[HISTORY: Adopted by the Board of Trustees of the Village of Massapequa Park: Art. I, 5-13-1974 as L.L. No. 3-1974; Art. II, 9-14-1992 as L.L. No. 6-1992, amended in its entirety 6-24-1996 as L.L. No. 9-1996. Subsequent amendments noted where applicable.]
GENERAL REFERENCES
Officers and employees — See Ch. 34.
Salaries and compensation — See Ch. 50.
[Adopted 5-13-1974 as L.L. No. 3-1974]
[Amended 8-22-1983 by L.L. No. 11-1983; 1-7-1991 by L.L. No. 1-1991]
Cash advances for attendance at municipal schools, conferences and similar functions may be made by the Village Treasurer for village officials in an amount as stated in the annual budget.
[Adopted 9-14-1992 as L.L. No. 6-1992; amended in its entirety 6-24-1996 by L.L. No. 9-1996]
The Incorporated Village of Massapequa Park hereby elects to provide all of its eligible employees with a retirement incentive program authorized by Chapter 30, Laws of 1996.
The open period during which eligible employees may retire and receive the additional retirement benefit shall be eighty-five (85) days in length.
The actuarial present value of the additional retirement benefits payable pursuant to the provisions of this Article shall be paid at one (1) lump sum or in five (5) 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 Incorporated Village of Massapequa Park for each employee who receives the retirement benefits payable under this Article.