purpose of this section, the liability of the system is defined as the present value, in accordance with tables adopted by the Board, of the retirement allowance or optional retirement allowance calculated by approved actuarial methods, giving due weight to the average probabilities of survivorship of all parties involved in the allowance, or optional allowance, to the limitation of payments to age eighteen (18) in the case of a minor child, and to the requirement for refund of unused contributions after the death of the retiree or beneficiary as provided for in Section 4.1010(c)(2).
(c) Options for Members Who Retired Prior to July 1, 1965, with an Optional Allowance. Any retired member of the Retirement System who retired prior to July 1, 1965, and who selected one of the optional retirement allowances authorized in the predecessor to this section, upon written application filed with the Board of Administrators shall be entitled to receive the allowance the member would have been eligible to receive under the then applicable service retirement or disability retirement provisions had the member not elected an optional retirement allowance at that time. Any adjustment made pursuant to this provision shall be effected by modifying the pension portion of the allowance. For benefits that are increased, the ratio between the base amount and the cost of living amount shall be maintained by increasing the cost of living proportionately. All adjustment to the cost of living amount made pursuant to this section shall be subject to future adjustments as provided in Section 4.1022.
Any surviving spouse receiving a continuance of a retired member’s allowance based upon the member having made an election as provided in the predecessor to this section, which election was made when the member was not eligible to participate in the continuance to eligible survivor benefit currently provided in Section 4.1012, may elect to receive in lieu of such allowance the continuance to eligible survivor benefits provided by Section 4.1013(a)(1).
Any election or written application made pursuant to this subsection shall be irrevocable and not subject to the provisions of waiver of benefits as provided in Section 4.1024.
(d) Federal Law Limitations May Not Be Exceeded. No optional allowance shall be granted under the provisions of this section that exceed any limitations imposed by federal law.
SECTION HISTORY
Added by Ord. No. 182,629, Eff. 7-25-13.
Any member or the survivor of a deceased member who is eligible for a retirement allowance under the provisions of this Article may, in lieu of the annuity payment calculated on the basis of the refund of unused contributions, elect to receive an annuity payable only during the life or lives of the persons covered by the option with no payment due upon the death of the last survivor on account of unused contributions. In all other respects, the provisions of Section 4.1015(b) with respect to the liability of the System under the option being equal to the liability of the System under the member’s unmodified retirement allowance shall be applicable.
SECTION HISTORY
Added by Ord. No. 182,629, Eff. 7-25-13.
(a) Back Contributions for Past Periods of City Service. Every member who was a City employee during any period or periods in which the member was regularly employed, on a full-time basis or on a part-time basis but was not a member, and thus not contributing to the Retirement Fund, shall have the option to designate all or any portion of such employment for which the member may receive retirement credit, provided, however, that the member is not receiving and is not entitled to receive for that period of City employment any benefit from any other pension or retirement system, including, but not limited to, the Fire and Police Pension Plan, the Water and Power Employees’ Retirement Plan, the Limited Term Retirement Plan, the Pension Savings Plan for Part-time, Seasonal and Temporary Employees, and any union plan. Such option shall be exercised in writing, filed with the Board of Administration, designating the period of City employment for which the member desires to receive retirement credit, and must be accompanied by a single payment of back contributions or by an agreement to pay such back contributions in installments.
