§383-23.5  Retirement payments.  (a) For any week with respect to which an individual is receiving a pension (whichshall include a governmental or other pension, retirement or retired pay,annuity, or any other similar periodic payment) under a plan maintained orcontributed to by a base period or chargeable employer (as determined underapplicable law), the weekly benefit amount payable to the individual for theweek shall be reduced (but not below zero):

(1)  By one-half the prorated weekly amount of thepension if at least half but less than one hundred per cent of thecontributions to the plan were provided by the individual;

(2)  By the entire prorated weekly amount of thepension if paragraph (1) or paragraph (3) does not apply; or

(3)  By no part of the pension if the entirecontributions to the plan were provided by the individual, or by the individualand an employer (or any other person or organization) who is not a base periodor chargeable employer as determined under applicable law.

(b)  No reduction shall be made under thissection by reason of the receipt of a pension if the services performed by theindividual during the base period (or remuneration received for the services)for the employer did not affect the individual's eligibility for, or increasethe amount of, the individual's pension, retirement or retired pay, annuity, orsimilar payment.

(c)  Subsections (a) and (b) shall only applyto new claims filed with an effective date prior to July 1, 2005.

(d)  With respect to new claims filed with aneffective date beginning on or after July 1, 2005:

(1)  For any week with respect to which an individualis receiving a pension under a plan maintained or contributed to by a baseperiod or chargeable employer, the weekly benefit amount payable to theindividual for the week shall be reduced (but not below zero) by an amountequal to the amount of the pension which is reasonably attributable to thatweek.  For this paragraph to apply, the services performed for the employer bythe individual in the base period (or remuneration for the services) mustaffect eligibility for, or increase the amount of the pension; and

(2)  Paragraph (1) shall not apply to any pension ifthe individual has made any contribution to the plan maintained by the base periodor chargeable employer.

(e)  Notwithstanding any provision under thissection, the amount of any pension, retirement or retired pay, annuity, orother similar periodic payment under the Social Security Act or the RailroadAct of 1974 shall not result in a reduction of the weekly benefit amountpayable to an individual under this section. [L 1980, c 117, §1; am L 1981, c196, §1; am L 2005, c 106, §1]