DEFINED BENEFIT 415 LIMITS

If you are the owner or a partner of a business that sponsors a Defined Benefit plan, it can be very helpful in your financial planning to know the maximum funding limit within your plan.
 

The following chart illustrates this by age based on 2023 IRS limits.

Valuation Date: 12/31/2023
Compensation Limit: $330,000
Benefit Limit: $265,000
Mortality: IRC 417(e) Lump Sum Table for 2023

Age

Benefit

Lump Sum

70 $330,000 $352,574
69 $330,000 $362,572
68 $330,000 $372,318
67 $306,840 $355,007
66 $284,995 $337,706
65 $265,000 $321,251
64 $265,000 $328,306
63 $265,000 $335,181
62 $265,000 $341,904
61 $247,356 $325,261
60 $231,081 $309,431
59 $216,060 $294,375
58 $202,184 $280,056
57 $189,351 $266,437
56 $177,468 $253,484
55 $166,443 $241,165
54 $156,213 $229,447
53 $146,719 $218,302
52 $137,900 $207,702
51 $129,698 $197,620
50 $122,064 $188,030
49 $114,950 $178,909
48 $108,313 $170,234
47 $102,115 $161,982
46 $96,322 $154,132
45 $90,903 $146,666
44 $85,828 $139,564
43 $81,074 $132,808
42 $76,615 $126,382
41 $72,430 $120,269
40 $68,501 $114,454
39 $64,807 $108,922
38 $61,334 $103,659
37 $58,066 $98,652
36 $54,988 $93,889
35 $52,088 $89,357
34 $49,355 $85,046
33 $46,776 $80,944
32 $44,343 $77,041
31 $42,045 $73,328
30 $39,876 $69,795
29 $37,825 $66,433
28 $35,888 $63,234
27 $34,055 $60,190
26 $32,323 $57,294

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