Jakyasar Posted August 17, 2021 Posted August 17, 2021 Hi Looking into a new plan possibility. Company A started 4/1/2020 (with a 12/31/2020 year end) and want to set up a db/ps plan for 2020. Non PBGC 2 owners, each with 90k salary. Total 2020 compensation 180k Do you agree that there is no 415 proration here for salaries/deductions? I have always thought/did 415 limits when everyone was at maximum, never such low levels. For example, I can generate a DB deduction 100k (based on 9k salaries each) and 10.8k of ps (6% of 180k) for 2020 using full salaries? Thank you QKA, QKC, QPA, CBS - I used to be indecisive about pensions but now I am not so sure
Jakyasar Posted August 18, 2021 Author Posted August 18, 2021 Both plan and limitation year, correct? Thank you QKA, QKC, QPA, CBS - I used to be indecisive about pensions but now I am not so sure
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