An assembly (30) controls the amount of downward movement of a counterweight (24) within an elevator system (20). By limiting the downward movement of the counterweight (24), a desired overhead clearance above an elevator car (22) can be maintained. One example includes at least one safety device (80, 84, 86, 88) on top of the elevator car (22) to provide an indication for when a holding member (34) should allow a stop member of the assembly (30) to move into a position to limit the downward movement of the counterweight (24). In one example, the stop member (32) moves into an employed position by the force of gravity and is manually moveable back into a retracted position when it is not needed. One example includes a guide member (60) that facilitates controlling the position of the stop member (32) when it is in the employed position.