CHAPTER 90G

RETIREMENT INCENTIVE PROGRAM

§ 90G.1 The Election

The Incorporated Village of Mineola hereby electrs to provide all of its eligible employees with a reitrement incentive program authoirzed by Chapter 86, Laws of 2000.

§ 90G.2 The Commencement Date

The commencement date of the retirmeent incentive program shall be September 11, 2000.

§ 90G.3 The Open Period

The open period during which eligible emplyees may retire and receive the additional retiremnet benefit shall be nienty (90) days in length.

§ 90G.4 The Benefits

`The actuarial present value of the addiitonal retirement benefits payable pursuant to the provisions of this local law shall be paid as one lump sum, or in five annual installments. The amount of the annual payment shall be determiend by the Actuary of the New York State and Local Employees' Retirement System, and it hsall be paid by the Incorproated Village of Mineola for ech employee who receives the retirement beenfits payable under this local law.

§ 90G.5 The Effective Date

This act shall take effect immediately upon being filed with the Secretary of State.

HISTORICAL NOTE

This Chapter was adopted by Local Law #34 of the year 2000 on 8/16/2000. Chapter number assigned editorially, Section number prefaced by Chapter number and catchlines added tom aintain Code format.