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The buildings are designed to meet or exceed NYSER DA's energy-efficiency standard as well as the LEED for Homes Platinum rating.
On May 18, 2010, prior to completing the financial restructuring, the Company was notified by NYSER that it had regained compliance with NYSE's 30-trading-day $1 minimum share price standard for continued listing of its common stock, and the Company expects to remain in compliance with this standard as a result of the financial restructuring.
While the Company seeks to continue the NYSE listing of its common stock, there can be no assurance that NYSER will not take delisting actions against it, and there can be no assurance that the Company's common stock will continue to be listed on the NYSE.
On December 29, 2008, the Company was first notified by NYSER that, in addition to not being in compliance with this criterion, the Company also was not in compliance with the total market capitalization requirement of at least $50 million over the same consecutive 30 trading day period.
The NYSE requires notification from the Company within 10 business days of the date of the NYSER notice of the Company's intent to cure the noncompliance or it will be subject to suspension and delisting procedures.
Under the NYSE's rules, the Company has six months from the date of the NYSER notice to cure this deficiency before the NYSE will initiate suspension and delisting procedures.
42) In 1922, concern about funding levels led the legislature to forbid any city or county from creating additional individual retirement systems and to reorganize all of the State plans that were exempted from the 1920 legislation into the NYSERS.
48) In contrast, the oldest employees in the system today contribute nothing at all and most NYSERS employees contribute only 3% of their salary for their first ten years of work, (49) leading to total employee contributions in 2012 of about $273 million, compared to about $4,585 billion in employer contributions, a ratio of greater than 16:1.
The formula for final average salary remained mostly the same for Tier III and IV members, although a 3% employee contribution was reintroduced for the first ten years of membership in NYSERS beginning with Tier III.
with the discretion to allow local employers in NYSERS and NYSPFRS to amortize contributions to the fund over ten years to the extent their required contribution rates exceed 9.
16) NYSERS and NYPFRS cover a combined 679,217 active workers and 375,803 pensioners and retirees, equal to just fewer than half of the total of the city and state pensions systems combined.
As of April 1, 2011, the funded ratio of NYSERS was 90.