Optional Plan. Each employee may apply for an additional one hundred thousand dollars ($100,000) Group Life and one hundred thousand dollars ($100,000) Accidental Death and Dismemberment Insurance. This insurance requires medical evidence of insurability from each applicant and coverage will become effective only with the written approval of the insurer. No employee shall have present benefits reduced by a change in carrier.
Optional Plan. A. An additional $10,000 life with AD & D.
Optional Plan. The Optional Plan is a defined contribution plan and is intended to meet the qualification requirements of Section 401(a) of the Internal Revenue Code of 1986. The University will make contributions each year to your account in the Optional Plan. You will have the ability to direct the investment of your account among the Optional Plan’s selected investment options. The benefits to be provided through the Optional Plan are not the obligations of the State of Oklahoma but are the obligation of the University. The only benefit to be provided under the Optional Plan is the vested portion of contributions (and investment earnings thereon) made to the Plan by the University. All contributions by the University are fully vested after three consecutive years of service in the plan.
Optional Plan. Each employee may apply for up to an additional $300,000.00 Group Life and $300,000.00 Accidental Death and Dismemberment Insurance. The Optional Group Life insurance requires medical evidence of insurability from each applicant and coverage will become effective only with the written approval of the insurer. No employee shall have their present benefits reduced by a change in carrier.
Optional Plan. Lump sum payment of 75% of accrued sick leave with a maximum of $l8,000.00.
