IN RE: the Claim of Martin W. BRAININ (1997)

Appeal from a decision of the Unemployment Insurance Appeal Board, filed October 11, 1995, which, inter alia, ruled that claimant's benefit rate should be reduced.

 After leaving his position as a technical writer for a contracting company, claimant received a lump-sum retirement payment which he rolled over into an individual retirement account in lieu of receiving a monthly annuity.   The retirement fund from which claimant was paid was fully financed by his employer.   After claimant had applied for and received benefits, the Unemployment Insurance Appeal Board rendered a decision ruling that his benefit rate would be reduced to reflect his receipt of the employer-funded retirement payment.   Claimant was also charged with a recoverable overpayment.   We affirm.  Labor Law § 600(7)(b) provides that benefit rates must be reduced by the amount of any employer-funded pension benefits.   This section applies whether such benefits are paid on a monthly basis or in the form of a lump sum (see, Matter of Chriscaden [Sweeney], 232 A.D.2d 803, 649 N.Y.S.2d 345;  Matter of Rolland [Eastman Kodak Co.-Sweeney], 232 A.D.2d 710, 648 N.Y.S.2d 184).   Accordingly, the Board's decision will not be disturbed.

ORDERED that the decision is affirmed, without costs.

MEMORANDUM DECISION.