Department of Civil Service

PA06-13

TO: Participating Agency Health Benefit Administrators
FROM: Robert W. DuBois, Director of the Employee Benefits Division
SUBJECT: Empire Plan Quarterly Experience Report
DATE: June 26, 2006

Enclosed are the First Quarter Empire Plan Experience Report for 2006 and the cover letter to the Chief Executive Officers. This report presents the actual 2005 Empire Plan experience, the projected 2006 Empire Plan experience and the projected 2007 premium rates.

---

June 26, 2006

Dear Chief Executive Officer:

Attached is the Empire Plan First Quarter Experience Report for 2006. This report presents the actual 2005 Empire Plan experience, the projected 2006 Empire Plan experience, based on claims paid through March 31, 2006, and the projected 2007 premium rates.

The projected 2007 premium rates are presented in Exhibit II and reflect a “best estimated” net rate increase of 11.1%, in aggregate. The report also presents a range of the potential 2007 rate increase for your budget development considerations.

The projected 2007 premium rates are presented in Exhibit III and reflect a “best estimated” net premium increase of 10.9%. A range of the potential 2007 premium rate increase is included for your budget development considerations.

I hope this report is informative. If you have any questions, comments or suggestions, please don’t hesitate to contact me.

Sincerely,

Robert W. DuBois, CEBS
Director
Employee Benefits Division

---

EMPIRE PLAN EXPERIENCE REPORT

JANUARY – MARCH 2006
Produced for
PARTICIPATING AGENCIES IN THE
NEW YORK STATE
HEALTH INSURANCE PROGRAM
by
the Employee Benefits Division
New York State Department of Civil Service
Daniel E. Wall
President, New York State Civil Service Commission

• 2005 Empire Plan Experience
• Projected 2006 Empire Plan Experience
• Projected 2007 Premium Rates

Exhibits

1. 2005 Empire Plan Experience
2. Projected 2006 Empire Plan Experience
3. Projected 2007 PA Premium Rates
4. Empire Plan PA 5-Tier Group Rates 1996-2007
5. Empire Plan PA 2-Tier Group Rates 1996-2007

• NYSHIP News

---

NEW YORK STATE HEALTH INSURANCE PROGRAM
PARTICIPATING AGENCY GROUP
EMPIRE PLAN EXPERIENCE REPORT
1ST QUARTER REPORT

ACTUAL 2005 EMPIRE PLAN EXPERIENCE

The Empire Plan carriers declared a composite dividend of $299.0 million (6.9% of premium), or $195.6 million more than the margin loaded in the 2005 rates. The 2005 annual experience is reported in Exhibit I.

The settlement is based on thirteen months of 2005 paid claim data. The following chart presents the percentage of the incurred claims actually paid as well as the observed 2005 trend as compared to the trend assumed during the 2005 rate development:

	% of Actual Paid Claims to Projected Incurred Claims		Projected 2005 Trend
	2004	2005	@ Renewal	@ Settlement
Blue Cross	99.0%	91.7%	13.6%	7.4%
UnitedHealthcare	99.9%	95.8%	10.7%	11.1%
GHI	99.8%	91.1%	4.5%	1.6%
Cigna	100.0%	99.0%	17.6%	5.5%

The 2005 projected dividend for each carrier as compared to the margin level used in the 2005 premium development is as follows:

	Margin	2005 Projected Dividend/(Loss)	Increase/(Decrease)
Blue Cross	$23,043,000	$83,312,000	$65,269,000
UnitedHealthcare	$40,834,000	$34,796,000	($6,038,000)
GHI	$2,423,000	$4,429,000	$2,006,000
Cigna	$37,107,000	$171,431,000	$34,324,000
Total	$103,407,000	$298,968,000	$195,561,000

The increase in the dividend over the margin is primarily attributable to the reduction in claims experience of both the prescription drug program and the hospital program. For the prescription drug program, this reduction was caused by the reduction of trend in the market as well as the additional impact caused by the plan changes implemented effective January 1, 2005. Specifically, the number of scripts per contract increased by .7%, the cost per script decreased by 2.5% and the amount of claims dispensed at the mail service pharmacy increased from 3% to 13% of all scripts filled. For the hospital program, the increase in dividend over the margin was primarily attributable to a reduction in the number of anticipated inpatient cases per contract (.0801 to .0754) coupled with a 3.5% reduction in the anticipated cost per case. The experience for both UHC and GHI approximates the experience projected during the development of the 2005 rates.

