Illinois Administrative Code (Last Updated: March 27, 2024) |
TITLE50. INSURANCE |
PART4440. IRS QUALIFICATION STATUS REQUIREMENTS FOR ARTICLE 3 POLICE PENSION FUNDS |
SUBPARTD. RULE ON 415 LIMITATIONS |
§4440.180. Benefits Not Taken into Account for 415(b) Limit
Latest version.
-
For purposes of this Section, the following benefits shall not be taken into account in applying these limits:
a) Any ancillary benefit that is not directly related to retirement income benefits;
b) That portion of any joint and survivor annuity that constitutes a qualified joint and survivor annuity;
c) Any other benefit not required under IRC section 415(b)(2) and related Treasury Regulations (26 CFR 1.415(b)) to be taken into account for purposes of the limitation of IRC section 415(b)(1).