1.
What is the Supplementary Early Retirement Program (SERP)?
Answer:
- SERP is a custom program designed to offer a voluntary incentive to thirty (30) eligible employees which includes retirement planning and annuity structuring.
2.
What are the benefits of SERP?
Answer:
- IUSD’s formal way of celebrating our dedicated teachers and thanking them for many years of service.
- SERP creates a smooth transition into retirement for IUSD teachers.
- Free financial planning
3.
Who is eligible?
Answer:
- Current IUSD employee with a minimum of five (5) years of service as of June 30, 2018.
- IUSD employees at least sixty (60) years of age by June 30, 2018 unless a permanent disability retirement is granted by CalSTRS or CalPERS.
- IUSD employees who made a personal choice to leave IUSD through retirement or resignation effective June 30, 2018.
4.
Who will help me to evaluate the financial impacts of early retirement?
Answer:
- A STRS counselor will meet with you to answer your questions.
5.
How does an annuity work? How will it assist in supplementing my income?
Answer:
- A retirement planning professional from Keenan and Associates will meet with you to assist in reaching your personal retirement goals.
6.
I would like more information. When is the next meeting?
Answer:
- February 9, 2018 9:00am to 11:30am and 1:00pm and 3:30pm: Location: Dr. Ernest Shaw IUSD Board Room
7.
What is the deadline to submit my SERP enrollment materials and letter of resignation to IUSD?
Answer:
- April 20, 2018 at 5pm. Your letter must include the effect date of June 30, 2018.
