LIFE INSURANCE. Except under medical or other exceptional circumstances which make the purchase of life insurance benefits impracticable, management personnel shall receive the following types of life insurance coverage.

a.
Forty thousand dollar ($40,000) term life insurance for each person holding a management position, and
b.
Additional life insurance in the following amounts:
City Manager
$200,000
Department Heads and Public Safety Captains
$100,000
Assistant Finance Director, Leisure Services Program Supervisor, Horticulturist, Refuse Foreman, Streets Foreman, Public Works Foreman/Inspector/Engineering Tech, Water and Sewer Foreman/Water Plant Superintendent, Assistant Water Plant Superintendent, Income Tax Administrator, Human Resources Manager and Planning & Zoning Manager
$75,000

The reference to dollar amounts of life insurance coverage shall not preclude the purchase of additional life insurance and related products, including but not limited to annuity investments, to enhance the current life insurance program for management personnel. If an employee retires from city service and is immediately eligible to receive retirement benefits, the employee shall have the option to: 1) receive any cash values that may have accumulated on his or her behalf; 2) convert the benefits under the terms and conditions of the policy; or, 3) continue the existing benefits as his or her own policy.

Office personnel and clerical and support personnel shall be provided with $40,000 term life insurance for each person holding such a position.

Except as may be otherwise provided in an applicable collective bargaining agreement, all life insurance referred to in this Personnel Schedule shall be provided six months after the date of hiring, with the City Manager to have the authority to direct that it be provided at an earlier date within those first six months through a written memorandum to the Personnel Officer and the Finance Director.