by John Darer® CLU ChFC CSSC RSP
New York CPLR Article 50B has a statutory 4% escalator built into it that has troubled defendants who might have argued that it was an unfair representation of the current state of affairs. After all, the New York statute that mandates structured judgments, under Article 50B, was created in 1986 when interest rates were much higher and 4% then seemed like a bargain. It is now worthy to note that with the September 2011 CPI-U being 3.87% (Source: Inflationdata.com) the strength of the argument appears to have gone the way of "the bath water".
New York's Periodic Payment of Judgment statutes
Article 50A of the Civil Practice Law Rules (CPLR) deals with periodic payment of damages on medical, dental and podiatry malpractice cases.
Article 50B of the New York CPLR deals with payment of damages on personal injury, injury to property and wrongful death actions.