NY S01410

Prohibits employers from reducing or diminishing employee welfare benefits that participants received or were eligible for at the time of their retirement.

Declares any reduction in such benefits null and void as against state policy, regardless of other state laws.

Defines "employer" to include public, private, not-for-profit entities, individuals, and employee organizations engaged in any trade or occupation employing workers in New York State.

Defines "participant" as any former employee or member of an employee organization eligible to receive benefits from a welfare benefit plan covering employees of that employer or organization.

Takes effect ninety days after becoming law.