Sworn employees are Police Officers and Firefighters who are covered under MOUs 22, 23, 24, and 25. Click a drop down item below to learn more about the benefits of the Deferred Compensation Plan (DCP)!

+ Enrollment

Did you know three out of four City employees have joined the DCP and on average, they save about 7% of pay? Join our family of 50,000 super-savers by enrolling in the DCP today! To enroll, follow the steps below.

  1. Download the Enrollment Form (by clicking on the "Download the Form" button).
  2. Complete all sections on the form.
    • Enter a contribution amount (percent-of-pay or dollar amount).
    • Select an investment option(s).
    • Sign the form.
  3. Submit the form by faxing or mailing it to the listed locations at the botton of page 2 of the form.
  4. Register for online DCP account access. You will receive a letter inviting you to register for DCP account access once your enrollment form is processed.

Please allow 3 to 5 business days to establish your DCP account. Also allow 1 to 2 pay periods for your first payroll deduction.

+ Purchase of Service Credits

One of the benefits of saving with the DCP is your option to use those funds to buy back service credit toward your pension plan with LAFPP. Purchasing service credit is one way to increase your future retirement income. You may be able to purchase service credit for prior government service, public service buybacks, back contributions, or re-deposits. To learn more, click here.

+ Rollovers

If you've worked for more than one employer in your lifetime, chances are you have more than one retirement account. You’re allowed to roll your other eligible retirement accounts into your DCP account. 401(a), 401(k), 403(b), and governmental 457(b) plans are all eligible employer-sponsored retirement plans. Visit our Rollovers page to learn more.

+ Pension Savings Plan (PSP)

As a sworn officer, your retirement savings were contributed to the Pension Savings Plan (PSP) while you were in the academy or drill tower. Once you graduate from the academy or drill tower, you become eligible for the Deferred Compensation Plan (DCP) and call rollover your PSP funds into your DCP account. You can keep the funds in your DCP account or use them to help purchase LAFPP pension service credit for the time you were in the academy or drill tower. Visit our Rollovers page to learn more about rolling over PSP funds into your DCP account or contact a Local Retirement Counselor for assistance.

+ DROP Exit Counseling

Also known as the Deferred Retirement Option Plan, DROP is a program offered to Police Officers and Firefighters contributing to the Los Angeles Fire and Police Pensions (LAFPP) system. When retiring from City service, you’ll need to decide whether to transfer DROP funds to a retirement program like the DCP or cash out your DROP funds.

By transferring your DROP funds to the DCP, you will continue to benefit from a professionally managed program that includes a dedicated service team, vetted investments, and low fees. You will also defer taxation on the balance until you start withdrawing funds from the DCP.

To learn more about transferring DROP funds into the DCP, please contact a Local Retirement Counselor. Also check out LAFPP for information.