Is interest because of delayed payment also subject to 415 Limit?

[HRyan]

New to the forum but long-time reader, great information on this board. I have the following situation:

Company has a retiree whose benefit is limited by 415. There was a delay of 4 months before benefit payments commenced. Company wants to pay interest for the months the payment was delayed. Would this interest for the 4 months of delay be subject to the 415 limit?

Thanks