(2) An individual is deemed "unemployed" in any week during which no governmental or other pension, retirement or retired pay, annuity, or other similar periodic payment which is attributable to his employment is payable to him or, if such payment is payable to him with respect to such weeks, the amount thereof is less than his weekly benefit amount. Each eligible individual who is unemployed in any week and who is receiving a governmental or other pension, retirement or retired pay, annuity, or other similar periodic payment which is attributable to his employment must be paid with respect to such week a benefit in an amount equal to his weekly benefit amount less the pension, retirement or retired pay, annuity, or other similar periodic payment payable to him with respect to such week. Such benefit if not a multiple of one dollar must be computed to the next lower multiple of one dollar. The amount of benefits payable to an individual for any week which begins after the effective date of the applicable provision in the Federal Unemployment Tax Act and which begins in a period with respect to which such individual is receiving a governmental or other pension, retirement or retired pay, annuity, or other similar periodic payment which is based on the previous work of such individual must be reduced (but not below zero) by an amount equal to the amount of such pension, retirement or retired pay, annuity, or other payment which is reasonably attributable to such week. However, if the provisions of the Federal Unemployment Tax Act permit, the requirements of this subsection shall only apply in the case of a pension, retirement or retired pay, annuity, or other similar periodic payment under a plan maintained (or contributed to) by a base period employer or chargeable employer.

1. (a) by the pro-rated weekly amount of the pension after deductions of that portion of the pension that is directly attributable to the percentage of the contributions made to the plan by such individual; or
2. (b) by no part of the pension if the entire contributions to the plan were provided by such individual, or by the individual and an employer (or any other person or organization) who is not a base period employer or chargeable employer; or

3. (c) by the entire pro-rated weekly amount of the pension if item (a) or item (b) does not apply.

   This provision is effective for all weeks commencing on or after August 29, 1982.

In the event the individual has participated in any pension, retirement or retired pay, annuity, or other similar plan of the base period employer or chargeable employer by having made contributions to such plan, the weekly benefit amount payable to such individual for such week shall be reduced (but not below zero):

(4) No individual may be considered as unemployed in any week (not to exceed two in any benefit year) in which the commission finds that his unemployment is due to a vacation week which is constituted a vacation period without pay by reason of a written contract between the employer and the employees or by reason of the employer's vacation policy and practice to his employees. This provision applies only if it is found by the commission that employment will be available for the claimant with the employer at the end of a vacation period as described in this section. This subsection is not applicable to any claimant whose employer fails to comply, in respect to such vacation period, with the requirements of all regulations or procedures of the commission regarding the filing of notices, reports, information, or claims in connection with individual, group, or mass separations arising from the vacation.

For purposes of this subsection, social security benefits are not considered a governmental or other pension, retirement or retired pay, annuity, or other similar periodic payment attributable to the beneficiary's employment. As a result, the offset of social security will be reduced from 50% to 0% based on the fact that individuals are required to contribute to social security.