NY S05782

Establishes a Hudson River Pilots Surcharge Board consisting of the president of the Board of Commissioners of Pilots of New York and the president of the Hudson River Pilots Association, with a third arbitrator appointed if the two members deadlock on decisions.

Implements a surcharge on all foreign and American vessels navigating the Hudson River north of Yonkers to fund retirement benefits for Hudson River pilots, with tiered surcharge rates ranging from $113-$280 for vessels under 100 pilotage units during the first 60 months after enactment.

Creates retirement benefit provisions for Hudson River pilots, including 12% contributions to retirement accounts for pilots hired after 2005, specified annual benefits for previously retired pilots ($34,995-$59,992 depending on retirement year), and disability insurance coverage.

Increases base pilotage rates for Hudson River vessel navigation in five phases over 48 months, with rates ranging from $12.17-$13.07 per pilotage unit for Lower River and $17.19-$18.42 per pilotage unit for Upper River sections.

Provides surviving spouse benefits equal to 50% of the deceased pilot's retirement benefit and establishes quarterly benefit payment periods beginning January 1, April 1, July 1, and October 1 of each year.