(a) A death benefit as set forth in the schedule below shall be paid to the designated beneficiary of all full-time employees of the Court upon death, providing such death occurs after the employee has completed the probationary period. All full-time employees in Salary Groups 1 through 15, E1 through E4, and including full-time Magistrates shall be granted insurance coverage one and one half (1½) times their annual salary. Annual salary shall be calculated using the rate in place at the date of death. Sitting Judges, meaning all judges currently holding judicial office by reason of election or gubernatorial appointment, and the Clerk of Court shall be granted fifty thousand ($50,000.00) dollars insurance coverage.
(b) Each employee shall furnish the City with a designation of beneficiary. In the event the employee fails to designate a beneficiary, then the benefit shall be paid in accordance with the inheritance laws of the State of Ohio.
(c) Employees shall be permitted to convert this benefit at the time of their retirement from the City at their own expense.
(d) The Mayor shall be authorized to enter into in an agreement or agreements with a qualified insurance carrier or carriers to provide said death benefits herein set forth for Court officials and Court employees upon compliance with established City bidding procedures. The Director of Finance shall be authorized to issue his or her warrant or warrants in those amounts necessary to pay the cost of said death benefit insurance.