Originally Posted by
george7117
The interim rule is my concern. Based on the contingent benefit issue. I just don't need to rush this prior to IRS approval. As written, the interim rule limits the ability for me to maximize "my" company contributions. I do not want to spill into the MBCP. After full IRS approval we will get to choose how that spill works, but not with this LOA, as I read it. Respectfully open to being corrected.
Thats not an interim rule. Its a permanent change.
Effective for plan years commencing on or after January 1, 2025, direct employer contributions for each plan year shall be no greater than the dollar limit under Section 415(c) minus the dollar limit under 402(g) (not to include catch-up contributions) or, the corresponding limits under the Puerto Rico tax code, if applicable (“PRAP Direct Contribution Limit”).