Funding Based Limits on Benefits Sample Clauses

Funding Based Limits on Benefits. 8.1 Effective for Plan Years commencing on and after November 1, 2010, the provisions of this Article VIII shall apply notwithstanding any other provision of the Pension and Insurance Agreement. The following funding-based limitations shall apply to the Plan in accordance with section 436 of the Code (or any successor provision): (a) No amendment increasing the liabilities of the Plan by reason of increases in benefits, establishment of new benefits, changing the rate of benefit accrual, or changing the rate at which benefits become nonforfeitable shall take effect during any Plan Year in which such amendment may not take effect under the funding-based limitations of section 436(c) of the Code; (b) No “prohibited payment” (within the meaning of section 436 of the Code) or any portion thereof shall be made under the Plan in any Plan Year to the extent that such payment or portion of such payment may not be made by the Plan under the funding-based limitations of section 436(d) of the Code; (c) Benefit accruals under the Plan shall cease as of the valuation date for the Plan Year in which such accruals are prohibited by the funding-based limitations of section 436(e) of the Code, and no service of any Participant during the period of such cessation of benefit accruals shall be counted as Credited Service hereunder; and (d) No unpredictable contingent event benefit (within the meaning of section 436(b) of the Code) shall be payable under the Plan with respect to any event occurring during any Plan Year in which such benefit may not be provided pursuant to the funding-based limitations of section 436(b) of the Code. 8.2 No Employer shall be required (a) to make additional contributions to the Plan, (b) to provide additional security to the Plan, or (c) to alter the method or timing of any actuarial valuation, in order to avoid the application of the funding-based limitations set forth in this Article VIII and section 436 of the Code (or any successor provision). Except to the extent required by law, the Plan shall not (i) restore any benefits that did not accrue, or make any payment in lieu of any benefits that are not paid, by reason of this Article VIII or section 436 of the Code (or any successor provision), or (ii) provide any elections to Employees, former Employees. spouses or Beneficiaries that are not required by section 436 of the Code (or any successor provision). Further, no Employer shall be required to make any payments to Employees, former Employe...