Section 1.  Notwithstanding the provisions of paragraph (g) of Section 66 of Chapter 188 of the Acts of 2010, the City of Malden may, within 30 days of final approval of this act, establish an early retirement incentive program as established in said Chapter 188, subject to the following provisions:

The Mayor shall submit a plan to the public employee retirement administration commission for approval within 2 months after the effective date of this act;

Once the plan has been approved, the Mayor shall submit to the City Council for acceptance not later than the next meeting of the City Council at which the plan can practicably be submitted;

Publish and make available to employees the approved plan within 1 month after its acceptance by the City Council body;

Require employees to participate within 2 months of the plan’s publication;

Determine which applicants shall be allowed to participate in the program and notify them within 1 month of the application deadline; and Require that participating employees retire within 2 months of notification of acceptance. Section 2.  This act shall take effect on its passage.