Section 415 Limitation definition

Section 415 Limitation means the limitation on benefits for qualified defined benefit pension plans and the limitation on allocations for qualified defined contribution plans, which are imposed by Section 415(b) and (c), respectively, of the Code, or any successor provision thereto.

Section 415 Limitation means the limitation, imposed by section 415 of the Code, on the amount of retirement benefits payable from a qualified retirement plan to a participant in such plan.

Section 415 Limitation means the limitation under Section 415 of the Code on annual benefits payable from the Retirement Plans.

Examples of Section 415 Limitation in a sentence

• 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 amount credited to a Participant’s Account for a Plan Year to compensate the Participant for the portion of the Employer Contributions lost due to (a) the Compensation cap as set forth in Code section 401(a)(17), and (b) the Section 415 Limitation, in accordance with the terms set forth in Article IV.

• Unfortunately, the efforts appear to be only within the private sector and NGO driven.

• Section 4.15 Limitation on Lines of Business.................................

• Except as provided below, prior to the beginning of the calendar year in which it is estimated that Excess Contributions would be made to the SIP Plan by or on behalf of a SIP Participant, the Company shall notify the SIP Participant that some or all of his contributions to the SIP Plan, or those made on his behalf, shall cease as of the earlier of (1) the date such contributions equal the Section 415 Limitation or (2) the date his Eligible Earnings equal the Compensation Limitation.

More Definitions of Section 415 Limitation

Section 415 Limitation means the limitation on Annual Additions described in Section 6.3 of the SIP Plan.

Section 415 Limitation means the limitation under Section 415 of the Code on annual benefits payable from the Pension Plan.

Section 415 Limitation means, as the case may be, the limitation on annual additions (in the form of employer and employee contributions) to the Savings Plan imposed by section 415 of the Code, including all provisions of the Savings Plan that have been adopted to comply with section 415 of the Code.

Section 415 Limitation means the limitation on benefits for qualified defined benefit pension plans and the limitation on allocations

Section 415 Limitation means the annual limit imposed by Section 415 of the code on contributions and other additions, which may be made with respect to a Participant under Qualified Plans in which he participates.

Section 415 Limitation means the limitation on annual benefits that may be provided under the Pension Plan imposed by Section 415 of the Code, as such limitation is from time to time adjusted.

Section 415 Limitation means the limitation of the benefit of any one Participant under Code Section 415 or any successor provision to such Code Section, as adjusted from time to time on amounts which can be contributed to the Company's qualified retirement plan(s) for the benefit of any one employee.