Life Insurance Plan. The City pays the premiums for the following policies for each general management, supervisory, and professional employee: 1. A five-thousand dollars ($5,000) whole life policy, effective upon the completion of one (1) year of uninterrupted service. 2. A term life policy equal to the employee's annual salary rounded off to the nearest five hundred dollars ($500).
Appears in 4 contracts
Samples: Memorandum of Understanding, Memorandum of Understanding, Memorandum of Understanding