PROJECTED 2006 EMPIRE PLAN EXPERIENCE

The Empire Plan carriers project a composite dividend of $160.0 million (3.3% of premium), or $63.1 million more than the margin loaded in the 2006 rates. The 2006 annual experience projected by the insurance carriers is reported in Exhibit II.

This projection is based on only three months of 2006 paid claim data. The following chart presents the percentage of the projected incurred claims actually paid as well as the current 2006 trend as compared to the trend assumed during the 2006 rate development:

	% of Paid Claims to Projected Incurred Claims		Projected 2006 Trend
	2005	2006	@ Renewal	@ 1st Quarter
Blue Cross	95.2%	13.4%	13.8%	13.4%
UnitedHealthcare	98.2%	16.6%	10.3%	12.0%
GHI	96.1%	12.6%	4.5%	5.5%
Cigna	99.5%	20.7%	16.2%	14.5%

The 2006 projected dividend for each carrier as compared to the margin level used in the 2006 premium development is as follows:

	Margin	2006 Projected Dividend/(Loss)	Increase/(Decrease)
Blue Cross	$26,222,000	$83,905,000	$57,683,000
UnitedHealthcare	$47,285,000	$413,000	$(46,872,000)
GHI	$2,628,000	$4,110,000	$1,482,000
Cigna	$20,771,000	$71,531,000	$50,760,000
Total	$96,906,000	$159,959,000	$63,053,000

The increase in the dividend projection is primarily attributable to the decrease in the 2005 claims base projected during the development of the 2006 rates for the prescription drug and hospital programs coupled with an increase in the projected pharma revenue for the prescription drug program. UHC projects a moderate increase in the 2006 claims based on an increase in recent medical utilization which UHC projects to continue throughout 2006. For GHI, the decrease in their projected 2005 claims base is partially offset by an increase in their projected 2006 trend.

2007 PROJECTED PREMIUM RATES

Exhibit III presents the projected 2007 Empire Plan gross and net premium rates assuming the application of $220.8 million in dividend to all payors. In aggregate, the Empire Plan gross premium is projected to increase approximately 11.6% while the net premium is projected to increase approximately 10.9%.

A range of projected gross and net premium rate increase is also included (7.6% - 14.2%). Carrier rate projections made at this time of the year have been historically conservative with the rates ultimately approved and implemented being significantly less than the projections contained in 1st Quarter Reports. In developing the projected 2007 rates, the Department of Civil Service reduced the carrier projections by approximately 0.7% to remove a level of excess conservatism specifically observed in the carrier rate estimates. Each agency should assess its budgetary environment in using the enclosed projections.

Exhibit IV presents the individual and family rate history for the Core plus Medical and Psychiatric Enhancement option based on the 5-tier Empire Plan billing rate history in effect since January 1, 1996. Exhibit V presents, for illustrative purposes only, the 2-tier rate history from 1996 to 2007.

---

Exhibit I

2005 EMPIRE PLAN EXPERIENCE
In (000's)

	EMPIRE BLUE CROSS	UnitedHealthcare MEDICAL Core	UnitedHealthcare MEDICAL NY Enhancement	UnitedHealthcare MEDICAL PA Enhancement	UnitedHealthcare MEDICAL Combined	GHI MHSA Core	GHI MHSA NY Enhancement	GHI MHSA PA Enhancement	GHI MHSA Combined	CIGNA	TOTAL
(A) Premium (1)	1,333,287	1,365,201	129,013	111,878	1,606,092	72,304	10,692	7,307	90,303	1,275,659	4,305,341
(B) Incurred Claims (2)	1,144,791	1,140,379	151,023	136,375	1,427,777	56,334	8,144	6,157	70,635	1,062,892	3,706,095
(C) Administrative Expense (3)	100,184	120,838	11,964	10,717	143,519	12,196	1,799	1,244	15,239	41,336	300,278
(D) Gain/(Loss) (A-B-C)	88,312	103,984	(33,974)	(35,214)	34,796	3,774	749	(94)	4,429	171,431	298,968

(1) Earned Premium - Premium which pays for coverage for the period reported (accrual basis).
(2) Incurred Claims - Represents the cost of covered services provided during the period reported by the insurance company (accrual basis).
(3) Administrative Expenses - All charges by the insurance carrier other than for the payment of claims. Includes carrier's cost to administer the program, interest charges, and other retention.

