Welcome to the newly enhanced SBCERS Retirement Benefit Statement format, which will be effective beginning the October 1, 2019 Benefit Payment. We are excited to provide you with improvements including:
- A larger, easier to read font.
- The tri-fold, perforated page is being replaced with a standard 8 ½ by 11 inch page in a standard envelope. This standard sized page will be easier to file.
- Your Care Counsel healthcare advocate deduction no longer reads $0.00, it reads the amount that has always been deducted from your offset: $3.25
- The actual insurance premium amounts are now listed in the Deduction section, so you can see the actual cost of your premium. This amount now matches what is listed in our Open Enrollment booklet, our rate sheets, and is now an easy to find number you can use to know the true total cost of your insurance.
- The amount of your insurance subsidy, the amount your former employer pays to reduce your premium, is listed in the Deductions section as a negative amount, because it is reducing your cost
- A newly enhanced “Insurance Subsidy or HRA” section lists what your share of the monthly insurance premiums is, or, if you have a Health Reimbursement Arrangement Account, the HRA amount awarded to you for the month.
- A larger, easier to read Monthly Message center.
We hope you find the new Retirement Benefit Statement useful, and we look forward to continuing to improve our communications to you.