Maximum Pension. The maximum pension will be increased to the maximum permitted by the Income Tax Act and Regulations at the time and increased in accordance with the applicable indexing provisions of the Income Tax Act and Regulations or any other changes to the maximum benefits permitted by the Income Tax Act and Regulations as amended from time to time.
Maximum Pension. Notwithstanding anything contained in the Plan to the contrary, the annual retirement benefit payable to a Participant in the Plan shall be subject to the limitations, adjustments and requirements set forth in Code Section 415 and the final regulations promulgated thereunder, which are incorporated herein by reference. In no event shall any annual retirement benefit exceeding the Code Section 415 limits be accrued, distributed or otherwise payable to any Participant in any form of benefit at any time. Effective January 1, 2004, the following provision is added to comply with the Pension Funding Equity Act of 2006:
Maximum Pension. The total basic monthly pension calculated in accordance with the provision of the Pension shall not exceed 111 2th of the lesser of a) and
Maximum Pension. The percent applicable to final average salary shall be seventy-five (75) percent with no Social Security offset.
Maximum Pension. (1) Subject to Section 8.3, the sum of a Member’s annual lifetime pension calculated pursuant to Section 8.1 and the Member’s annual bridge benefit calculated pursuant to Section 8.2 must not exceed 70% of A, excepting where additional pension is purchased in accordance with Section 17.3, where A = [(Pre-2016 Average Pensionable Earnings x Pensionable Service prior to 2016) + (Post-2015 Average Pensionable Earnings x Pensionable Service after 2015)] divided by total Pensionable Service.
Maximum Pension. Notwithstanding any provision of this Plan to the contrary, the Annual Pension that is accrued by or paid to a participant shall not exceed the Dollar Limitation set forth below. If the benefit the participant would otherwise accrue in a Limitation Year would produce an Annual Pension in excess of the Dollar Limitation, the benefit shall be limited to a benefit that does not exceed the Dollar Limitation.
