[Adopted 8-7-2002 by L.L. No. 9-2002; amended in its entirety 8-30-2010 by L.L. No.
2-2010]
The Town of Fishkill hereby elects to provide all of its eligible
employees with the retirement incentive program authorized by Part
A of Chapter 105, Laws of 2010, of the State of New York. An eligible
employee who retires and receives the retirement benefits of Part
A of Chapter 105, Laws of 2010, of the State of New York may not also
receive the additional retirement benefits under Part B of Chapter
105, Laws of 2010, of the State of New York.
The commencement date of the retirement incentive program shall
be September 1, 2010.
[Amended 11-6-2010 by L.L. No. 4-2010]
The open period during which eligible employees may retire and
receive the additional retirement benefit shall be 90 days in length
from the commencement date.
[Adopted 8-30-2010 by L.L. No. 3-2010]
The Town of Fishkill hereby elects to provide all of its eligible
employees with the retirement incentive program authorized by Part
B of Chapter 105, Laws of 2010, of the State of New York. An eligible
employee who retires and receives the retirement benefits under Part
B of Chapter 105, Laws of 2010, may not also receive the additional
retirement benefits under Part A of Chapter 105, Laws of 2010, of
the State of New York.
The commencement date of the retirement incentive program shall
be October 1, 2010.
The open period during which eligible employees may retire and
receive the additional retirement benefit shall be 90 days in length
and shall end on December 29, 2010.
The actuarial present value of the additional retirement benefits
payable pursuant to the provisions of this article shall be paid as
one lump sum or in five annual installments. The amount of the annual
payment shall be determined by the actuary of the New York State and
Local Employees' Retirement System, and it shall be paid by the
Town of Fishkill for each employee who receives the retirement benefits
payable under this article.