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1 <br /> will apply to limitation years ending with or within the calendar <br /> year of the date of the adjustment. <br /> 7. Maximum Permissible Amount: The term maximum permissible <br /> amount means the lesser of the defined benefit dollar limitation or <br /> the defined benefit compensation limitation (both adjusted where <br /> required, as provided in (1) and, if applicable, in (2) or(3) below). <br /> (a) Service Adjustment: If the member has fewer than 10 years <br /> of participation in the plan, the defined benefit dollar <br /> limitation shall be multiplied by a fraction, (i) the <br /> numerator of which is the number of years (or part thereof) <br /> of participation in the plan and (ii) the denominator of <br /> which is 10. In the case of a member in a non-multi- <br /> employer plan who has fewer than 10 years of service with <br /> the employer, the defined benefit compensation limitation <br /> shall be multiplied by a fraction, (i) the numerator of which I <br /> is the number of years (or part thereof) of service with the <br /> employer and (ii) the denominator of which is 10. <br /> (b) Adjustment For Benefits Commencing After Age 62: If the <br /> benefit of a member begins prior to age 62, the defined <br /> benefit dollar limitation applicable to the member at such <br /> earlier age is an annual benefit payable in the form of a <br /> straight life annuity beginning at the earlier age that is the <br /> actuarial equivalent of the defined benefit dollar limitation <br /> applicable to the member at age 62 (adjusted under (a) <br /> above, if required). The defined benefit dollar limitation a' <br /> applicable at an age prior to age 62 is determined as the <br /> lesser of (i) the actuarial equivalent (at such age) of the <br /> defined benefit dollar limitation computed using the <br /> interest rate and mortality table (or other tabular factor) <br /> specified in the plan and (ii) the actuarial equivalent (at <br /> such age) of the defined benefit dollar limitation computed <br /> using a 5 percent interest rate and the applicable mortality <br /> table as defined for purposes of benefits payable in a form <br /> subject to Code §417(e). Any decrease in the defined <br /> benefit dollar limitation determined in accordance with this <br /> paragraph (b) shall not reflect a mortality decrement if <br /> benefits are not forfeited upon the death of the member. <br /> (c) Adjustment For Benefits Commencing After Age 65: If the 3 <br /> benefit of a member begins after the member attains age <br /> 65, the defined benefit dollar limitation applicable to the <br /> member at the later age is the annual benefit payable in the <br /> form of a straight life annuity beginning at the later age that <br /> is actuarially equivalent to the defined benefit dollar r <br />