The Town of Manlius hereby elects to provide all of its eligible
employees with a retirement incentive program authorized by Chapter
105 of the Laws of 2010, which eligible position include, but may
not be limited to, Director of Recreation.
The actuarial present value of the additional retirement benefits
payable pursuant to the provisions of this chapter 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 Manlius for each employee who receives the retirement benefits
payable under this chapter.