(a) Schedule.--The amount of life insurance for any eligible employee shall be based on the eligible employee's annual pay rate from the Commonwealth in accordance with a schedule to be submitted annually by the secretary for publication in the Pennsylvania Bulletin.(b) Reduction.--The amount of life insurance for any eligible employees 70 years of age or older shall be one-half the amount of life insurance provided under the schedule published under subsection (a).(c) Change in amount.--Any change in the amount of life insurance made necessary by a change in pay shall take effect on the next succeeding program anniversary.1929, April 9, P.L. 343, No. 176, art. XV-A, § 1503-A, added 2007, July 17, P.L. 141, No. 42, § 1.1, imd. effective.