Did you know DCP participants can purchase service credits with their pension system (LACERS, LAFPP, WPERP) by using funds in their DCP account? If you haven’t already done so and you qualify to purchase service credits, consider starting the process now as it may impact how you plan for retirement.
Did you know that you can convert your Before-Tax contributions to After-Tax (Roth) contributions? You can do this at any time, either as an active employee or as a retiree. Learn more about In-Plan Roth Conversions here.
5 YEARS FROM RETIREMENT
Meet with a DCP Local Retirement Counselor
It’s time to start getting serious about planning for retirement. Our Local Retirement Counselors will help you review the status of your DCP account, adjust contributions to meet new maximum contribution limits, review your investment allocations, and update your beneficiaries. Contact Us!
In-Plan Roth Conversion
Did you know that you can convert your Before-Tax contributions to After-Tax (Roth) contributions? You can do this at any time, either as an active employee or as a retiree. Learn more about In-Plan Roth Conversions here.
3 YEARS FROM RETIREMENT
Enroll in Catch-Up
You may be eligible to increase your DCP contributions significantly by enrolling in Catch-Up starting three years before you’re eligible to retire. Learn more about Catch-Up Contributions here.
In-Plan Roth Conversion
Did you know that you can convert your Before-Tax contributions to After-Tax (Roth) contributions? You can do this at any time, either as an active employee or as a retiree. Learn more about In-Plan Roth Conversions here.
1 YEAR FROM RETIREMENT
Meet with a Local Retirement Counselor
Retirement day is right around the corner! Meet with a Local Retirement Counselor to do the following: review the status of your DCP account, adjust contributions to meet new maximum contribution limits, review important dates as your retirement date approaches, and discuss what happens to your DCP account post-retirement (e.g. distribution options, loan payments, etc.). Contact Us!
Update Beneficiary Info
A beneficiary is a person who will receive your account in the event of your passing.
You can update your beneficiary anytime by logging into your DCP account at LA457.com and place cursor on [Profile Name] > select "Personal Information" > Beneficiary Information
In-Plan Roth Conversion
Did you know that you can convert your Before-Tax contributions to After-Tax (Roth) contributions? You can do this at any time, either as an active employee or as a retiree. Learn more about In-Plan Roth Conversions here.
2 MONTHS FROM RETIREMENT
Enroll in Accrued Leave
Transfer unused vacation, sick, and/or overtime hours (also known as Accrued Leave) as a final contribution to your DCP account. Here’s how.
In-Plan Roth Conversion
Did you know that you can convert your Before-Tax contributions to After-Tax (Roth) contributions? You can do this at any time, either as an active employee or as a retiree. Learn more about In-Plan Roth Conversions here.
RETIREMENT DAY!
Stay in the DCP!
You don’t have to leave the DCP just because you’re retiring! You can keep your DCP account open and schedule distributions as you need them. Learn more here.
In-Plan Roth Conversion
Did you know that you can convert your Before-Tax contributions to After-Tax (Roth) contributions? You can do this at any time, either as an active employee or as a retiree. Learn more about In-Plan Roth Conversions here.
APPROACHING 72nd BIRTHDAY
Learn about Required Minimum Distributions (RMDs)
Once you reach age 72, you will be required to take minimum distributions based on IRS life expectancy tables. The DCP will keep you informed on your RMDs each year by sending you a letter with the estimated distribution amounts. Learn more about RMDs here.
In-Plan Roth Conversion
Did you know that you can convert your Before-Tax contributions to After-Tax (Roth) contributions? You can do this at any time, either as an active employee or as a retiree. Learn more about In-Plan Roth Conversions here.
