The Town of Warwick hereby elects to provide all of its eligible
employees with a retirement incentive program authorized by Chapter
105, Laws of 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 shall be paid by the Town
of Warwick for each employee who receives the retirement benefits
payable under this article.
The Town of Warwick hereby elects to provide all of its eligible
employees with a retirement incentive program authorized by Chapter
105, Laws of 2010.
The open period, during which eligible employees may retire and receive
the additional retirement benefits, 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 shall be paid by the Town
of Warwick for each employee who receives the retirement benefits
payable under this article.