Common use of LIFE INSURANCE AT RETIREMENT Clause in Contracts

LIFE INSURANCE AT RETIREMENT. Life Insurance (2 times the annual basic earnings of the Employee at the time of retirement rounded to the nearest one thousand dollars). Upon reaching the age of 65, the City (HSR) will maintain a $5,000 death benefit for those Employees who were eligible for this benefit prior to the ratification of this agreement.

LIFE INSURANCE AT RETIREMENT. Life Insurance (2 times the annual basic earnings of the Employee at the time of retirement rounded to the nearest one thousand dollars). Upon reaching the age of 65, the City (HSR) will maintain a $5,000 death benefit for those Employees who were eligible for this benefit prior to the ratification of this agreement. Co-ordination of benefits and positive enrolment will be mandatory. If an Employee does not complete enrolment, benefit coverage will be suspended for that Employee and their dependants until the positive enrolment obligation has been completed.