Board of Trustees Approves 13th Check for Basic Plan Retirees and Beneficiaries in Pay Status as of December 2020

The Board of Trustees is pleased to announce the payment of a 13th check to eligible participants in the Basic Plan. The payment was made possible by the Basic Plan’s strong investment performance in 2020. (For details, refer to Pension Plans’ Investments Perform Well in 2020 Despite Market Turmoil.) Retirees and beneficiaries who were eligible for a monthly benefit from the Basic Plan as of December 2020 will receive an additional payment equal to the amount of their regular monthly benefit. Payments will be processed in early April 2021. This additional benefit reflects the continued financial strength of the Basic Plan, which remains well funded and in “Green Zone” status, as measured by the Pension Protection Act.

It is important to note that this additional payment is being made on a one-time, non-precedential basis and is based entirely on the Trustees’ judgment and discretion about the financial condition of the Basic Plan. There is no right (vested, accrued or otherwise) to any additional or similar payment in future months or years.

For more information, contact the Pension Department at or (323) 866-2200, Ext. 404.