Find the Amount Subject to Limits

You indicate that benefits are subject to 415 limits by selecting the Use Formset in 415 Processing check box on the Optional Forms pages.

If you have multiple benefit formulas and optional formsets representing the same benefit (for example, an early retirement benefit and a normal retirement benefit), include only one.

In a contributory plan, only the employer-paid portion of a benefit is subject to 415 limits.

Section 415 limits are always applied to the single life annuity value of a benefit. If the normal form of a benefit is not a single life annuity, be sure to include single life annuity in the optional formset. If the single life annuity is only for 415 purposes and is not an actual option for your employees, you can select the For 415 Only check box in the optional forms definition. This prevents the option from appearing in the calculation results.