Continuing Education Reimbursement Policy

Objective

The CIM-LRD offers educational reimbursement benefits to its contractor members for professional development of their employees by providing financial assistance for certain education-related expenses.  This benefit is intended to encourage professionalism and assist members’ employees in increasing effectiveness in their current position, preparing employees for possible advancement, and/or increasing an employee’s adaptability to new ideas and change.

Professional Training and Development

Periodically, it is necessary for individual employees or groups of employees to take job-related training courses that may or may not be part of a degree program. This can enhance an employee’s value to the company, keep the employee up-to-date on the latest trends and technologies and knowledge, and offer a greater chance to interact with peers.

Training and development goals and specific courses are identified in conjunction with the employee’s supervisor, as part of an employee’s development plan, and can include a variety of courses from an array of sources. The CIM-LRD will reimburse 50% of the total cost of the program, including related expenses (education materials, registration fees and continuing ed).

Tuition Reimbursement

The CIM-LRD reimburses 50% of the costs for degree/certificate programs associated with business-related coursework. Determination of reimbursement is based on the following criteria:

  • Length of service with the employer (minimum of one consecutive year not on probationary status).  Exceptions may occur at the Education Committee’s discretion.
  • Applicability of the degree or certificate program to the job and/or future positions in the organization.
  • Statement from the candidate regarding purpose, intentions and personal commitment.

If reimbursement is approved, the following criteria apply:

Classes may be taken at a community college or state college or certification licensure organizations.    

Course work must meet requirements for an associate’s, bachelor’s or master’s degree or a job-related advanced certificate program.  A Certification and Licensing (C&L) Program is a program through which an employee obtains professional license or certification as a result of passing a uniform examination such as a CPA, NETTCP, PHR, PE.  The C&L benefits under this plan may allow time and expense reimbursement for the preparation for and taking of an exam required to obtain a company-approved certification or license.

Reimbursement will be provided pending the completion of the course or the attendance at a program.  Reimbursement will be provided to candidates who receive a grade of “B” or better or attend a program in its entirety where no grades are given.

Reimbursement Limits

The CIM-LRD will reimburse each contractor member 50% of total tuition costs, subject to pre-approval of each course/program.

The CIM-LRD will reimburse each contractor member up to $15,000 per year, subject to pre-approval of each course/program.

There will be a reimbursement limit of $5,000 per employee of each contractor member per year.

Reimbursement is contingent upon the contractor member providing documentation of the employee’s completion of the program and attaining a minimum “B” grade (where grades are given).

This program will be run on a first-come, first-served basis.  Once the annual budget runs out, this reimbursement program will not be available until the following year.

Ineligible Fees and Expenses

Not all expenses related to a degree program or non-degree course are eligible for reimbursement.  Ineligible fees and expenses include:

  1. Ineligible Course: 
    • Recreation or leisure time course such as golf are not covered.
    • Dale Carnegie, Evelyn Wood Reading Dynamics and other similar programs are not covered under continuing education reimbursement.
    • Preparation courses to prepare for an exam that is required to attend graduate school, including but not limited to, GMAT/GRE test-prep course.
    • Education programs sponsored by CIM LRD - e.g. FMI Emerging Managers 2-day program, etc.
  2. Optional Supplies: The cost of materials, instruments, supplies, or equipment are not reimbursable unless they are included as an indistinguishable part of the total cost of the course.
  3. Optional Fees: Fees charged as the result of the institution providing services not automatically assessed or related to the enrollment in and completion of a course or degree. Optional fees also include charges for expenses that are the result of employee choice or negligence (optional admin fees, donations to academic causes, parking fees or tickets for improper parking, student activity fee, etc.)

Reimbursement Deadline

Reimbursement requests must be submitted no later than six months following completion of the course.  A reimbursement request that is submitted more than 6 months following course completion is not eligible for reimbursement.