§ 44A-17. Payments.

Latest version.

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 North Hempstead for each employee who receives the retirement benefits payable under this article.

                    
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