Common use of Limitation on Prohibited Payments Clause in Contracts

Limitation on Prohibited Payments. (a) A Member or Beneficiary shall not be permitted to elect an optional form of pension that includes a Prohibited Payment, and the Plan shall not pay any Prohibited Payment, with an Annuity Starting Date on or after the applicable Section 436 Measurement Date if the Non-Contributory Pension Plan’s Adjusted Funding Target Attainment Percentage for a Plan Year is less than 60%.

Limitation on Prohibited Payments. (a) A Member An Employee or Beneficiary beneficiary shall not be permitted to elect an optional form of pension that includes a Prohibited Payment, and the Plan shall not pay any Prohibited Payment, with an Annuity Starting Date annuity starting date on or after the applicable Section 436 Measurement Date if the Non-Non- Contributory Pension Plan’s Adjusted Funding Target Attainment Percentage for a Plan Year is less than 60%.

Limitation on Prohibited Payments. (a) A Member An Employee or Beneficiary beneficiary shall not be permitted to elect an optional form of pension that includes a Prohibited Payment, and the Plan shall not pay any Prohibited Payment, with an Annuity Starting Date annuity starting date on or after the applicable Section 436 Measurement Date if the Non-Contributory Pension Plan’s Adjusted Funding Target Attainment Percentage for a Plan Year is less than 60%.