Riverside: Your Retirement Pension is Secure

• The SEIU NIPF requires your employer to set aside a total of 10 cents an hour on your behalf for this supplement. If you remain a County employee for your entire career, it will provide a supplement of $30 – $40 a month, which is only a small fraction of your total pension.

• For example, if you retire at 60 after 30 years of service at a salary of $50,000 a year, your annual CalPERS pension would be $45,000 annually.  The MOST the supplement from the SEIU NIPF would provide you would be $480 annually ($40.00/month). In other words, about 1% of your real pension.

• Because the NPIF is in a critical status and is required by law to rehabilitate itself, the supplemental payment it provides will be reduced from $30 – $40 a month to $25 – $30 month (or a $120 annual reduction at the most).  IT HAS NO AFFECT ON YOUR CALPERS PENSION. SEIU NIPF was legally obligated to inform you.

SEIU Local 721 remains vigilant in defense of your retirement security. We have a unique Secure Retirement Program, which actively protects our members’ pensions and watches all the funds (including CalPERS) which invest your hard earned money.

In Riverside, plans are underway to involve members as we address pension issues and solutions to protect our future. Please stay tuned for future meetings.