On March 22, 2016, SEIU Local 99 members working in Lynwood Unified voted to ratify an enhanced early retirement plan. The Supplemental Early Retirement Plan (SERP) provides an incentive of 75% of an employee’s current annual salary to be paid directly as an annuity by a third party financial service, with multiple options for the term of the annuity pay out. To get this SERP, an employee must declare CalPERS retirement by April 1, 2016 (with an effective retirement date no later than June 15, 2016). Click here for the language of the agreement.
