Limits in Plan Termination

Calendar year 401(k) plan terminates 1/24/2019, final distribution 4/5/2019.

Am I correct that a 50+ year old participant has a 415 limit of $10,666.67?

Thanks very much.

They have a 415 limit of $4,666.67, 1/12 of $56,000, plus a 401(k) catch-up of $6,000 available to the extent other limits are reached, so yes, you could say they effectively have a $10,666.67 415 limit.

Would need at least that much comp in January, b/c of 100% of comp limit. BTW, if anyone questions the result provided by CuseFan, the cite is 1.415(j)-1(d)(3).

Thank you.