[HISTORY: Adopted by the Town Board of the Town of Urbana 8-18-1998 by L.L. No. 2-1998. Amendments noted where applicable.]
Officers and employees — See Ch. 16.
The Town of Urbana hereby elects to provide all of its eligible employees with the 1998 Retirement Incentive Program authorized by Chapter 47, Laws of 1998 of the State of New York.
The commencement date of the 1998 Retirement Incentive Program for the Town of Urbana shall be October 3, 1998.
The open period during which eligible employees way retire and receive the additional retirement benefit shall be 90 days in duration.
The employer will fund the 1998 Retirement Incentive Program provided under Chapter 47, Laws of 1998 of the State of New York, by paying to the New York State and Local Employees' Retirement System, in five annual installments, the amount of which shall be determined by the Retirement System Actuary, and the first payment for which shall be due December 15, 1999.