Citrus Wealth Article by
Wealth Manager, RJFS
Medical benefits can be confusing. The mix of unique terminology and specialized circumstances can alone raise one’s blood pressure! The following points seek to provide clear and concise explanations to each category of benefits.
SCE will pay for 85% of the lowest cost plan available to you. If selecting a more expensive plan, you will be required to pay the difference above the SCE subsidy.
SCE will pay for 50% of the lowest cost plan available in 2008 (Kaiser’s Plan). Again, if selecting a more expensive plan, you will be required to pay the difference above the SCE subsidy.
Medically Grandfathered Employees
A small minority of cash-balance employees are also “medically grandfathered”. We always recommend that you confirm the details of your situation (before you retire) with EIX Benefits at 1-866-693-4947.
SCE Sick Time
Payment for illness leave varies among employee classifications. The following statements provide further information regarding compensation for any unused sick time.
These individuals do not receive payment for their unused sick time upon retirement.
Edison employees meeting these standards receive 20% of their unused sick time when retiring.
Non-Union & Union/Grandfathered Employees
Grandfathered employees, whether a union member or not, are paid 20% of their unused sick time at retirement.
All employees will have unused vacation time paid out upon retirement. This will be included in your last paycheck from SCE.
We're Here to Help
Retirement is both exciting and intimidating. Jeff Marvin, President of Citrus Wealth and wealth manager with Raymond James Financial Services, has twenty-two years of experience helping SCE employees through this process. Call us to book an appointment, and we’ll help you along the journey towards a fruitful retirement.
1461 Ford Street, Suite 103
Redlands, California 92373
Citrus Wealth and Raymond James Financial Services are not affiliated with Southern California Edison (SCE). SCE has neither approved nor endorsed this information.
Securities offered through Raymond James Financial Services, Inc., Member FINRA/SIPC. Investment advisory services are offered through Raymond James Financial Services Advisors, Inc. Citrus Wealth Management is not a registered broker dealer and is independent of Raymond James Financial Services.