4390 - Group Term Life Insurance

Adoption Date: 05/01/2017

Revision History: Reviewed 12/14/2020

Basic Life Insurance:

A. The School District of Omaha shall provide group basic term life insurance for full-time employees in the amount of $25,000, effective the first of the month following 30 days of employment. Reduction of benefits will begin at age 70.

B. For those District employees subject to a collective bargaining agreement, if the collective bargaining agreement provides for a group basic term life insurance plan, the plan provided by the collective bargaining agreement governs.

C. An employee who retires after completing all contractual obligations and who elects to begin his/her voluntary retirement before August 31 of the year of his/her retirement will continue to be covered by the group term life insurance program until August 31 of the year of retirement, and the premiums will be paid in the same manner that they were paid prior to taking voluntary retirement.

Supplemental Life Insurance – Voluntary Employee, Spousal, and Dependent Child:

A. Fulltime employees shall be given the option to enroll for additional supplemental term life insurance with the employee paying the entire cost. Premiums will be paid through payroll deduction. Effective the first of the month following 30 days of employment. Reduction of benefits will begin at age 70.