[HISTORY: Adopted by the Town Board of the Town of Niskayuna
as indicated in article histories. Amendments noted where applicable.]
GENERAL REFERENCES
Officers and employees — See Ch. 27.
[Adopted 8-31-2010 by L.L. No. 8-2010]
The Town of Niskayuna hereby elects to provide certain eligible employees with a retirement incentive program (Part A) authorized by Chapter 105 of the laws of 2010, of which the titles and number of positions for such titles for the eligible employees are attached hereto.[1]
[1]
Editor's Note: The titles and number of positions are
on file in the Town offices.
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 benefits, shall be thirty days
in length.
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 Niskayuna for each employee who receives the retirement benefits
payable under this article.
