Common use of Affordability Test Clause in Contracts

Affordability Test. A Class Member who is a retiree or surviving spouse shall be deemed to meet the “Affordability Test” and be considered a Protected Retiree if, based on the calculations and qualifications set forth in Section F.(i) of Exhibit F to this Settlement Agreement, such person is (a) entitled to an annual pension benefit income under the Pension Plan of $8,000 or less, and (b) receives a pension under the Pension Plan calculated based on a monthly Basic Pension Rate (as established in Appendix B of the Pension Plan as applicable) of $33.33 or less per year of credited service, or, in the case of a surviving spouse, a Basic Pension Rate reduced as set forth in Section 9 of the Pension Plan.

Affordability Test. A Class Member who is a retiree or surviving spouse shall be deemed to meet the “"Affordability Test” " and be considered a Protected Retiree if, based on the calculations and qualifications set forth in Section F.(i) of Exhibit F to this Settlement Agreement, such person is (a) entitled to an annual pension benefit income under the Pension Plan of $8,000 or less, and (b) receives a pension under the Pension Plan calculated based on a monthly Basic Pension Rate (as established in Appendix B of the Pension Plan as applicable) of $33.33 or less per year of credited service, or, in the case of a surviving spouse, a Basic Pension Rate reduced as set forth in Section 9 of the Pension Plan.