Los Angeles County Municipal Code Part IV Retirement Benefits Payable

A.

The benefit (if any) paid under this Plan in any Plan Year shall be initially determined for each Participant and/or Eligible Survivor as soon as practicable after LACERA has determined that the benefit that would otherwise have been payable from the Retirement Plan for that Plan Year will be limited by IRC Section 415. The benefit payable under this Plan shall be equal to the difference between the benefit payable to a Participant or Eligible Survivor from the Retirement Plan as limited in accordance with IRC Section 415 and the Treasury Regulations thereunder, and the benefit that would have been payable but for that limitation.

B.

For the purposes of calculating Plan benefits, the Plan Administrator may rely on calculations and determinations made by LACERA for purposes of administering the Retirement Plan in accordance with Section 415(b).

C.

This Plan and the Retirement Plan shall be separate entities and shall be administered separately. In addition, separate checks may be provided for the benefits under this Plan and the Retirement Plan; the Plan Administrator shall provide separate tax reporting for the benefits paid under this Plan; and no assets of the Retirement Plan shall be used, directly or indirectly, to pay for benefits or administration or any other costs of this Plan.

(Ord. 2010-0048 § 1, 2010)

A.

The Participant's or Eligible Survivor's benefit (if any) under this Plan shall be redetermined: (1) if the benefits that may be paid to him or her from the Retirement Plan are required to be recalculated in accordance with IRC Section 415(b) and the regulations thereunder, or (2) as otherwise necessary to ensure that the correct benefits are being paid under this Plan.

B.

At the Plan Administrator's discretion, the amount of every Participant's and Eligible Survivor's benefits may be redetermined at any time there is a material change in the rules governing the maximum benefit limits established under Section 415(b) or a material change in Retirement Plan benefits.

C.

If Retirement Plan benefits have ceased in accordance with Section 5.95.080 and then recommence in accordance with Section 5.95.090, a recalculation shall be made under this Section 5.95.130 as soon as administratively practicable after Retirement Plan benefits resume. Similar rules shall apply if the benefits of an Eligible Survivor under the Retirement Plan cease (or resume) under the Retirement Plan for any reason, including without limitation ceasing to be an Eligible Survivor.

D.

For the purposes of any redeterminations made under this Section 5.95.130, the Plan Administrator may rely on calculations and determinations made by LACERA for purposes of administering the Retirement Plan in accordance with IRC Section 415(b).

(Ord. 2010-0048 § 1, 2010)

A.

Beginning on or after the Commencement Date, for each Plan Year benefits shall be paid under this Plan to a Participant or Eligible Survivor under one of the following methods as determined in the discretion of the Plan Administrator:

Benefits may be paid from this Plan beginning on or after the date in each Plan Year that the benefits paid to the Participant or Eligible Survivor from the Retirement Plan have reached the maximum annual benefit that the Retirement Plan can pay under Section 415(b) for that Plan Year. At the discretion of the Plan Administrator, the annual benefit may be paid: (a) in monthly installments over the remainder of the Plan Year so that the Participant or Eligible Survivor continues to receive the same monthly benefit that he or she was receiving from the Retirement Plan before the Payment Date; or (b) in a single sum.

Alternatively, beginning on the Payment Date determined by the Plan Administrator in its discretion, the annual benefit payable under this Plan may be prorated and evenly paid at the same time and in the same manner as benefits are paid from the Retirement Plan during the Plan Year.

B.

Any periodic payments commencing under this Plan for a Plan Year shall continue through the end of the Plan Year, or (if earlier) the date that Participation ceases under Section 5.95.080 (or, for an Eligible Survivor, the date that benefits cease under Section 5.95.100).

(Ord. 2010-0048 § 1, 2010)

The Plan Administrator shall have full authority to withhold any and all taxes that are or may be due from any and all amounts paid under the Plan (including but not limited to income and payroll taxes), to pay them to the appropriate government agency, and to file and distribute necessary or appropriate tax reports and forms.

(Ord. 2010-0048 § 1, 2010)

No benefits attributable to District employment shall be owed, or be paid, under this Plan to any Participant (or his or her Eligible Survivor) who is a former employee of a District unless and until the District has first paid to the County the amount for which the County has invoiced the District for the benefits payable to such person, as provided in Part 5 hereof.

(Ord. 2010-0048 § 1, 2010)

The Plan Administrator shall have sole authority and discretion to determine the amount of benefits (if any) payable under this Plan, provided that the Plan Administrator may rely on calculations and determinations made by LACERA for purposes of administering the Retirement Plan in accordance with IRC Section 415(b).

(Ord. 2010-0048 § 1, 2010)