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�0.1 . . <br /> � <br /> � <br /> If, as a result of such law, the level of benefit� provided by such law for any <br /> group of employees, or their dependents, is lower in certain categories of <br /> services than that provided under the existing major pian, the �ty shall, to the " <br /> extent practical, provide a plan of benefits suppiementary to the federai or state <br /> benefits so as to make benefits in each category of coverage as nearly <br /> comparable as possibie to the benefits provided under the existing major plan. <br /> The City need only exp�nd for this purpose the actual amount required to <br /> achieve parity between the benefits provided under any federal or state pian as <br /> supplemented in the manner hereinabove described. In no event shall the City <br /> be required to expend for such purposes an amount which when added to the <br /> contributions or taxes required of the City under the federal or state act, shall <br /> exceed the amounts paid at the time such legislation becomes effective. <br /> If the benefits provided under the federal or state act exceed the benefits <br /> provided hereunder in each category of coverage, the City shall be under no <br /> further obligation to make any contribution. <br /> e. Life Insurance - The City shall offer to eligible employee's life insurance equal <br /> to one and one-half (1-1/2) times the employee's annual salary. <br /> f. Lona Term Disabilitv - The City will contract with Lincoln National to provide <br /> Long Term Disability Insurance for Exec�tive Management employees. The City, <br /> for the term of this agreement, will pay the full cost of the basic rate (basic rate <br /> provides for up to a$3,000 maximum monthly payout). A buy-up option will be <br /> incl�..ded to offer the employee the opportunity to increase their coverage, at <br /> the� own expense, up to an additional $3,OOC .nonth�� �ayout. The total <br /> ma� mum monthly payout available will be $6,000. <br /> g. Sor a6 Secu ' - In the event the City and it� employees are required to <br /> par �i� 3te in the Federal Social Security Program, the contribution designated by <br /> law �o �e the responsibility of the employee shall be paid in full by the employee <br /> � and th City shall not be obligated to pay or "pick up" any portion thereof. <br /> h. COBR-� - The City may cause employees not entitled to the benefits set forth in <br /> this A� �icle who are allowed to remain on a City health insurance plan following <br /> �epar��ion from employment pursuant to the Consolidated Omnibus Budget <br /> Reconciliation Act of 1985 (COBRA) to be charged for such coverage at the <br /> maximum rate permissible by law (presently 102% of the premium for an active <br /> employee). <br /> io <br />