1!) 

 (a) All claims upon the Bald Pension Fund which Liquidation 



shall have matured at the time shall be paid. 



i 6 i All outstanding pensions shall be commuted into 



one sum, which shall he paid lo (he person (hen entitled 



to receive Buch pension. Such a commutation in the case 



<>t* a person entitled to a pension for life shall be on the 



basis of the American Experience Tabic of Mortality with 



interest at four per centnin per annnni. and in the case of 

 pensions payable for a period other than for life, the 

 future payments shall be commuted by the payment to 



the person entitled thereto, of one sum equal to the present 



value <>f the remaining unpaid instalments for the periods 

 payable according to the same table of mortality and the 

 same rate of interest 



i ' i All contributions theretofore made to the Pension 

 Fund by the contributing members then in good standing 

 shall be returned to them with simple interest at three 

 per edit, per annum. 



i '/ 1 There shall be repaid to the Corporation, without 

 interest, such funds as shall have been contributed by the 

 ( '••rporation. ,,r by any other person or persons other than 

 the subscribing employees. 



(e) An\ excess remaining shall be divided anion- the 

 subscribing employees in good standing, each such sub- 



BCribing employee's share to be in the proportion that the 

 payment made to hint or her under the above subsection 

 bean tO all of the payments made under said snh- 

 seetioil. 



The distribution shall be made in the order above 



ted. After the payments above provided tor, or such 

 of them as the proceeds of the Pension Fund will suffice 



pay, Shall have been made, the pension system hereby 



