Life Insurance Coverage Options. A. The Board of Trustees will provide life insurance for each employee. The insurance shall become effective on the date of hire and terminate at retirement or other termination of employment. Amount of insurance shall be one (1x) times the annual base pay to the nearest thousand. B. Option Up life insurance with rebate dollars or employee contribution to two (2x) times or three (3x) times the base salary average for life insurance coverage.
Appears in 4 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement, Collective Bargaining Agreement
Life Insurance Coverage Options. A. The Board of Trustees will provide universal life insurance for each employeeemployee of the bargaining unit. The insurance shall become effective on the date of hire and terminate at retirement or other termination of employment. Amount of insurance shall be is one (1x) times the employee’s annual base pay to the nearest thousand.
B. Option Up life insurance with rebate dollars or employee contribution to two (2x) times or three (3x) times the base salary average for life insurance coverage.
Appears in 2 contracts
Samples: Collective Bargaining Agreement, Collective Bargaining Agreement
