Offset Rules Sample Clauses

Offset Rules. Any payments erroneously made during a period of suspension as provided in Section 6.01 shall be recovered through deductions from future Pension payments to be made to or on behalf of the Participant or by direct reimbursement from the Participant. The Trustees may assess compound interest at the ‘applicable interest rate’ based on the 30-Year Treasury Rate as set by the United States Department of Treasury on the first business day of each Plan Year per annum on such erroneous payments that are made by the Trustees due to a Participant's fraudulent misrepresentation(s). Deductions from future Pension payments shall equal 100% of the monthly Pension payments made prior to Normal Retirement Age. After attainment of Normal Retirement Age, such deductions shall not exceed 25% of the Pension payment. However, for Participants whose benefits resume after Normal Retirement Age, (1) Pension payments shall resume no later than the third month after the last calendar month in which the Participant’s Pension benefits were suspended and (2) the initial Pension payment will be subject to 100% offset.
Sample 1
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Related to Offset Rules

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  • School Rules The School rules which apply are set out on the School website and other documents published from time to time. The Parents are requested to read these documents carefully with the Pupil before they accept the offer of a place.

  • General Rules 1.1 Unless the context clearly indicates otherwise, the definitions set forth in this Article of this Agreement shall apply to the entire Agreement and all attachments incorporated by reference herein into this Agreement. A defined term intended to convey the meaning stated in this Agreement is capitalized when used. 1.2 Additional definitions that are specific to the matters covered in a particular Article, attachment or provision may appear in that Article, attachment or provision. To the extent that there is any difference of interpretation between a definition set forth in this Agreement and any definition in a specific Article, attachment or provision, the definition set forth in the specific Article, attachment or provision shall control with respect to that Article, attachment or provision. 1.3 Capitalized terms that are not otherwise defined in this Article or elsewhere within the Agreement but are defined in the Telecommunications Act of 1996 (Act) and/or the orders and rules implementing the Act shall have the meaning set forth in the Act or in such orders and rules. 1.4 Terms used in a Tariff shall have the meanings stated in the Tariff. 1.5 Unless the context clearly indicates otherwise, any term defined in this Agreement which is defined or used in the singular shall include the plural, and any term defined in this Agreement which is defined or used in the plural shall include the singular. 1.6 The words “shall” and “will” are used interchangeably throughout the Agreement and the use of either indicates a mandatory requirement. The use of one or the other shall not confer a different degree of right or obligation for either Party.

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