The back contributions to be paid shall be in an amount equal to all of the contributions which the member would have made to the Fund had the member been a member during such period, together with all regular interest which, had the member so made the same, would have been credited thereon prior to the date of such payment; provided, however, that in the case of such installment payment thereof, the same shall be made pursuant to the rules which shall be adopted by the Board of Administration establishing minimum amounts to be paid and the period of time within which they must be paid and, furthermore, providing the rate of interest which shall be paid upon the unpaid balance of the same. Every member who makes up back contributions as hereinabove provided shall be allowed credit for the period of City employment designated in the declaration filed by the member with the Board of Administration, the same as though the member had been a member during such period. Any such member shall be allowed at any time to make a single payment equal to the then present value of all of the unpaid installments in such manner as shall be determined by the Board. Should the member fail to make all of the payments required of the member under the provisions of this section, the member shall be allowed retirement credit, counter-calendarwise, for the same portion of such designated period as the amount made up by the member is of such full amount, and provided further that, should the member cease to be a member by reason the member’s death, retirement credit shall be allowed for the whole period designated by the member if the member’s surviving spouse or domestic partner exercises the option which, under such circumstances, hereby is given to such survivor to make a single payment equal to the then present value of all of the unpaid installments in such manner as may be determined by the Board. The written option hereinabove referred to shall be filed with the Board of Administration.
For purposes of determining whether a member is not receiving and is not entitled to receive for a prior period of City employment any benefit from a non-City pension or retirement system, such as a union plan, the Board shall adopt rules regarding the proof that a member must provide to establish a right to make back contributions for such prior period of City employment, since, for a non-City system, such information is not directly available to the Retirement System.
(b) Back Contributions for Periods of Participation in the Pension Saving Plan. Notwithstanding the provisions of Subsection (a), a member may receive retirement credit for any period or periods in which the member was a participant in the Pension Savings Plan for Part-time, Seasonal and Temporary Employees provided for in Chapter 16 of Division 4 of this Code. Such option shall be exercised in writing, filed with and subject to rules promulgated by the Board of Administration as provided for in Subsection (a) above. The amount of back contributions to be paid shall be the total of the following:
(1) An amount equal to all of the contributions which the member would have made to the Fund had the member been a member during such period, together with all regular interest which would have been credited thereon by the Board of Administration prior to the date of such payment; and
(2) The full amount of all contributions made to the Pension Savings Plan by the City on behalf of the member during such period or periods, plus all interest credited to those contributions by the Pension Savings Plan.
(c) Back Contributions for Periods of Participation in the Limited Term Retirement Plan. Notwithstanding the provisions of Subsection (a) herein and Section 4.1850(g) of Chapter 18.5 of Division 4 of this Code, every person who is a member may receive service credit for any period or periods in which the person was a participant in the Limited Term Retirement Plan provided for in Chapter 18.5 of Division 4 of this Code by making back contributions, which shall be paid in one of the following manners:
(1) All of the participant’s interest in the participant’s individual account with the Limited Term Retirement Plan, based upon contributions made both by the participant and by the City, and any gains or losses thereon, shall be transferred from the Limited Term Retirement Fund to the LACERS Retirement Fund for credit to the member’s LACERS account and, upon receipt, shall constitute full payment for the buy back; or
(2) Where the member’s entire account balance in the member’s former individual account with the Limited Term Retirement Plan, based upon contributions made both by the participant and by the City, and any gains or losses thereon, is directly rolled over from the Limited Term Retirement Plan to another eligible retirement plan prior to January 1, 2003, provided these funds have been segregated and not co-mingled with any other funds, the trustee-to-trustee transfer of the total balance from that eligible retirement plan to the LACERS Retirement Fund for credit to the member’s LACERS account shall constitute full payment for the buy back; or
(3) In all other cases in which the member’s Limited Term Retirement Plan account balance has been distributed, the amount of back contributions to be paid shall be in the amount of the entire lump sum distribution, whether received by the member or by any other person, together with all regular interest which would have been credited thereon by the Board of Administration subsequent to the date the lump sum was distributed had the member been a member during that period.
This option shall be exercised in writing, filed with and subject to rules to be promulgated by the Board of Administration. The service credit purchased pursuant to this subsection shall count as continuous service credit for all LACERS benefits, the same as if the person had been a member during the entire period of time for which service credit is given.
(d) Back Contributions for Periods when Member Received Workers’ Compensation Benefits. The Board of Administration shall, by rule, provide for the making up of contributions that a member failed to make for any period during which the member received Workers’ Compensation benefits (Div. IV, Labor Code) for temporary disability on account of any injury or illness arising out of and in the course of the member’s employment with the City, together with an amount equal to the regular interest that would have been credited had the member made the contributions.
