§383-23.5 Retirement payments. (a) For any week with respect to which an individual is receiving a pension (which shall include a governmental or other pension, retirement or retired pay, annuity, or any other similar periodic payment) under a plan maintained or contributed to by a base period or chargeable employer (as determined under applicable law), the weekly benefit amount payable to the individual for the week shall be reduced (but not below zero):
(b) No reduction shall be made under this section by reason of the receipt of a pension if the services performed by the individual during the base period (or remuneration received for the services) for the employer did not affect the individual's eligibility for, or increase the amount of, the individual's pension, retirement or retired pay, annuity, or similar payment.
(c) Subsections (a) and (b) shall only apply to new claims filed with an effective date prior to July 1, 2005.
(d) With respect to new claims filed with an effective date beginning on or after July 1, 2005:
(e) Notwithstanding any provision under this section, the amount of any pension, retirement or retired pay, annuity, or other similar periodic payment under the Social Security Act or the Railroad Act of 1974 shall not result in a reduction of the weekly benefit amount payable to an individual under this section. [L 1980, c 117, §1; am L 1981, c 196, §1; am L 2005, c 106, §1]