Source: Carriers 2005 Annual Statement

---

Exhibit II

2006 PROJECTED EMPIRE PLAN EXPERIENCE
In (000's)

	EMPIRE BLUE CROSS	UnitedHealthcare MEDICAL Core	UnitedHealthcare MEDICAL NY Enhancement	UnitedHealthcare MEDICAL PA Enhancement	UnitedHealthcare MEDICAL Combined	GHI MHSA Core	GHI MHSA NY Enhancement	GHI MHSA PA Enhancement	GHI MHSA Combined	CIGNA	TOTAL
(A) Premium (1)	1,501,706	1,414,027	187,714	174,558	1,776,299	76,893	10,510	7,644	95,047	1,406,522	4,779,574
(B) Incurred Claims (2)	1,314,040	1,328,702	159,995	136,186	1,624,883	60,666	8,330	6,393	75,389	1,259,978	4,274,290
(C) Administrative Expense (3)	103,761	128,105	12,216	10,682	151,003	12,571	1,719	1,258	15,548	75,013	345,325
(D) Gain/(Loss) (A-B-C)	83,905	(42,780)	15,503	27,690	413	3,656	461	(7)	4,110	71,531	159,959

(1) Earned Premium - Premium which pays for coverage for the period reported (accrual basis).
(2) Incurred Claims - Represents the cost of covered services provided during the period reported by the insurance company (accrual basis).
(3) Administrative Expenses - All charges by the insurance carrier other than for the payment of claims. Includes carrier's cost to administer the program, interest charges, and other retention.

Source: Carriers 2006 1st Quarter Reports

---

Exhibit III

Empire Plan
Participating Agency Premium Rates
Comparison of 2006 and Projected 2007 Rates

CORE ONLY

Plan Prime

	Gross Rates(1) 2006	Gross Rates(1) 2007(3)	Gross Rates(1) % Change	Net Rates(2) 2006	Net Rates(2) 2007(3)	Net Rates(2) % Change
Individual Optimistic	490.93	533.36	8.6%	472.92	508.88	7.6%
Individual Best Estimate	490.93	548.56	11.7%	472.92	524.08	10.8%
Individual Pessimistic	490.93	563.81	14.8%	472.92	539.33	14.0%
Family Optimistic	1,039.70	1,129.09	8.6%	1,001.94	1,077.40	7.5%
Family Best Estimate	1,039.70	1,161.13	11.7%	1,001.94	1,109.44	10.7%
Family Pessimistic	1,039.70	1,193.29	14.8%	1,001.94	1,141.60	13.9%

Mediprime

	Gross Rates(1) 2006	Gross Rates(1) 2007(3)	Gross Rates(1) % Change	Net Rates(2) 2006	Net Rates(2) 2007(3)	Net Rates(2) % Change
Individual Optimistic	344.41	380.64	10.5%	323.97	358.31	10.6%
Individual Best Estimate	344.41	389.37	13.1%	323.97	367.04	13.3%
Individual Pessimistic	344.41	397.86	15.5%	323.97	375.53	15.9%
Family-1 Optimistic	893.19	976.38	9.3%	852.99	926.82	8.7%
Family-1 Best Estimate	893.19	1,001.92	12.2%	852.99	952.36	11.6%
Family-1 Pessimistic	893.19	1,027.35	15.0%	852.99	977.79	14.6%
Family-2 Optimistic	746.68	823.65	10.3%	704.04	776.25	10.3%
Family-2 Best Estimate	746.68	842.72	12.9%	704.04	795.32	13.0%
Family-2 Pessimistic	746.68	861.41	15.4%	704.04	814.01	15.6%

(1) Represents premiums charged by the carriers.
(2) Represents cost to a participating agency.
(3) Projected Rates.

