Examples of Section 415 Limitation in a sentence
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Benefits not payable under the Pension Plan because of the limitations imposed on the annual benefit of the Pension Participant by Section 415 of the Code ("Section 415 Limitation").
The Limited Benefit Assumptions are that Compensation (as defined in Article I of the Pension Plan) is subject to the Section 401(a)(17) Limitation and the annual benefit is subject to the Section 415 Limitation.
The Section 415 Limitation contained in Article XI of the Pension Plan shall not be taken into account.
Each Salaried Plan Participant whose benefit under the Salaried Plan is curtailed by the Compensation Limitation or the Section 415 Limitation, or both, and each other Salaried Plan Participant whose 1988 pensionable “earnings” under the Salaried Plan, as described in Section 4.2(a), were $75,000 or more shall participate in this Plan.