(e) Back Contributions in Connection with Disability Denials. A limited right to make back contributions in connection with denials of disability applications is provided in Section 4.1008(j)(4).
(f) Limitations on Back Contributions Imposed by Federal Law. Notwithstanding the provisions of Subsection (a), (b) and (c) herein, a member shall not be allowed to make back contributions to purchase retirement credit under this section if the period of time being purchased constitutes “unqualified service” which the member is prohibited from purchasing under federal law. The Board shall adopt such rules as are necessary to comply with federal law and may authorize payment methods that comport with federal requirements.
SECTION HISTORY
Added by Ord. No. 182,629, Eff. 7-25-13.
Any former member who received a refund of that former member’s contributions upon separating from the service of the City shall, upon again becoming a member, have the option to re-deposit with the Retirement Fund the amount previously withdrawn, together with regular interest, irrespective of any time period that may have elapsed since such separation. Such option shall be filed in writing with the Board of Administration. The amount of the contributions to be re-deposited shall be the sum of the amount of accumulated contributions withdrawn, plus all of the regular interest which would have been credited thereon had said accumulated contributions remained on deposit in the fund to the date the member re-deposits such contributions either by a single lump sum payment or executes an agreement to pay such re-deposit in installments. In the case of installment payments, the Board of Administration shall establish the minimum amounts to be paid, the period of time therefore, the rate of interest which shall be paid on the unpaid balance of the same, and all other rules the Board may deem necessary for the carrying out of the provisions of this section. Any such member shall be allowed, at any time, to make a single payment equal to the then present value of all of the unpaid installments in such manner as shall be determined by the Board. Every member who makes a re-deposit as hereinabove provided shall be allowed retirement credit for the period of service for which the re-deposit is made; provided however, that the member is not receiving and is not entitled to receive retirement credit for such period of service from any other pension or retirement system of the City of Los Angeles. Should the member fail to complete payment of the re-deposit, credit shall be allowed counter-calendarwise from the same portion of such designated period as the amount made up by the member is of such full amount, and provided, further, that should the member cease to be a member by reason of their death, retirement credit shall be allowed for the whole period for which the re-deposit is being made if the member’s surviving spouse or domestic partner exercises the option which, under such circumstances, hereby is given to such survivor to make a single payment equal to the then present value of all of the unpaid installments in such manner as shall be determined by the Board.
SECTION HISTORY
Added by Ord. No. 182,629, Eff. 7-25-13.
(a) Definitions. For the purpose of this section, the following words and phrases shall have the meaning ascribed to them in this subsection unless a different meaning is clearly indicated by the context:
Leave of Absence shall mean an approved uncompensated leave of absence from City Service, excluding any period of absence due to disciplinary suspension.
Buy Back shall mean purchase by a member of retirement credit for periods of eligible leaves of absence from City Service.
(b) Eligibility. Every person who is a member on the effective date of this section or who shall become a member subsequent thereto shall be eligible to buy back credit for periods of uncompensated leave of absence from City Service.
(c) Application of Buy Back Credit. A member electing to buy back periods of leave of absence from City Service may apply buy back credit to increase service retirement benefit credit. Buy back credit shall not be used to meet minimum qualification for service retirement, disability retirement or vested retirement or to qualify for the Family Death Benefit Plan, or to qualify for or increase health and dental insurance premium subsidies.
(d) Effect of Benefit Increases. If retirement benefits should be increased by City Council action pursuant to Section 1168 of the City Charter, such increased benefits shall be applicable to service credits purchased pursuant to this section.
(e) Minimum Periods of Purchase. A member electing to buy back credit for periods of uncompensated leave of absence shall file with the Board of Administration a written application identifying the time periods for which credit is to be purchased. A member may buy back credit for one or more periods of uncompensated leave, except, however, a minimum of six (6) months of leave in the aggregate shall be purchased. Total buy back credit purchased shall not exceed the member’s actual City Service at the time the buy back is concluded.
