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Attachment B - Proposed Voluntary Life Insurance & AD&D Benefit Enhancement

Palo Alto City Council
March 17, 2025

Document
Attachment B - Proposed Voluntary Life Insurance & AD&D Benefit Enhancement
Meeting
March 17, 2025
Body
Palo Alto City Council
Original file
237 KB
Text extracted from the city's file for reading and search. Open the original on cityofpaloalto.primegov.com. That file is the official record.

Attachment B: Proposed Voluntary Life Insurance & AD&D Benefit Enhancement Plan Current Benefit Proposed Benefit
Employee Voluntary Life Non-Management Employees All Benefit Eligible Employees Insurance & AD&D Voluntary Life 1x Annual Voluntary Life 1x or 2x Annual Compensation to a maximum of Compensation to a
$325,000. maximum of $500,000.

Basic AD&D Benefit 1x Annual Basic AD&D Benefit 1x or 2x Compensation to a maximum of Annual Compensation to a
$325,000. maximum of
$500,000.

Management Employees
Voluntary Life 1x or 2x Annual
Compensation to a
naximum of $325,000.

Basic AD&D Benefit 1x or 2x Annual
Compensation to a maximum of
$325,000.

Spousal Voluntary Life Spousal voluntary life insurance All Benefit Eligible Employees Insurance benefit is currently not provided Maximum benefit capped at $250,000
Children Voluntary Life Children voluntary life insurance All Benefit Eligible Employees Insurance benefit is currently not provided Maximum benefit capped at $10,000

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