Guest Therese Posted November 5, 2001 Posted November 5, 2001 I understand that GATT does not apply for purposes of calculating benefit payments, but does it apply for purposes of valuing benefits under Code sec. 415?:confused:
Carol V. Calhoun Posted November 5, 2001 Posted November 5, 2001 I believe that it does. And in my experience, a great many governmental plans are not aware of the subtleties of 415--they just figure that if the annual benefit does not exceed the amount set forth in the statute, they are okay. However, in many instances a plan will provide for a lump sum (e.g., of a DROP benefit), the return to a survivor of employee (after-tax or picked up) contributions, or other features that would require the adjustment of the 415(B) amount. Employee benefits legal resource site The opinions of my postings are my own and do not necessarily represent my law firm's position, strategies, or opinions. The contents of my postings are offered for informational purposes only and should not be construed as legal advice. A visit to this board or an exchange of information through this board does not create an attorney-client relationship. You should consult directly with an attorney for individual advice regarding your particular situation. I am not your lawyer under any circumstances.
Guest Therese Posted November 6, 2001 Posted November 6, 2001 Thanks for your reply - also for the summary of government requirements on your website, which was very helpful.
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