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The purpose of the Community College Employees Benefit Trust  is to provide reimbursement toward the cost of certain retiree medical expenses.

CCEBT at a glance...

 

The basic CCEBT benefit structure works as follows: 

  • Eligibility is attained when the employee ceases employment with Sierra College, attains age 55, and has contributed to the Trust for a minimum of five years.
  • Maximum reimbursement benefit as of September 1, 2014: $440/month  
  • Current tiered benefit levels structure:
    • 5 years of service – 50% of benefit level
    • Additional 2.5% of benefit level for each additional full year of active service above 5 years
    • Less than 5 years – reimbursement of medical expenses from contributions made, plus investment earnings/losses as determined by the Trustees
    • Benefit level reduced by 25% at Medicare Eligibility age as of September 1, 2014
  • Monthly reimbursements may be used to reimburse eligible retirees for medical expenses or premiums incurred and excludible from gross income under IRS regulations. 

 

Proposed changes in the future may result in an increased maximum benefit and further graduations in the tiered benefit levels structure