Defined Benefit Cap Prior to Social Security normal retirement age.

[jlf]

Under IRC 415, what is the maximum retirement benefit from a governmental DB plan starting at age 55?

[Guest Joe Hoho]

Based on the GAM83 (50%male/50% female) mortality table as required by GATT and a 5% interest rate, I believe that it is $80,008 at age 55 as of 2000.

[jlf]

Let's assume the DB is $100,000, how is the $20,000 overage treated if one retires at age 55? Thanks

[Carol V. Calhoun]

You could not receive the $20,000 from the plan. Whether you could receive it at all (even outside of the plan) would depend on whether the employer also had an "excess benefit plan" as described in Code section 415(m).