CORE PLUS MEDICAL & PSYCHIATRIC ENHANCEMENTS

Plan Prime

	Gross Rates(1) 2006	Gross Rates(1) 2007(3)	Gross Rates(1) % Change	Net Rates(2) 2006	Net Rates(2) 2007(3)	Net Rates(2) % Change
Individual Optimistic	547.86	590.52	7.8%	529.76	565.96	6.8%
Individual Best Estimate	547.86	608.61	11.1%	529.76	584.05	10.2%
Individual Pessimistic	547.86	626.77	14.4%	529.76	602.21	13.7%
Family Optimistic	1,164.16	1,254.05	7.7%	1,126.19	1,202.18	6.7%
Family Best Estimate	1,164.16	1,292.42	11.0%	1,126.19	1,240.55	10.2%
Family Pessimistic	1,164.16	1,330.92	14.3%	1,126.19	1,279.05	13.6%

Mediprime

	Gross Rates(1) 2006	Gross Rates(1) 2007(3)	Gross Rates(1) % Change	Net Rates(2) 2006	Net Rates(2) 2007(3)	Net Rates(2) % Change
Individual Optimistic	359.35	395.64	10.1%	338.88	373.28	10.2%
Individual Best Estimate	359.35	405.13	12.7%	338.88	382.77	13.0%
Individual Pessimistic	359.35	414.37	15.3%	338.88	392.01	15.7%
Family-1 Optimistic	975.66	1,059.18	8.6%	935.32	1,009.50	7.9%
Family-1 Best Estimate	975.66	1,088.91	11.6%	935.32	1,039.23	11.1%
Family-1 Pessimistic	975.66	1,118.53	14.6%	935.32	1,068.85	14.3%
Family-2 Optimistic	787.16	864.29	9.8%	744.45	816.82	9.7%
Family-2 Best Estimate	787.16	885.42	12.5%	744.45	837.95	12.6%
Family-2 Pessimistic	787.16	906.16	15.1%	744.45	858.69	15.3%

(1) Represents premiums charged by the carriers.
(2) Represents cost to a participating agency.
(3) Projected Rates.

 

---

Exhibit IV

EMPIRE PLAN
PA 5 TIER GROUP RATES
1996-2007 Monthly Rates

Core Plus Medical & Psychiatric Enhancements

Individual Planprime

Year	Gross Rate (1)	% Change	Net Rate (2)	% Change
1996 (3)	234.59	9.3%	207.66	7.3%
1997	261.80	11.6%	240.22	15.7%
1998	267.89	2.3%	246.07	2.4%
1999	279.56	4.4%	261.18	6.1%
2000	294.94	5.5%	286.53	9.7%
2001	325.23	10.3%	314.26	9.7%
2002	353.81	8.8%	344.66	9.7%
2003	400.00	13.1%	384.89	11.7%
2004	448.00	12.0%	438.15	13.8%
2005	490.41	9.5%	478.49	9.2%
2006	547.86	11.7%	529.76	10.7%
2007 Projected	608.61	11.1%	584.05	10.2%

Average Percent Increase

	Gross Rate % Change	Net Rate % Change
From Inception of 5 Tier Structure (1996)	9.1%	9.7%
Most Recent 5 Years	11.5%	11.2%

Family Planprime

Year	Gross Rate (1)	% Change	Net Rate (2)	% Change
1996 (3)	521.96	7.2%	459.16	4.3%
1997	537.96	3.1%	489.22	6.5%
1998	552.00	2.6%	503.78	3.0%
1999	573.33	3.9%	531.89	5.6%
2000	607.33	5.9%	590.16	11.0%
2001	673.67	10.9%	651.09	10.3%
2002	742.98	10.3%	723.97	11.2%
2003	842.38	13.4%	811.41	12.1%
2004	945.29	12.2%	924.74	14.0%
2005	1,038.64	9.9%	1,013.68	9.6%
2006	1,164.16	12.1%	1,126.19	11.1%
2007 Projected	1,292.42	11.0%	1,240.55	10.2%

Average Percent Increase

	Gross Rate % Change	Net Rate % Change
From Inception of 5 Tier Structure (1996)	8.5%	9.1%
Most Recent 5 Years	11.7%	11.4%

Individual Medprime

Year	Gross Rate (1)	% Change	Net Rate (2)	% Change
1996 (3)	158.65	-26.1%	131.72	-31.9%
1997	150.53	-5.1%	129.28	-1.9%
1998	167.91	11.5%	151.34	17.1%
1999	186.46	11.0%	175.61	16.0%
2000	217.94	16.9%	214.25	22.0%
2001	245.64	12.7%	239.94	12.0%
2002	259.96	5.8%	253.82	5.8%
2003	307.02	18.1%	297.50	17.2%
2004	341.87	11.4%	334.22	12.3%
2005	340.50	-0.4%	331.93	-0.7%
2006	359.35	5.5%	338.88	2.1%
2007 Projected	405.13	12.7%	382.77	13.0%

