Defined contribution plan - Limitation on the annual benefit
Answer:
For 2016, the annual benefit cannot exceed the lesser of: 100% of the participant's average compensation for his or her highest 3 consecutive calendar years or $210,000.
For 2014 and 2015, the annual benefit cannot exceed the lesser of: 100% of the participant's average compensation for his or her highest 3 consecutive calendar years or $210,000.
For 2013, the annual benefit cannot exceed the lesser of: 100% of the participant's average compensation for his or her highest 3 consecutive calendar years or $205,000.
For 2014 and 2015, the annual benefit cannot exceed the lesser of: 100% of the participant's average compensation for his or her highest 3 consecutive calendar years or $210,000.
For 2013, the annual benefit cannot exceed the lesser of: 100% of the participant's average compensation for his or her highest 3 consecutive calendar years or $205,000.
