General Settlement Terms

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Economic Damages Awards

Gross economic1 loss
less: mitigation2 or replacement earnings
less: 30% settlement discount
plus: prejudgment interest calculated from the date of loss to the date of payment at a rate of 5% per year.

1Gross economic loss includes, where applicable, lost wages, lost pension benefits and lost health insurance or damages resulting from loss of health insurance coverage.

2Mitigation earnings include any unemployment compensation benefits received or earnings from alternative employment which you had during the lay-off period.

Economic damage awards will be paid for Class Members still employed in the State’s workforce, at the State’s option, either directly by check or in the form of an award of vacation pay and, in either case, will be paid out in equal yearly installments over four years. For Class Members who are no longer  employed in the State’s work force (or who do not receive vacation pay as an element of their annual compensation), economic damage awards will be paid in equal yearly installments over four years

 

Emotional Distress and Punitive Damages

Laid-Off and Currently working for the State:Ten vacation days and five personal days
 Laid-Off and not Currently working for the State: $1,500 (paid in two yearly installments)

Bumped Down and Currently working for the State: Four vacation days and three personal leave days
Bumped Down and not Currently working for the State: $700 (paid in two yearly installments)

Employed on 11/17/2002 but not impacted as above: 1.25 personal days or $100 if not currently employed by the State.