Average Percent Increase

	Gross Rate % Change	Net Rate % Change
From Inception of 5 Tier Structure (1996)	6.2%	6.9%
Most Recent 5 Years	9.5%	8.8%

Family - 1 Medprime

Year	Gross Rate (1)	% Change	Net Rate (2)	% Change
1996 (3)	446.03	-8.4%	383.23	-13.0%
1997	427.23	-4.2%	378.82	-1.2%
1998	452.73	6.0%	409.76	8.2%
1999	480.95	6.2%	447.05	9.1%
2000	530.97	10.4%	518.52	16.0%
2001	595.25	12.1%	577.95	11.5%
2002	649.14	9.1%	633.13	9.5%
2003	749.40	15.4%	724.05	14.4%
2004	839.18	12.0%	820.82	13.4%
2005	888.71	5.9%	867.09	5.6%
2006	975.66	9.8%	935.32	7.9%
2007 Projected	1,088.91	11.6%	1,039.23	11.1%

Average Percent Increase

	Gross Rate % Change	Net Rate % Change
From Inception of 5 Tier Structure (1996)	7.2%	7.7%
Most Recent 5 Years	10.9%	10.5%

Family - 2 or More Medprime

Year	Gross Rate (1)	% Change	Net Rate (2)	% Change
1996 (3)	369.87	-24.0%	307.07	-30.3%
1997	315.24	-14.8%	267.15	-13.0%
1998	351.98	11.7%	314.25	17.6%
1999	387.05	10.0%	360.66	14.8%
2000	453.22	17.1%	445.51	23.5%
2001	514.40	13.5%	502.37	12.8%
2002	555.29	7.9%	542.29	7.9%
2003	656.42	18.2%	636.67	17.4%
2004	733.05	11.7%	716.88	12.6%
2005	738.79	0.8%	720.53	0.5%
2006	787.16	6.5%	744.45	3.3%
2007 Projected	885.42	12.5%	837.95	12.6%

Average Percent Increase

	Gross Rate % Change	Net Rate % Change
From Inception of 5 Tier Structure (1996)	5.9%	6.6%
Most Recent 5 Years	9.9%	9.3%

(1) Represents premiums paid to the carriers.
(2) Represents cost to a participating agency.
(3) Inception of Medprime Rate Structure.

---

Exhibit V

EMPIRE PLAN
PA 2 TIER GROUP RATES
1996-2007 Monthly Rates
(For Illustrative Purposes Only)

Core Plus Medical & Psychiatric Enhancement

Individual

Year	Gross Rate	% Change	Net Rate	% Change
1996 (1)	219.20	2.1%	192.27	-0.7%
1997	219.87	0.3%	198.37	3.2%
1998	227.35	3.4%	204.38	3.0%
1999	239.24	5.2%	222.00	8.6%
2000	260.67	9.0%	253.98	14.4%
2001	289.41	11.0%	280.25	10.3%
2002	313.58	8.4%	305.67	9.1%
2003	357.44	14.0%	345.36	13.0%
2004	402.70	12.7%	394.31	14.2%
2005	433.70	7.7%	423.31	7.4%
2006	477.33	10.1%	459.25	8.5%
2007 Projected	533.27	11.7%	510.09	11.1%

Average Percent Increase

	Gross Rate % Change	Net Rate % Change
From Inception (1986)	8.4%	8.4%
Most Recent 10 Years	9.3%	10.0%
Most Recent 5 Years	11.2%	10.8%

Family

Year	Gross Rate	% Change	Net Rate	% Change
1996 (1)	491.07	0.8%	428.27	-2.7%
1997	495.81	1.0%	447.22	4.4%
1998	514.28	3.7%	463.62	3.7%
1999	539.14	4.8%	499.75	7.8%
2000	578.26	7.3%	563.03	12.7%
2001	640.64	10.8%	619.28	10.0%
2002	703.61	9.8%	685.83	10.7%
2003	805.64	14.5%	778.82	13.6%
2004	899.98	11.7%	881.48	13.2%
2005	968.40	7.6%	945.11	7.2%
2006	1,073.28	10.8%	1,034.40	9.4%
2007 Projected	1,197.32	11.6%	1,146.77	10.9%

Average Percent Increase

	Gross Rate % Change	Net Rate % Change
From Inception (1986)	8.8%	8.8%
Most Recent 10 Years	9.3%	9.9%
Most Recent 5 Years	11.2%	10.9%

(1) Represents 2 tier Empire Plan Rates; See 5 tier rate schedule effective 1/1/96.

