LIFE INSURANCE

1. Group Term
   
   1.  Eligibility - All permanent full-time and permanent part-time employees who work at least 25 hours per week and their eligible dependents.  Date of eligibility is 45 days for permanent full-time employees and 180 days for permanent part-time employees.
   2.  Group Life Amount - 1 1/2 times annual salary rounded up to the next $1,000.  Amount is reduced by 35% at age 65-69.  Amount is reduced by an additional 15% at age 70+.
   3.  Accidental Death and Dismemberment - Same as Life Insurance.
   4.  Premium- paid by the Authority.
   5.  This coverage ceases at termination of employment unless it is converted from a group plan to an individual plan.  Individual conversion rates are substantially higher than those paid by the Authority under the group arrangement.
   
   
2. Supplemental Life
   
   1.  Eligibility - All permanent full-time and permanent part-time employees who work at least 25 hours per week and their eligible dependents.  Date of eligibility is 45 days for permanent full-time employees and 180 days for permanent part-time employees.  New employees have 30 days in which to enroll.  After that, including at Open Enrollment, must complete Declaration of Insurability.
   2.  Available in amounts of $15,000, $30,000, $60,000 and $100,000.
   3.  Premium - Paid by the employee as follows per month.
        Coverage Amount          Monthly Premium
        $  15,000                           $  3.90
        $  30,000                           $  7.80
        $  60,000                           $15.60
        $100,000                           $26.00
   4.  Coverage available and premiums for employees over 65 or 70 are reduced.
   5.  This coverage ceases at termination of employment unless it is converted from a group plan to an individual plan.  Individual conversion rates are substantially higher than those paid by the Authority under the group arrangement.
   
   
3. Dependent Life
   
   1.  Eligibility - same as Staywell.  Employees have 30 days in which to enroll their dependents.  After that, including at Open Enrollment, they must complete Declaration of Insurability.
   2.  Amount - Spouse - $10,000; Child 6 months to 21 years (or 25 years if full-time student) - $5,000; Child 14 days to 6 months - $100.
   3.  Premium paid by the employee - $2.76 per month.
   4.  This coverage ceases at termination of employment unless it is converted from a group plan to an individual plan.  Individual conversion rates are substantially higher than those paid by the Authority under the group arrangement.
   
   
4. Texas Life
   
   Permanent Term Life Insurance.  Employees retain coverage once they leave employment with the Authority.  Does not build cash value.
   1.  Eligibility - All permanent full-time and permanent part-time employees who work at least 25 hours per week and their eligible dependents.  Date of eligibility is 45 days for permanent full-time employees and 180 days for permanent part-time employees.  New employees have 30 days in which to enroll.  After that, including at Open Enrollment, must complete Declaration of Insurability.
   2.  Amounts - Varies depending on age of insured.
   3.  Premium - Determined by policy amount and age of insured.