Just a wild guess, but is it possible that a prior owner lost the locking nut from the pushrod and just screwed it into the plunger until it stopped?
I have a 317 and a 312, both have adjustment at the lever end of the pump, the pushrod screws into the plunger and is locked by a nut.
At the seal end the pushrod just screws directly into a blind hole.
The pump seal pressing on the valve face is what keeps the lever up, with or without pressure.
Is your pump assembly not screwed together?