https://sleepyhollow.localarchives.org/files/original/98415cb2be00c61e82c59cd13b5c8a9d.pdf 3b74a90683d2b2fbddc89d9b31074ecd PDF Text Text A Public Hearing was held on August 6, 1991 at 8PM in Village Hall, 28 Beekman Avenue, North Tarrytown, New York to hear and consider comments to a proposed Local Law electing a Retirement Incentive Program as authorized by Chapter 178, Laws of 1991 for the eligible employees of the Village of North Tarrytown. Present: Mayor Frank Rey Sean Treacy Michael Hyland James Nazemetz John T. Hayes, Jr. Trustees Also Present: William T. Regan, Village Administrator Robert W. Spencer, Village Attorney Sanjay Shah, Deputy Treasurer Absent: Morris Alter James J. Timmings, III Trustees Public Hearing William Regan, Village Administrator, read the attached proposed local law. There were no comments from the public, therefore, Trustee Treacy moved to close the public hearing, seconded by Trustee Nazemetz and motion carried. William Regan commented that there are six employees eligible for this early retirement program and asked that the Trustees review the chart that was prepared by San jay Shah showing the estimated cost to the Village per year if this law were adopted. It is too soon to know exactly what the cost would be because it would depend on the number of eligible employees participating in the plan. In order to be cost effective, one of the positions must be eliminated once the person retires. Mayor Rey questioned the payout on accumulated sick time. Sanjay Shah stated that accumulated sick time is paid out whenever they decide to retire and that it is a contractual obligation. Trustee Treacy commented that this plan is just what the Village needs to cut costs especially if a higher paid employee retires and the position is eliminated. Sanjay Shah commented that this program will pay for itself in approximately two years. Trustee Hyland stated that the Village could not afford to reduce the work force at this time. He wanted more time to discuss this before a decision was made. The Administrator stated that a decision must be made by August 16, 1991. 1 �V After more discussion, Trustee Hyland moved to adjourn the Public Hearing, second by Trustee Treacy and carried. Trustee Nazemetz moved to call for a Special Meeting on Tuesday, August 13, 1991 at 7;00 PM for further discussion on this special legislation. Respectfully submitted, William T. Regan Village Administrator/Village Clerk \\ �a 'A 7 A LOCAL LAW electing a retirement incentive program as authorized by Chapter 178, Laws of 1991 for the eligible employees of the Village of North Tarrytown. BE IT ENACTED by the Village Board of the Village of North Tarrytown as follows: Section 1. The Village of North Tarrytown hereby elects to provide all its eligible employees with a retirement incentive program authorized by Chapter 178, Laws of 1991. 2.. The commencement date of the retirement incentive program shall be September 1, 1991. 3. The open period during which eligible employees may retire and receive the additional retirement benefit shall be ninety (90) days in length. 4. The actuarial present value of the additional retirement benefit payable pursuant to the provisions of this Local Law shall be funded over a five (5) year period. The amount of the annual payment in each of the five (5) years shall be determined by the Actuary of the New York State and Local Employee's Retirement System, and shall be paid by the Village of North Tarrytown for each employee who receives the retirement benefit payable under this Local Law. 5. This Local Law shall take effect immediately upon filing in the Office of the Secretary of State. I � Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Board of Trustees Meeting Minutes & Resolutions-1991 Text A resource consisting primarily of words for reading. Examples include books, letters, dissertations, poems, newspapers, articles, archives of mailing lists. Note that facsimiles or images of texts are still of the genre Text. Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource MINS_TRUST_1991-08-06 Subject The topic of the resource Board of Trustees Minutes-1991 Date A point or period of time associated with an event in the lifecycle of the resource 1991 Rights Information about rights held in and over the resource Village of Sleepy Hollow All Rights Reserved. Type The nature or genre of the resource Text