1!) 



i a i All claims upon the said Pension Fund which 

 shall have matured at the time shall be paid. 



(6) All outstanding pensions shall be commuted into 

 one sum. which shall in- paid i<» the person then entitled 

 to receive such pension. Such a commutation in the case 

 of a person entitled to a pension for lite shall he on the 

 i>asU <>t the American Experience Table of Mortality with 

 Interest at i per centum per annum, and in the case of pen- 

 sions payable for a period other than tor life, the future 

 payments shall be commuted by the payment to the per- 

 son entitled thereto, of one sum equal to the present value 

 of the remaining unpaid instalments for the periods pay- 

 able according to the same table of mortality and the same 



late of interest. 



• All contributions theretofore made to the Pension 

 Fund by the contributing members then in good standing 



shall he returned to them with simple interest at three 

 per <-eiit. per annum. 



i <l » There shall be repaid i<> the Corporation, without 

 interest, such funds as shall have been contributed by tin* 

 Corporation, or by any other person or persons other than 

 the subscribing employ 



»< » An\ excess remaining shall be divided among the 

 subscribing employees in good standing, each such sub- 

 scribing employee's share to he in the proportion that the 

 payment made to him or her under the above sub-section 



bears t<> all of the payments made under said siil. 



section. 



The distribution shall be made in the order above 

 stated. After the payments above provided for. or such 

 of them as the proceeds of the Pension Fund will suffice 

 !«. pay, >hall have been made, the pension system hereby 





