I'm sorry to hear of the situation.
What you essentially have there is a waiver for discrimination based on age if the employer chooses to fire you based solely on your attaining the age of 60. To do that would be blatant age discrimination and is prohibited generally by the laws of the US, and the State of CA. I believe that the clause will not be enforceable and for the following reasons:
While a potential claim for age discrimination may be waived, there are very specific rules regarding how a waiver must be set out. These requirements include such things as :
Age Discrimination in Employment Act Amendment of 1967
SEC. 201. WAIVER OF RIGHTS OR CLAIMS.
Section 7 of the Age Discrimination in Employment Act of 1967 (29 U.S.C. 626) is amended by adding at the end the following new subsection:
`(f)(1) An individual may not waive any right or claim under this Act unless the waiver is knowing and voluntary. Except as provided in paragraph (2), a waiver may not be considered knowing and voluntary unless at a minimum--
`(A) the waiver is part of an agreement between the individual and the employer that is written in a manner calculated to be understood by such individual, or by the average individual eligible to participate;
`(B) the waiver specifically refers to rights or claims arising under this Act;
`(C) the individual does not waive rights or claims that may arise after the date the waiver is executed;
`(D) the individual waives rights or claims only in exchange for consideration in addition to anything of value to which the individual already is entitled;
`(E) the individual is advised in writing to consult with an attorney prior to executing the agreement;
In essence, what this seems to indicate is that the employer may not rely on the language in the document you signed to safely terminate you at age 60. To do so arguably would constitute age discrimination and the court would not enforce the agreement based on public policy issues.
CA law prohibits harassment and discrimination in the workplace and you do have a legal remedy.
Workplace harassment/discrimination is any unwelcome or unwanted conduct that denigrates or shows hostility or an aversion toward another person on the basis of any characteristic protected by law, which includes an individual's race, color, gender, ethnic or national origin, age, religion, disability, marital status, sexual orientation, gender identity, or other personal characteristic protected by law. A conduct is considered unwelcome if the employee did not solicit, instigate or provoke it, and the employee regards XXXXX XXXXX as undesirable or offensive.
In CA you have two possible avenues of approach to dealing with discrimination. If your goal is to ultimately sue in Federal Court, then you will file a complaint with the EEOC, and if you want to be in the CA Superior Court---local to your county---then you will file with the DFEH and, if you want to, with the EEOC as well.
You may a formal complaint with the CA Department of Fair Employment and Housing alleging discrimination based on your age.
To do this you must first make an appointment with the Department to be interviewed, either over the phone or at a local DFEH office. You may call the DFEH at(NNN) NNN-NNNN or apply on line by using the Department’s "Online Appointment System." The system will guide you through questions to determine whether an appointment is right for you.
Alternatively, you may file a complaint with the EEOC (Equal Employment Opportunity Commission). If your company has 15 or more employees (the DFEH only requires that there be 5 or more employees), they are prohibited from discriminating against you. To file a complaint with the EEOC, contact the nearest Equal Employment Opportunity Commission field office. To be automatically connected with the nearest office, call(NNN) NNN-NNNN EEOC website: www.eeoc.gov
Federal law specifically prohibits discrimination, based upon the Ethnicity, Color, Religion, National Origin, Age, Sex and Disability of an individual, with regard to hiring, promotion and firing.
After you file the complaint, your employer will be prohibited from any retaliatory action against you. The EEOC will investigate your claim, and 180 days after the filing of the complaint you may ask for a "right to sue letter". The EEOC will issue you the letter which gives you the right to institute a private civil action against your employer and seek monetary damages.
I hope that you found my answer informative, that you are accepting of my efforts and that you will rate my efforts based on the knowledge I have provided to you.
I wish you the best in 2012.