GROUP LIFE INSURANCE PLAN Basic Life Insurance. The District will continue to provide a Basic Group Life Insurance Policy (Basic Group) with accidental death and dismemberment provisions for each employee, equivalent to one (1) times the employee's annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000). Additional Life Insurance Employees are eligible to participate in Additional Life Insurance (Additional Life) which is a flat amount equal to one (1) times the employee's annual base earnings, two thousand and eighty (2,080) hours X base straight time hourly rate, rounded to the next higher even thousand dollars ($1,000) with accidental death or dismemberment provisions. Premiums for this coverage are paid fifty percent (50%) by the District and fifty percent (50%) by the employee. Coverage reduces thirty-five percent (35%) of the Additional Life amount at age sixty-five (65), fifty percent (50%) at age seventy (70), sixty-five percent (65%) at age seventy-five (75) and will remain at the thirty-five percent (35%) level until employee retires.
