N.Y. Public Authorities Law 1020-E – Officers and employees; expenses
* § 1020-e. Officers and employees; expenses. The board, or the chairman pursuant to authority duly delegated to him, from time to time shall hire, without regard to any personnel or civil service law, rule or regulation of the state and in accordance with guidelines adopted by the authority such employees and consultants, including without limitation those in the areas of engineering, marketing, finance, appraisal, accounting and law, as it may require for the performance of its duties and shall prescribe the duties and compensation of each officer and employee, provided, however, that if any such employees are hired as a consequence of an acquisition of all the stock or assets of LILCO, they shall be hired subject and be entitled to all applicable provisions of (i) any existing contract or contracts with labor unions and (ii) all existing pension or other retirement plans. Notwithstanding the provisions of any general, special or local law, the board may determine that, if any pension or retirement plan becomes inapplicable or is terminated, all or such class or classes of employees of the authority as the board may determine may elect to become members of the New York state employees' retirement system on the basis of compensation payable to them by the authority.
Terms Used In N.Y. Public Authorities Law 1020-E
- Appraisal: A determination of property value.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
* NB There are 2 § 1020-e's