Incorporation of 415 Limits into a Jobstream

Section 415 limits apply to multiple plans. Because the 415 limits function must process all plans together, you create a single 415 limits function result for all plans. Do not create one per plan. Create only one for the entire application.

Normally the calculation processes each plan in the order you specify on the Plan Order page. Within each plan, the calculation processes function results in the order that you specify on the Plan Implementation page. Your 415 limits function result is an important exception to this rule.

When the calculation encounters a 415 limits function result in a plan, processing for that function result is delayed. The calculation continues with any remaining processing for that plan and with any subsequent plans until it encounters a nonqualified plan (or finishes processing all plans, if all plans are qualified). At this point, the system processes the 415 limits. Nonqualified plans are processed after the 415 limits.

Note:

To ensure proper 415 limits processing, order your plans so that all qualified plans run before all nonqualified plans.

When 415 limits are processed, the optional forms reflect both the limited and unlimited amounts. However, benefit formula results are not adjusted to show the limits. Because the benefit formula is not adjusted, you cannot reference the unlimited amount if you want to find the difference between the limited and unlimited benefit—for example, if you have a nonqualified plan that makes up the difference.

Because the 415 limits function always runs at a specific point in the calculation, you have some flexibility as to which plan houses your 415 limits function result. You do need to put it in one of the plans before the 415 limits processing point—that is, into one of your qualified plans.