[HISTORY: Adopted by the Town Board of the Town of Crawford 8-29-2002 by L.L. No. 8-2002. Amendments noted where applicable.]
The Town of Crawford hereby elects to provide all of its eligible employees with a retirement incentive program authorized by Chapter 69, Laws of 2002, of the State of New York, and as follows:
A. 
The commencement date of the retirement incentive program shall be October 7, 2002.
B. 
The open period during which eligible employees may retire and receive the additional retirement benefit shall terminate on December 31, 2002.
C. 
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 should be paid by the Town of Crawford for each employee who receives the retirement benefits payable under this chapter.