SERP 24-25
The District and SDEA have signed a final agreement for a Supplementary Early Retirement Plan (SERP) for the 2024-25 academic year. Read the final agreement below:
If you wish to see the initial proposals from the negotiations, they are below.
What’s Next?
- Week of December 3rd: Eligible employees receive a packet in the mail to their home address from PARS with an announcement letter and an enrollment packet to eligible employees so they can decide whether or not they want to enroll. Enrollment packets will include individualized information and payment options based on members’ date of birth, age at potential resignation, and final pay.
- Eligible members will have until Wednesday, January 15 to enroll and notify the district of their intent to resign at the end of the school year.
- In January, the board decides whether SERP goes forward based on how many employees have enrolled.
- See a full timeline in section 5.0 of the final agreement!
FAQ:
Attend a group workshop:
As you review your options, consult relevant experts, and decide whether or not to take advantage of the offer of this year’s SERP, CalSTRS has in-person and online “My Retirement Decisions” sessions available. Slides and materials are also available here.
- 💻 Online: Thursday, January 9, 2025, 3:30 PM to 5:00 PM – Hosted by SDEA, RSVP here
- 🪑 In Person: Monday, January 13, 2025, 4 PM – 5:30 PM – Hosted by SDEA, RSVP here
Schedule an individual consultation:
You can contact CalSTRS to set up an individual consultation at 800-228-5453.
Many questions about the SERP are very individual since they relate to members’ work history, salary, and financial situation, so it is a good idea to consult with relevant experts (financial planners, tax experts, etc.) to get individualized information.
Additional Resources:
- CalSTRS website
- CalSTRS calculators
- SDUSD Retiree Benefits – for current & prospective retirees
- SDUSD 2025 Open Enrollment Information
- SDEA unit members eligible for the SERP Search this list for your employee ID to see if you were on the list of eligible employees provided by the District to SDEA
- Resources from PARS packet:
- PARS Enrollment Steps
- Instructions – Submitting Enrollment Forms Via Email
- PARS Meeting Dates (In-person &_online)
- SDUSD SERP Orientation Video from PARS (Explanation of PARS, explanation of requirements, benefit plan structure, monthly annuity options, review of forms, enrollment deadline, etc)
Help! I still have questions! Who do I contact?
Questions related to the SERP can be directed to the PARS Plan Support Department at (800) 731-7884 or via email at plansupport@pars.org.
Per the District, please do not physically come to the Ed Center, call, or email District staff in HR, LR, Finance, Payroll, etc, as they will be directed to the above contact information for PARS.
