OLD WESTBURY - After 40 years of service, former Old Westbury Police Chief Daniel Duggan is walking away with more than $1 million in retirement pay.

Village records obtained by Newsday show Duggan cashed out hundreds of sick, vacation, comp and personal days for a total retirement payout of $1,061,937. On top of that, he will also get a $14,800 monthly pension.

State records show Old Westbury reported only 40 crimes in 2013. Some residents in the village told News 12 that they will pay the taxes to keep their officers on the beat and the crime down.

"To me they are worth every penny," said Liz Heller.

Tim Hoefer, from the Empire Center for Public Policy in Albany, says the pension system for municipal employees that allows for these gigantic payouts is contributing to ever-rising taxes on Long Island.

"People should be very concerned about this because this is your money," said Hoefer.

Calls to Duggan and the village of Old Westbury for comment on this story were not returned.

Old Westbury Mayor Fred Carillo says the village budgeted for Duggan's retirement package, and it didn't put a strain on finances, Newsday reports.