(f) Agreement with the City Employees’ Retirement System - Buy Back Methods. A member electing to buy back credit described herein shall enter into a written agreement with the Retirement System. Such agreement shall provide that the member contribute an amount equal to the present value of the liability incurred by the System in crediting the service based upon actuarial assumptions in effect at the time the agreement is entered into or amended and the projected retirement date contained in the agreement. Such agreement shall identify the method of payment of the additional contributions required to fund the purchased credit, which may be a specific dollar payment or percent of salary obligation. If a member elects to make the required contribution by a specific dollar payment, the payment may be made in a lump sum or in biweekly installments through payroll deduction over a period not to exceed five (5) years. If the member elects to enter into a percent of salary obligation, the member shall agree to make the contributions as a percent of salary through payroll deduction over a period extending from the date of the agreement with the Retirement System to a projected retirement date included in the agreement.
(g) Termination or Completion of Agreement. A member who has entered into a buy back agreement shall complete all contributions prior to the effective date of retirement in order to receive agreed upon buy back credit. If all contributions have not been completed and the member elects to retire, the member may receive prorated buy back credit for that portion of the service which has been purchased by contributions already made and forfeit the remainder of credit covered by the agreement, or may make a lump sum payment sufficient to complete the total payment covered by the agreement. In the event the member elects to retire at a later date than the age specified in the agreement after completing all payments, no adjustments shall be made in the buy back credit or the cost of such credit. A member who elects to terminate an after-tax agreement prior to its completion or at the time of retirement shall forfeit buy back credit and may elect to receive a cash refund of the buy back contributions and interest payable upon the earlier of death, termination of employment or retirement.
(h) Member’s Death. In the event of the death of a member who has entered into a buy back agreement, the surviving eligible beneficiary of the member may elect a refund of the buy back contributions and interest thereon, or elect to apply the credit, or a portion thereof, to the calculation of the benefits for which the survivor qualifies without the addition of buy back service credit, or elect to complete the terms of the agreement with a lump sum payment of the remaining amount owed.
(i) Administration. The administration of this section shall be under the exclusive management and control of the Board of Administration. Said Board shall have, and is hereby granted, full power and authority to adopt and enforce all such rules and regulations as it may deem necessary for the carrying out of the provisions of this ordinance. The Board of Administration shall have the right to construe this section, to interpret any provision thereof, to make rules and regulations relating to this section, and to determine any factual questions arising in connection with the operation of this section after such investigation or hearing as the Board may deem appropriate. Any decision made by the Board under the provisions of this section shall be conclusive and binding on all parties concerned.
SECTION HISTORY
Added by Ord. No. 182,629, Eff. 7-25-13.
(a) Definitions. For the purpose of this section, the following words and phrases shall have the meaning ascribed to them in this subsection, unless a different meaning is clearly indicated by the context:
Buy Back shall mean purchase by a member of retirement credit for periods of eligible service with other governmental entities or purchase by a member of retirement credit for uncompensated maternity leave.
Full-time Service shall mean a minimum of six (6) months of uninterrupted service with an eligible governmental entity, excluding part-time service.
Governmental Entity shall mean the United States Government, including its territories, any agency of the United States Government, the United States Postal Service and any branch of the United States military service; any State or political subdivision thereof; any local government or special district within any State in the United States, and shall exclude non-governmental agencies supported by government contracts or grants and any prior service with the City of Los Angeles.
Government Service Buy Back Program or GSB shall mean the method for the buy back of retirement credit set forth in this section.
Prior Plan shall mean a retirement plan of a governmental entity in which the member was a participant during full-time service.
Uncompensated Maternity Leave shall mean a leave of absence from City Service taken for maternity reasons without pay, provided that such leave shall be a minimum of one (1) month and a maximum of twelve (12) months with respect to any one pregnancy.
