As GAC 50 was administered, amounts recorded in the Pension Administration Fund were used to provide retirement benefits to Sperry employees in other ways. The Mc Carran-Ferguson Act - which provides, among other things, that no federal "Act . Agreed Statement of Facts §§ 33, 36-37, 42, id., at 89-91. To help fulfill ERISA's broadly protective purposes, 5 Congress commodiously imposed fiduciary standards on persons whose actions affect the amount of benefits retirement plan participants will receive. Improving the states economic competitiveness is the only real mechanism for restoring the Empire State.Renewed economic growth will provide revenues necessary to finance essential government functions, and allow the state to re-invest in areas crucial to supporting private sector investment: transportation infrastructure, higher education and others.The underlying theme and elements of the definitions presented here are based in standard appraisal theory.Many terms are used to describe various thoughts or premises of value.In other cases, the laws of a country, state, region, or regulatory agency may require other terms, which therefore would take precedence over the definitions shown here.
50 (GAC 50), an agreement of a type known as a "participating group annuity." Under such a contract, the insurer commingles with its general corporate assets deposits received to secure retiree benefits, and does not immediately apply those deposits to the purchase of annuities. In 1977, Sperry Plan trustee Harris obtained the right to direct Hancock to use the free funds to pay "non-guaranteed benefits" to retirees. The obligations of an ERISA fiduciary are described in 29 U.
Fair market value – installed is an opinion, expressed in terms of money, at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts, considering market conditions for the asset being valued, independent of earnings generated by the business in which the property is or will be installed, as of a specific date.
Fair market value – removed is an opinion, expressed in terms of money, at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell and both having reasonable knowledge of relevant facts, considering removal of the property to another location, as of a specific date.
In short, even as New York continues its long record of underperforming the nation in terms of job creation and new investment, its budget and policy actions have produced an even less competitive economic climate.
The state desperately needs to bring its financial house in order to provide broad-based tax relief at the state and local level, and needs to adopt policies and programs that promote private sector reinvestment in key growth sectors that result in new jobs and new opportunities for all New Yorkers.