Supplemental Early Retirement Plan SERP

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What is SERP

SERP is a program designed to create incentives that effectively and efficiently increase and accelerate the retirement rate, in excess of the natural attrition rate. Many agencies throughout California are looking for cost containment and cash flow strategies. SERP is an innovative turn-key program which has been utilized by many public agencies to:

  • Create Fiscal Savings
  • Assist with Staff Reorganization
  • Reward Long-Term Employees
  • Enhance Retirement Benefits

Why SERP?

In theses current economic times, California’s public agencies are being asked to do more with less – less staff, less money and less support. SERP creates many benefits for both the agencies utilizing them and their employees.

Benefits to Agencies

  • Staffing flexibility
  • Payroll savings
  • Avoiding layoffs and “burn out”
  • Freedom to pursue other interests
  • We have been offering SERP since the early 1980s, continually improving the program

Benefits to Employees

  • Ability to retire early
  • Guaranteed monthly income*
  • Freedom to pursue other interests
  • Flexible payout options

*Guarantees are based on the claims-paying ability of the issuing insurance company.

Why Keenan?

We believe that the success of an early retirement program lies in proper planning and implementation. We also know that sensitivity to retirement issues and respect for those involved is essential. From our experience with more than 10,000 early retirees, we have designed a full-service approach that helps to ensure a “win-win” situation for the agency and the employees.

From providing quality benefits during their employment, to ensuring that the retirement benefits they receive meet their needs, we have continuously crafted innovative solutions, like SERP, that provide real results while remaining cognizant of the value of the taxpayer dollar, without sacrificing the level of service to the agencies, employees and retirees.