IRC 401(a)(17) is a section of the Internal Revenue Code (IRC) that specifies a limit on how the amount of compensation (annual compensation limit) can be used to calculate a person's retirement benefit.
Mar 7, 2024
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Mar 19, 2024 · Thus, for the first plan year, the prorated short year limit for the initial plan year under IRC Section 401(a)(17) is $68,750 ($275,000 x (3/12) ...
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Section 401(a)(17) of the IRC imposes a limit on the amount of annual compensation that can be used to calculate a participant's retirement benefit. The ...
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401 (a)(17) Compensation Limit - Ventura County Employees ...
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Internal Revenue Code (IRC) section 401(a)(17) and IRS guidance issued under that Code section provide limits on the amount of compensation that may be ...
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annual compensation - $345,000 in 2024 ($330,000 in 2023, $305,000 in 2022, $290,000 in 2021, $285,000 in 2020, $280,000 in 2019) (IRC Section 401(a)(17)) ...
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Section 401(a)(17) provides an annual compensation limit for each employee under a qualified plan. This limit applies to a qualified plan in two ways. First, a ...
The 2023 plan year Section 401(a)(17) compensation limits for a participant whose employment date is on or after April 9, 1996, is based on the standard ...
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(a) Requirements for qualificationA trust created or organized in the United States and forming part of a stock bonus, pension, or profit-sharing plan of an ...
May 24, 2021 · However, the 401(a)(17) limit for 2020 was $285,000. The plan has a pro rata allocation formula of 5% of the participant's eligible compensation ...
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Mar 18, 2008 · 1) Employee A does not participate in the plan until May. By that time, he has already made in excess of $230,000 in eligible compensation. Can ...