3 pages. Excerpt: On May 31, 2005, the IRS proposed new regulations under section 415 of the [IRC]. Section 415 limits the benefits that may be paid by defined benefit plans and contributions that may be made to defined contribution plans. While some of the provisions may be a restatement of the current rules or a codification of guidance issued over the years since the current regulations were adopted, other provisions may represent new interpretations that need to be studied carefully.