LAFPP PENSION PAYMENTS
Your January 31, 2019 pension payment was processed from PARIS, our new pension administration system, which we announced to our members in December. Your monthly pension check or direct deposit advice for January 2019 will have a new look and will provide more information about pension earnings and deductions.
On the new pension payment check/direct deposit advice you will notice the following improvements:
- The earnings, deductions, and adjustments are clearly separated to make the information easier to understand.
- Medical/dental deductions reflect the “out of pocket” costs
paid by you after your subsidy has been applied.
- The entire premium amount is not displayed. To calculate your medical or dental premium, simply add the “out of pocket” deduction to the subsidy amount displayed in the new Subsidies Paid by LAFPP box.
New additions include:
- A Subsidy Box
- Displays the subsidy amount(s) paid by LAFPP
- The subsidy amount(s) listed does not increase the member’s pension amount, it is listed for informational purposes only.
- A Summary Table
- Totals your deductions and adjustments, then adds/subtracts from the gross amount to provide the net payment amount.
- A reminder for members receiving checks (not direct deposit) – The statement “Void after 180 days from payment date” can be found on the lower section of your check. Checks not cashed or deposited within 180 days will become “stale” and need to be re-issued by LAFPP.
We have provided a sample of both a pension check and pension advice for your reference. Please call the Retirement Services Section at (213) 279-3125 if you have any questions.