Town of Wawarsing, NY Chapter 22 Personnel Policies

[HISTORY: Adopted by the Town Board of the Town of Wawarsing: Art. I, 4-6-1995 as L.L. No. 1-1995.[1] Amendments noted where applicable.]

[1] Editor's Note: This local law superseded former Art. I, Retirement Incentive Program, adopted 9-3-1992 as L.L. No. 7-1992.

Article I Retirement Incentive Program

[Adopted 4-6-1995 as L.L. No. 1-1995]

§ 22-1 Authorization.

The Town of Wawarsing hereby elects to provide all its eligible employees with a retirement incentive program authorized by Chapter 12, Laws of 1995.

§ 22-2 Commencement date.

The commencement date of the retirement incentive program shall be June 1, 1995.

§ 22-3 Open period.

The open period during which eligible employees may retire and receive the additional retirement benefits shall be 90 days in length.

§ 22-4 Funding.

The employer will fund the retirement incentive program provided by Chapter 12, Laws of 1995, by paying to the New York State and Local Employees' Retirement System in five annual payments the amount which shall be determined by the retirement system actuary, the first payment for which is due December 15, 1996.