415 Limit definition

415 Limit means the limitations imposed by Code Section 415 on benefits and/or contributions for qualified retirement plans.
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415 Limit means Pension Plan and Savings Plan provisions adopted pursuant to Section 415 of the Code to limit (i) annual Pension Plan benefits pursuant to Section 415(b) thereof, and (ii) annual additions to the Savings Plan pursuant to Section 415(c) thereof.
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415 Limit means the limit set forth in section 415(b) or (c) of the internal revenue code
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Examples of 415 Limit in a sentence

  • In no event will the Maximum Annual Addition for any Participant exceed the Code Section 415 Limit described in this Section.

  • The terms and conditions of the FedEx Corporation Employees' Pension Plan ("Pension Plan") affecting pilots, the Federal Express Corporation Non-Qualified Pension Plan for Pilots ("Compensation Limit Plan"), and the Federal Express Corporation Non-Qualified Section 415 Excess Pension Plan for Pilots ("415 Limit Plan") shall be as provided in the Pension Plan, the Compensation Limit Plan, and the 415 Limit Plan except as provided in this Agreement.

  • Thereafter, the Adjusted 415 Limit, as further reduced to reflect the value of the Participant’s benefits under the Prudential Traditional Retirement Plan, shall be applied to calculate the Benefits payable to the Participant hereunder that are determined by reference to the Prudential Cash Balance Plan.

  • If a Pilot’s retirement benefit in the MBCBP exceeds the limitation for defined benefit plans under Code §415(b), the excess benefit will be paid from the 415 Limit Plan.

  • In no event shall total final average earnings taken into account under the Pension Plan, the Compensation Limit Plan and the 415 Limit Plan exceed $260,000: a.

  • The terms and conditions of the Federal Express Corporation Non-Qualified Section 415 Excess Pension Plan for Pilots (“415 Limit Plan”) and the Federal Express Corporation Non-Qualified Pension Plan for Pilots (“Compensation Limit Plan”) shall be as provided in the 415 Limit Plan and the Compensation Limit Plan.

  • In no event shall final average earnings taken into account under the Pension Plan, the 415 Limit Plan, and the Compensation Limit Plan exceed $260,000the amounts as provided in Section 28.B.3. (i.e., $325,000 on May 30, 2023, $330,000 on January 1, 2025, and $338,000 on January 1, 2027).