The amount of post-retirement life insurance is based on the annual salary to which the participant was entitled immediately before the CAF effective date of release. For insurance purposes, the final salary is the annual salary adjusted to the next highest multiple of $250.
The life insurance coverage is equal to the following:
Year after Retirement |
% of Adjusted Annual Salary |
First |
100% |
Second |
75% |
Third |
50% |
Fourth (and life thereafter) |
25% |