Common use of Life Insurance Plan Clause in Contracts

Life Insurance Plan. The City shall pay one hundred percent (100%) of the premium for a term life insurance policy for each eligible employee in the amount of $50,000. A. The City will pick up the cost of rate increases that occur within the Life Insurance Plan for the duration of the current MOU contract, through 6/30/2021.

Appears in 1 contract

Samples: Memorandum of Understanding

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Life Insurance Plan. The City shall pay one hundred percent (100%) of the premium for a term life insurance policy for each eligible employee in which shall be based upon a formula of one times the amount employee's annual salary rounded up to the nearest thousand dollars up to a maximum City paid coverage of $50,00050,000 (i.e. an employee who earns $40,100 would receive $41,000). A. The City will pick up the cost of rate increases that occur within the Life Insurance Plan for the duration of the current MOU contract, through 6/30/20216/30/21.

Appears in 1 contract

Samples: Memorandum of Understanding

Life Insurance Plan. The City shall pay one hundred percent (100%) % of the premium for a term life insurance policy for each eligible employee in which shall be based upon a formula of one times the amount employee's annual salary rounded up to the nearest thousand dollars up to a maximum City paid coverage of $50,00050,000 (i.e. an employee who earns $40,100 would receive $41,000). A. The City will pick up the cost of rate increases that occur within the Life Insurance Plan for the duration of the current MOU contract, through 6/30/20216/30/21.

Appears in 1 contract

Samples: Memorandum of Understanding

Life Insurance Plan. A. The City shall pay one hundred percent (100%) of the premium for a term life insurance policy for each eligible employee in the amount of $50,000 for each eligible employee. which shall be based upon a formula of one times the employee's annual salary rounded up to the nearest thousand dollars up to a maximum City paid coverage of $50,000, i.e., an employee who earns $20,100.00 would receive $21,000.00. A. B. The City will pick up the cost of rate increases that occur within the Life Insurance Plan for the duration of the current MOU contract, through 6/30/20216/30/2016 6/30/2019.

Appears in 1 contract

Samples: Memorandum of Understanding

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Life Insurance Plan. The City shall pay one hundred percent (100%) of the premium for a term life insurance policy for each eligible employee in which shall be based upon a formula of one times the amount employee's annual salary rounded up to the nearest thousand dollars up to a maximum City paid coverage of $50,00050,000 (i.e. an employee who earns $40,100 would receive $41,000). A. The City will pick up the cost of rate increases that occur within the Life Insurance Plan for the duration of the current MOU contract, through 6/30/20216/30/24.

Appears in 1 contract

Samples: Memorandum of Understanding

Life Insurance Plan. The City shall pay one hundred percent (100%) of the premium for a term life insurance policy for each eligible employee in the amount of $50,000. A. The City will pick up the cost of rate increases that occur within the Life Insurance Plan for the duration of the current MOU contract, through 6/30/20218/31/20166/30/2020.

Appears in 1 contract

Samples: Memorandum of Understanding

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