Retirement and medical benefits

(Excepted from the CRC-CS Policies and Procedures Manual)

Simplified Employee Pension (SEP) Retirement Plan  

All full-time, non-school board employees (part-time and full-time) who have worked at least 13 months for The Children’s Reading Center, Inc. will be eligible to participate in the Corporation’s Simplified Employee Pension (SEP) plan. The terms of the SEP are as follows:

• CRCCS may contribute up to 7% of an individual’s salary yearly to a retirement fund, though it is not obligated to make a contribution each year.
• No employee contributions are required.
• Contributions, when made, will be made quarterly.
• Participants are 100% vested from date of enrollment.
• During each July, interested and eligible employees will have the opportunity to enroll in the SEP plan.

Medical Reimbursement Plan  

All full-time, non-school board employees may participate in the Corporation’s Medical Reimbursement Plan. The terms of the plan are as follows:

• Each employee may be reimbursed up to $2,400 annually for any deductible medical expense to include:

• Health insurance premiums
• Health insurance deductibles
• Eye glasses and appointments
• Dental appointments and procedures
• Prescription drug costs
• Non-elective surgery

• Whatever portion of the $2,400 not used will not “roll-over” to the subsequent year.
• Expenses for reimbursement may occur for employee, spouse, or dependents