[HISTORY: Adopted by the Town Board of the Town of New Hartford 9-16-1992
by L.L. No. 6-1992. Amendments noted where applicable.]
GENERAL REFERENCES
Personnel policies — See Ch. 21.
[Amended 8-20-1997 by L.L.
No. 10-1997; 8-5-1998 by L.L.
No. 7-1998]
The Town of New Hartford elects to provide an early retirement incentive
program as authorized by Chapter 47, Laws of 1998, for eligible employees
of the Town of New Hartford.
[Amended 8-20-1997 by L.L.
No. 10-1997; 8-5-1998 by L.L.
No. 7-1998]
The commencement date of the early retirement incentive program shall
be October 1, 1998.
The open period during which eligible employees may retire and receive
the additional retirement benefit shall be 90 days in length.
[Amended 8-20-1997 by L.L.
No. 10-1997]
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 New Hartford for each employee who receives
the retirement benefits payable under this chapter.
[Amended 8-5-1998 by L.L.
No. 7-1998]
This chapter shall become effective immediately upon its filing in the
office of the Secretary of State.
