[HISTORY: Adopted by the Town Board of the Town of Harrison 8-7-1991 as L.L. No. 2-1991. Amendments noted where applicable.]
Village retirement incentive program — See Ch. 12.
The Town of Harrison hereby elects to provide all its eligible employees with a retirement incentive program authorized by Chapter 178, Laws of 1991.
The commencement date of the retirement incentive program shall be August 8, 1991.
The open period, during which eligible employees may retire and receive the additional retirement benefit, shall be 79 days in length, from August 8, 1991, to October 25, 1991, inclusive.
The actuarial present value of the additional retirement benefits payable pursuant to the provisions of this chapter shall be funded over a five-year period. The amount of the annual payment in each of the five years shall be determined by the actuary of the New York State Employees' Retirement System, and it shall be paid by the Town of Harrison for each employee who receives the retirement benefits payable under this chapter.