What are the 2002 DB limits?

DB/DC Comp limit for Plan Years BEGINNING in 2002: $200,000

DB Maximum annuity at retirement ages 62-65 for plan years ENDING in 2002:$160,000/year straight life annuity. (higher limits for retirement ages > 65, lower limits for retirement ages <62 or other forms of payment)

Correct. But the plan must recognize the change in comp. limit (generally that means a plan amendment) in order for it to have any effect.

Pax, this would not be the case if the plan incorporates the limits by reference to the applicable Code section (e.g., the Plan says that benefits are limited pursuant to Code section 415(B)). However, if your plan says $160,000 under 415(B) as adjusted by COLAs - that's not good enough because the increase from $160,000 to $200,000 is not a COLA but a statutory increase.

So, the answer really depends on the plan language.