In re the Claim of Lipsky

This is an appeal by the Industrial Commissioner from a decision of the Unemployment Insurance Appeal Board, *96filed February 16, 1972, which ruled that claimant’s benefit rate should not. be reduced, pursuant to .section 600 of the Labor Law.

Claimant had worked as a general office clerk for Burnham & Company for 18 years when, on May 29, 1970, his employment was terminated. Shortly thereafter, he applied for and received benefits under a retirement plan financed solely by his employer. Entitled under the plan to a monthly payment of $201.38 for the balance of his life, he opted instead for a…