415 Dollar Limit Increase

[Dougsbpc]

Suppose you have a plan that was not frozen. Instead, the plan was amended to reduce the benefit formula a few years ago.

As a consequence, most full time participants have not accrued additional benefits over and above their grandfathered accrued benefits for the past two years. All will next year as the new benefit will exceed grandfathered benefits.

I would think participants would be entitled to a 415 dollar limit increase for the two years when they did not have an increase in their accrued benefit. This because they would have met all the requirements to accrue a benefit for those years.

Anyone agree / disagree?

Thanks

[Andy the Actuary]

What does the plan language provide?