HomeMy WebLinkAbout1996_8_14_Local_Law_No_7 LOCK Law Filing NEW YORK STATE DEPARTMENT OF STATE
152 WASHINGTON AVENUE, ALBANY, NY 12231
(Use this form to file a local law with the Secretary of State.)
Text of law should be giv-i as amended. Do not include matter being eliminated and do not
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use italics or underlining to indicate new matter.
anw Mamaroneck
Townof ...............................................................................................I........................
XIUWOYX
Local Law No. ............... ................................... of the year 19 91....
A local law ...."Retirement Incentive Program"
......................................................................................................................................
Insert Fitle�
Be it enacted by the Town Board .....of the
......... .............................................................................................
(Name of Legialative Body)
lr +X Mamaroneck as follows:
Townof ................ ................................................................................................................................
YOW
A Local Law electing a retirement incentive program as authorized by Chapter 178,
Laws of 1991 for the eligible employees of the Town of Mamaroneck.
Be it enacted by the Town Board of the Town of Mamaroneck as follows:
Section 1. The Town of Mamaroneck hereby elects to provide all its eligible
employees with a retirement incentive program authorized by Chapter 178, Laws
of 1991.
§2. The commencement date of the retirement incentive program shall be
October 1, 1991.
§3. The open period during which eligible employees may retire and receive
the additional retirement benefit, shall be ninety (9€3) days in length.
§4. The actuarial present value of the additional retirement benefits payable
pursuant to the provisions of this local law 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 and Local Employees' retirement
System, and it shall be paid by the Town of Mamaroneck for each employee who
receives the retirement benefits payable under this local law.
§5. This act shall take effect upon filing with the State of New York.
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DOS-239 (Rev. 7/90)