(b) Eligibility. A member is eligible to buy back credit for periods of full-time service with other governmental entities and to buy back credit for periods of uncompensated maternity leave. Notwithstanding the foregoing:
(1) Members may not buy back credit for periods of service for which they are currently eligible or will become eligible to receive a retirement benefit from a prior plan, provided, however, that to the extent required by federal law, periods of service in the United States military reserve may be purchased even if the Member is eligible to receive a retirement benefit from the prior plan. For purposes of the previous sentence, a member shall be treated as eligible for such benefit from a prior plan even if the member will not receive such benefit solely due to the member’s withdrawal of member contributions and interest from the prior plan, unless such withdrawal occurred prior to the later of the member’s date of hire by the City or December 20, 1996, or unless the member deposits the amount of such withdrawal as the buy back purchase price, in accordance with Subsection (e)(2) hereof, within ninety (90) days of such withdrawal. In addition, a member shall be treated as eligible for such benefit from a prior plan if the member received at any time a distribution from the prior plan in excess of member contributions and interest with respect to such period of service. The Board may extend the ninety (90) day period if required for compliance with Section 415 of the Internal Revenue Code. In the event that prior to the attainment of the minimum age and service for a service retirement under LACERS the member becomes eligible to receive currently or in the future a retirement benefit from the prior plan with respect to such period of service, the corresponding buy back credit shall be canceled, and the member shall receive a refund of the payments made under Subsection (e) with respect to such buy back credit, with interest, payable upon the earlier of death, termination of employment, or retirement from City Service.
(2) Members are not allowed to buy back credit for periods of service from a governmental entity which provides reciprocal benefits with LACERS and for which that member would be entitled to those reciprocal benefits. For purposes of the previous sentence, a member shall be treated as entitled to reciprocal benefits even if the member will not receive such benefits solely due to the member’s withdrawal of member contributions and interest from the prior plan, unless such withdrawal occurred prior to the later of the member’s date of hire by the City or December 20, 1996.
(3) Only a member performing City Service as defined in Section 4.1001 shall be eligible to execute a buy back agreement.
(4) For purposes of this section, the date of a withdrawal shall be deemed to be the date of receipt of the proceeds of the withdrawal by the member or other designated recipient.
(5) Uncompensated Maternity Leave. Only a member who was on an active employment status immediately before and after taking a leave of absence for maternity reasons without pay shall be eligible to buy back credit for such leave of absence.
(c) Application of Buy Back Credit. The service credit purchased under this section shall be treated the same as service credit under LACERS, except that it shall not be taken into account for establishing the minimum five-year service requirement for service retirement, disability retirement or vested retirement.
(d) Minimum Periods of Purchase. A member electing to buy back credit for previous service with other governmental entities or for periods of uncompensated maternity leave shall file with the Board of Administration a written application identifying the time periods and agencies for which credit is to be purchased, and shall submit proof acceptable to the Board of Administration establishing the fact of such other service with another governmental entity or such uncompensated maternity leave. Buy back credit for one or more periods of full-time service with another governmental entity prior to entrance or re-entrance into the Retirement System may be purchased, except, however, such purchase shall be limited to not less than six (6) months of uninterrupted service from a single entity. The six-month minimum requirement does not apply to the uncompensated maternity leave.
(e) Agreement with the Los Angeles City Employees’ Retirement System - Buy Back Methods. A member electing to buy back credit described herein shall enter into a written agreement with the Retirement System. Such agreement shall specify the amount to be paid for the purchase of this service credit.
(1) The amount to be paid pursuant to the buy back agreement shall equal (A) the member’s contribution rate, (B) times the member’s annual salary rate at the time the agreement is entered into, and (C) times the number of full and partial years of service to be purchased. Partial years of service shall be rounded down to the full month. Such agreement shall identify the method of payment of the additional contributions required to fund the purchased credit, which will be a specific dollar payment.
