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• Retirement

Retirement

Retirement Programs

The District participates in the following retirement programs:

• CalPERS   - Public Employees Retirement System for classified and some SCA employees (dependent upon position).
• CalSTRS   - State Teachers Retirement System for certificated employees.
• Apple   - For Temporary Short Term employees and Associate Faculty who are not in PERS or STRS.

Additional Retirement Resources can be found at   www.SSA.gov

Tax Sheltered Annuity Programs (Optional)

The Mt. San Jacinto Community College District is pleased to announce that enhancements are being made to the 403(b) and 457(b) Salary Reduction Agreements (SRA). Effective immediately, new 403(b) and 457(b) Salary Reduction requests received will need to be completed and faxed to our new 403(b) / 457(b) Plan Administrator’s   (TSA Consulting Group) toll-free fax line (located at the bottom of page 2 of the form).

Once you are at the site, you will see the Salary Reduction Agreement (SRA) forms:   403(b); 457(b); Meaningful Notice.

The SRA Service Team at our plan administrator is available to help you from 7 AM to 7 PM CT. Questions regarding the salary reduction agreement process should be directed to the SRA Team at (toll-free) 888-796-3786, option 5, or via   email.

We are excited to make the SRA process more efficient and provide a dedicated SRA team at our plan administrator to answer your questions.

Health and Welfare Benefits as a Retiree

An employee who has been employed full-time with the District in a regular contract status for not less than five (5) consecutive years leading to retirement; is at least the minimum age allowed for retirement according to STRS/PERS regulations; and has provided the appropriate written notice to the Human Resources Department of his/her intent to retire shall be eligible for continued medical insurance coverage under the District’s group insurance policy for a period of ten (10) years at a locked-in rate determined by the plan at retirement. If the premium amount increases in the following years, the retiree is responsible for the difference between their locked-in rate and the new premium amount.

Upon reaching the age of 65 all employees must enroll in   Medicare   Part A. Upon retirement, the retiree (Age 65+ or Medically Medicare Eligible) must enroll in Medicare Part B as well as Medicare Part A.

Retiree dependent coverage shall be offered with any attendant costs being fully borne by the retiree. The dependent coverage shall cease upon termination of the retiree’s enrollment in the program. Dependents who are retired and are covered under the district plan that are Medicare eligible must enroll in Medicare Part A and B.

Upon written request from an employee, made prior to the effective date of retirement, the employee in lieu of the continued health benefit program, may opt for the Health Reimbursement Arrangement (HRA). Under the HRA plan the retiree would receive an annual amount (see   CTA/NEA   and   CSEA   Bargaining Agreements) for a period of ten (10) years. The funds are to be utilized for eligible medical expenses and/or premiums, as outlined in   IRS Code Section 213(d). Should the employee choose this option, the option is irrevocable and the retiree shall not be eligible for participation in the health benefit program.

An employee hired after May 1, 2018 will only be allowed to elect the Health Reimbursement Arrangement (HRA) upon retirement. Please review our   frequently asked questions   for more information.