Town of Fishkill, NY
Dutchess County
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Table of Contents
Table of Contents
[HISTORY: Adopted by the Town Board of the Town of Fishkill as indicated in article histories. Amendments noted where applicable.]
[Adopted 8-7-2002 by L.L. No. 9-2002; amended in its entirety 8-30-2010 by L.L. No. 2-2010]
The Town of Fishkill hereby elects to provide all of its eligible employees with the retirement incentive program authorized by Part A of Chapter 105, Laws of 2010, of the State of New York. An eligible employee who retires and receives the retirement benefits of Part A of Chapter 105, Laws of 2010, of the State of New York may not also receive the additional retirement benefits under Part B of Chapter 105, Laws of 2010, of the State of New York.
The commencement date of the retirement incentive program shall be September 1, 2010.
[Amended 11-6-2010 by L.L. No. 4-2010]
The open period during which eligible employees may retire and receive the additional retirement benefit shall be 90 days in length from the commencement date.
[Adopted 8-30-2010 by L.L. No. 3-2010]
The Town of Fishkill hereby elects to provide all of its eligible employees with the retirement incentive program authorized by Part B of Chapter 105, Laws of 2010, of the State of New York. An eligible employee who retires and receives the retirement benefits under Part B of Chapter 105, Laws of 2010, may not also receive the additional retirement benefits under Part A of Chapter 105, Laws of 2010, of the State of New York.
The commencement date of the retirement incentive program shall be October 1, 2010.
The open period during which eligible employees may retire and receive the additional retirement benefit shall be 90 days in length and shall end on December 29, 2010.
The actuarial present value of the additional retirement benefits payable pursuant to the provisions of this article 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 Fishkill for each employee who receives the retirement benefits payable under this article.