(2) Notwithstanding Paragraph (1), if the member had made employee contributions and left the member’s contributions on deposit with the government entity for which full-time service is being purchased until after the later of the member’s date of hire by the City or December 20, 1996, the buy back purchase price will be the amount of the member contributions and interest on deposit in the member’s account with that government entity. For the purpose of purchasing service credit, the Retirement System may either receive (A) eligible rollover distributions, as defined in Section 401(a)(31) of the Internal Revenue Code, (B) rollover contributions, as defined in Section 408(d)(3) of the Internal Revenue Code, or (C) direct cash contributions, the timing of which shall be governed by Subsection (b)(1) herein. The Board of Administration shall prescribe such rules and forms as are necessary to determine when proposed contributions hereunder qualify as rollover contributions.
(f) Method of Purchase.
(1) The member may elect to pay on an after-tax basis in a lump sum or in biweekly installments through payroll deduction, subject to any applicable Internal Revenue Code restrictions.
(2) The member may elect to pay via rollovers of pre-tax and/or after-tax funds pursuant to Section 401(a)(31) or Section 408(d)(3) of the Internal Revenue Code.
(3) Should the member elect to purchase the buy back service credit through payroll deduction, annual interest at a rate determined by the Board and set at the commencement of the agreement shall be charged. The minimum biweekly payroll deduction shall be $25.00.
(g) Execution of the Agreement. A member entering into a buy back agreement shall complete all contributions prior to the effective date of retirement in order to receive agreed upon buy back credit. In the event the member elects to retire prior to completion of the buy back agreement, the member may receive prorated buy back credit for that portion of the service with other governmental entities or uncompensated maternity leave which have been purchased by contributions already made and forfeit the remainder of credit covered by the agreement; or the member may make a lump sum payment sufficient to complete the total payment covered by the agreement. Additionally, a member who elects to terminate an after-tax agreement prior to its completion, or at the time of retirement, may elect to receive a cash refund of the buy back contributions and interest payable upon the earlier of death, termination of employment or retirement or prorated buy back credit.
(h) Member’s Death. In the event of the death of a member who has entered into a buy back agreement, the surviving eligible beneficiary of the member may elect a refund of the buy back contributions and interest thereon; elect to apply the credit, or a portion thereof, to the calculation of the benefits for which the survivor qualifies without the addition of buy back service credit; or elect to complete the terms of the agreement with a lump sum payment of the remaining amount owed.
(i) Benefit Adjustment. The annuity attributable to contributions made pursuant to this section, as well as the service purchased with such contributions, shall not be utilized in the calculation to determine whether a retirement allowance is to be increased to provide a minimum pension of fifty percent (50%), pursuant to the provisions of Section 4.1007(a)(4).
(j) Administration. The administration of this section shall be under the exclusive management and control of the Board of Administration. Said Board shall have, and is hereby granted, full power and authority to adopt and enforce all such rules and regulations as it may deem necessary for the carrying out of the provisions of this section. The Board of Administration shall have the right to construe this section, to interpret any provision thereof, to make rules and regulations relating to this section, and to determine any factual questions arising in connection with this section’s operation after such investigation or hearing as the Board may deem appropriate. Any decision made by the Board under the provisions of this section shall be conclusive and binding on all parties concerned.
(k) El Pueblo Employees. Notwithstanding the above, persons who were employed by El Pueblo de Los Angeles State Historic Monument between May 17, 1977 and June 30, 1995, and who became members of LACERS on July 1, 1995, may purchase service credit for their employment with the El Pueblo between May 17, 1977, and June 30, 1995. The service credit purchased under this section for employment at El Pueblo shall be treated as same as service credit under LACERS including vesting, disability retirement and minimum qualification for service retirement.
SECTION HISTORY
Added by Ord. No. 182,629, Eff. 7-25-13.
Amended by: Subsec. (b)(1), Ord. No. 184,853, Eff. 4-6-17.
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