Common use of Retiree Life Insurance Benefits Clause in Contracts

Retiree Life Insurance Benefits. 10 a. Amount of Life Insurance Coverage (1) To be eligible for retiree life insurance benefits, employees, regardless of age, 12 must have maintained at least 50% of their base salary as additional life 13 insurance coverage at the time of retirement to continue to be part of the 14 City’s life insurance program. All elections for additional life insurance 15 coverage must be in multiples of 50% of the base salary at the time of 16 retirement, not to exceed the additional insurance percentage elected as an 17 active employee at the time of retirement. (2) Upon attaining age 65, and having maintained additional life insurance 19 coverage, as described in 1.a., of this subsection, from retirement to age 65, 20 the city shall provide $10,000 of life insurance coverage.

Retiree Life Insurance Benefits. 10 6 a. Amount of Life Insurance Coverage Coverage 7 (1) To be eligible for retiree life insurance benefits, employees, regardless of 8 age, 12 must have maintained at least 50% of their base salary as additional 9 life 13 insurance coverage at the time of retirement to continue to be part of the 14 10 City’s life insurance program. All elections for additional life insurance 15 11 coverage must be in multiples of 50% of the base salary at the time of 16 12 retirement, not to exceed the additional insurance percentage elected as an 17 13 active employee at the time of retirement. . 14 (2) Upon attaining age 65, and having maintained additional life insurance 19 15 coverage, as described in 1.a., of this subsection, from retirement to age 65, 20 16 the city shall provide $10,000 of life insurance coverage.

Retiree Life Insurance Benefits. 10 3 a. Amount of Life Insurance Coverage Coverage 4 (1) To be eligible for retiree life insurance benefits, employees, regardless of age, 12 must 5 have maintained at least 50% of their base salary as additional life 13 insurance 6 coverage at the time of retirement to continue to be part of the 14 City’s life insurance 7 program. All elections for additional life insurance 15 coverage must be in multiples 8 of 50% of the base salary at the time of 16 retirement, not to exceed the additional 9 insurance percentage elected as an 17 active employee at the time of retirement. . 10 (2) Upon attaining age 65, and having maintained additional life insurance 19 coverage, 11 as described in 1.a., of this subsection, from retirement to age 65, 20 the city shall 12 provide $10,000 of life insurance coverage.