415 Limit Non-Calendar Year Plans

[Guest dyoder]

I just want to make sure I understand how to apply the 415 limits to a non-calendar year plan. If the limitation/plan year ends June 30, 2005, is the limit $42,000?

[Guest quinn the car fixer]

the 415 limit is the limit for the yr in which the plan yr ends-- 42k for your plan

[SoCalActuary]

It's always about the document. If your document defines the limitation year as the plan year, then look to the limit for your plan year end. But watch out for documents that use another definition.