by the AFFORDABLE CARE ACT that he/she is covered under another health insurance plan shall be entitled to compensation equal to 25% of the annual insurance premium which would have been paid by the city on behalf of the employee. In order to qualify, an employee must be eligible at the start of the benefit year and may not be enrolled in the City’s health insurance plan during any portion of the benefit year. Payment under this program shall be made at the conclusion of the benefit year.
LIFE INSURANCE. Except under medical or other exceptional circumstances which make the purchase of life insurance benefits impracticable, management and salaried personnel shall receive the following types of life insurance coverage.
| City Manager | $200,000 |
| Department Heads, Assistant Public Works Director/City Engineer and Public Safety Captains | $100,000 |
| Assistant Finance Director, Recreation Supervisor, Horticulturist/Arborist/Foreman, Refuse Foreman, Streets Foreman, Utility Foreman, Water Plant Superintendent, Income Tax Administrator, Code Enforcement Officer and Facility Supervisor. | $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 and salaried 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.
Administrative, office, 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.
I hereby certify that this Amended Personnel Schedule is a true and correct compilation of the Personnel Schedule and all amendments thereto previously enacted by the Council for the city of Oakwood.