---

First Quarter – 2006

Announcing the Public Employer Liaison Unit

Recently, a unit was created within the Employee Benefits Division to enhance our service to Participating Agencies and Participating Employers. The Public Employer Liaison Unit is responsible for assisting PA’s and PE’s with NYSHIP administrative questions, resolving complex benefits issues, and handling inquires regarding the NYSHIP plan design. In addition, the Unit is responsible for NYSHIP outreach and marketing efforts. Also, it coordinates deferred compensation submissions between local public employers and the NYS Deferred Compensation Board. Questions or correspondence from HBA’s or local government officials should be directed to this office. Processing and enrollment information will continue to be handled by the PA/PE Unit via the dedicated HBA line. (Please see below-our HBA line has a new number as the result of our relocation.)

The Public Employee Liaison unit is staffed by Marlene Mauriello, Dave Ellers, Theresa Bartlett and Mindy Beyer. They can be reached at (518) 485-1771.

Employee Benefit Division Relocation to Downtown Albany

The Employee Benefits Division is moving to the Alfred E. Smith State Office Building in downtown Albany along with the rest of the Department of Civil Service. The Division’s move is scheduled for June 26, 2006. At that time, most telephone and fax numbers will change. Please note the HBA line will change to: (518) 474 - 2780. The Director’s office will retain its published phone number, (518) 485-1771. You will be notified of changes in other key phone and fax numbers. Our new address should read: New York State Department of Civil Service, Employee Benefits Division, Alfred E. Smith State Office Building, 80 South Swan Street, Albany, NY 12239. Please note that we have retained our ZIP code, but please eliminate “State Office Campus-Agency Building 1” from any correspondence.

Medicare Part D Employer Subsidy Update

As indicated in the previous quarterly report, CMS is substantially behind schedule in their implementation of the retiree drug subsidy (RDS) for employers. However, NYSHIP applied for and received an estimated one time Employer Subsidy for the first quarter of 2006. Consistent with our commitment to distribute the subsidy to each Participating Agency as soon as possible after receiving it, we have begun to credit the monthly bills for those PAs that have executed the Medicare Part D Retiree Drug Subsidy Agreements. These agreements were mailed to all PAs in March. Please note that your agency must execute and return this agreement to EBD to begin receiving the subsidy credit.

At this time, CMS has not announced any additional special payments or confirmed when the subsidy distribution will begin on a monthly basis; however, we will distribute any subsidy payments as soon as possible following receipt from CMS.

GASB 45 Update

Your agency recently received a mailing from EBD regarding GASB 45 which establishes uniform financial reporting standards for Other Post Employment Benefits (OPEB). As indicated in this correspondence, each PA must value its own OPEB obligation. Please refer to PA Memo 06-11 for details.

PA Regional Meetings-Save the Date

We hope to see you at our upcoming regional meetings! The official announcement will be sent out later this summer. Following is the schedule:

• October 3rd – Holiday Inn, Saratoga Springs, NY
• October 4th – Comfort Inn, Nanuet, NY (Rockland County)
• October 5th – Huntington Hilton, Huntington, NY (Long Island)

Transmission of Reports Electronically

Many agencies receive the Empire Plan Experience Report via E-mail. If you would like to be added to our distribution list, you may contact us at the address or E-mail below.

CEO and HBA Name and Address Changes

Please be sure to notify EBD of any changes in the names and/or addresses (including E-mail address) of your agency’s CEO or HBA, so that we may keep our mailing lists up-to-date. This updated information should be sent to:

Debbie D’Orazio
Employee Benefits Division
NYS Department of Civil Service
Alfred E. Smith State Office Building
Albany, NY 12239
or E-mail: Deborah.Dorazio@cs.state.ny.us

---

Report – PDF Version

Exhibits I – PDF Version

Exhibits II – PDF Version

Exhibits III – PDF Version

Exhibits IV – PDF Version

Exhibits V – PDF Version

NYSHIP News – PDF Version