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(IV. Health Insurance continued) <br />Each employee is required to maintain a minimum coverage <br />for him/herself in a plan of their choice. In those <br />instances where the employee's medical insurance premium is <br />less than the City's monthly contribution, the difference <br />between said dollar amounts shall be in the form of a bi- <br />weekly cash disbursement. <br />V. OPTICAL PLAN <br />The City shall provide an optical plan as follows: <br />A. An annual vision examination up to $40.00 by a <br />licensed Ophthalmologist for the employee and eligible <br />dependents. <br />B. An annual amount of up to $100.00 towards lenses and <br />frames for employee and $50.00 towards lenses and <br />frames for dependents. If dependents do not require a <br />City -paid vision examination, City pays up to $90.00 <br />for lenses and frames. <br />VI. INSURANCE PREMIUMV INDUSTRIAL INJURY <br />The City will pay a maximum of three (3) months insurance <br />premiums for employees on leave of absence without pay due <br />to industrial injury. Payment of insurance premiums will <br />include health, dental, life and optical. <br />VII. TERM LIFE INSURANCE <br />The City shall provide all employees Term Life Insurance <br />coverage in the amount of $50,000 with the exception of the <br />City Manager who shall receive $100,000. <br />VIII. RETIREES' HEALTH INSURANCE PARTICIPATION <br />Persons serving in Executive Positions as of January 1, <br />1987, shall be eligible for retirement health insurance <br />pursuant to Resolution 4598 (attached at Attachment C and <br />incorporated herein by reference). All other Executive <br />employees shall not be eligible for retirement health <br />insurance pursuant to Resolution 4598 (See Resolution No. <br />R-33-87, attached and incorporated herein by reference as <br />Attachment D). They will be eligible for retiree health <br />insurance set forth below. <br />Members of the Executive Group who retire (service or <br />disability) from the City employ, may, at the retiree's <br />discretion, enroll in the City -provided health insurance <br />plan of the employee's choice. Employees who retire after <br />having served a minimum of 20 years with the City shall <br />have their, and their spouse's, premiums paid for by the <br />City up to medicare age. After the retiree reaches <br />medicare age, he/she can maintain health insurance with the <br />City, but the retiree must pay his/her, and his/her <br />spouse's, premiums. If the retiree is ineligible for <br />medicare benefits, the City will continue to pay the <br />premiums, as long as the employee remains insurance. <br />-2- <br />