§ 48-4. Payments.

Latest version.

The actuarial present value of the additional retirement benefits payable pursuant to the provisions of this chapter shall be funded over a five-year period. The amount of the annual payment in each of the five years shall be determined by the actuary of the New York State Employees' Retirement System, and it shall be paid by the Town of Hempstead for each employee who received the retirement benefits payable under this chapter.

                    
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