In 1939, upon the insolvency of its employee pension plan, the defendant City of Utica voluntarily joined the New York State Employees' Retirement System. To cover past service liability it was determined that the city would make an annual deficiency contribution at the rate of 25.033% of its payroll. Although the original deficiency contribution period was 30 years, the period was extended to 40 years to accommodate increased retirement benefits. In 1967, however, the city...
Let's get started
Welcome to the leading source of independent legal reporting
Sign on now to see your case.
Or view more than 10 million decisions and orders.
- Updated daily.
- Uncompromising quality.
- Complete, Accurate, Current.
