BHUSD - SERP Meeting - Certificated Employees
- What
- BHUSD - SERP Meeting - Certificated Employees
- When
- 1/20/2016, 3:30 PM
- Where
- BHHS - STC Building Cherney Lecture Hall
BEVERLY HILLS UNIFIED SCHOOL DISTRICT
is offering
SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN (SERP)
FOR ELIGIBLE CERTIFICATED NON-MANAGEMENT EMPLOYEES OF THE DISTRICT
The Beverly Hills Unified School District is pleased to announce that the Board of Trustees has approved the offering of a Supplemental Employee Retirement Plan (SERP). This program will provide eligible employees with a monthly income supplement to their regular CalSTRS / CalPERS retirement benefits or other retirement income.
All forms of benefits are annuities that will be purchased from an insurance company. The cost of each annuity is the same, and equals 75% of my annual salary for the current school year if.
The SERP is a voluntary plan for employees who meet all Eligibility Guidelines including but not limited to:
1. Employee must be a Certificated (Non-Management) employee of the District.
2. Employee must be at least 55 years of age by June 30, 2016.
3. Employee must have at least five (5) years of service with the District by June 30, 2016.
4. Employee must be eligible to retire from CalSTRS/CalPERS.
5. Employee must retire from the District on or before June 30, 2016.
6. Employee must submit a Letter of Resignation and SERP Enrollment Package by February 23, 2016.
* March 3 – Final Approval Pending SERP Savings Verification (if necessary). Employees reserve the right to rescind their resignation/retirement should the Plan not be approved. BVUSD reserves the right to not approve the plan, if it is not cost effective.
On behalf of the District, Keenan Financial Services is the Contract Administrator. These Plans have given eligible employees the opportunity to retire early with a monthly benefit in addition to their CalSTRS / CalPERS retirement plan. Keenan Financial Services will provide group orientation meetings plus individual counseling sessions. Attendance at these meetings is strongly encouraged. The meetings are designed to provide an overview of the Plan and to answer your questions.