The Advanced Screen provides space to specify information for non-standard 415(b) maximum benefit limitation calculations.

• 415(b) Compensation Limit Averaging Period: space to specify the periods to be used when measuring compensation for the purpose of the 415(b) average compensation limit. Select how periods are to be determined (regular intervals or variable intervals created backwards from date) as well as either the anniversary Month and Day of the anniversary year or how to round the period end date.
• Early/Late Retirement Limit Adjustments: this section is used to override the methodology for calculating adjustments to the 415(b) limit for early/late retirement.
• Interest Rate Overrides: if an override is required, enter the interest rate that should be used instead of the plan rate when determining the 415(b) limit age adjustment. Separate overrides are possible pre-62 and post-65 using the boxes labeled Retirements Prior to Age 62 and Retirements After Age 65, respectively.
• No Mortality Pre-62/Post-65: check this box if you do not wish to include mortality in the determination of the early/late retirement limit adjustments pre-62 and post-65.
• 415(b) Dollar Limit Determination:
  
  
  • Determination Basis: select whether to determine the dollar limitation based upon Calculation Date (standard) or Payment Start Year.
  • Maximum Limitation Year: if there is year beyond which the 415(b) limitation year should not increase (generally only applies for frozen plans), then enter that year value here.
  • Apply year limit to applicable mortality table: if this box is checked (non-standard) and there is a Maximum Limitation Year also specified, the applicable mortality table will also be limited to the year specified above.
• Filters: use filters to restrict which participants are subject to different components of the 415(b) rules. For example, if only certain groups of participants are subject to the Average Compensation portion of the limit, write a formula that returns TRUE for all individuals subject to that component of the limit.
• Other Options:
  
  
  • Pilot Mandatory Retirement Age: if applicable, enter the mandatory retirement age for a commercial pilot pension plan. If retirement is required at age 60 or above, no early adjustment is applied to the dollar limitation at those ages.
  • 417(e) Mortality Table: if this plan pays lump sums, specify the annuity factor which uses 417(e) mortality and interest. This will cause DB Precision to not allow the lump sum to exceed 105% of the value of the limit using 417(e) mortality and interest rates.
  • Service Overrides: use the Participation Service Override and Vesting Service Override dropdowns if you need to use a Formula Derived Item to override the participation or vesting service amounts that are used when determining the benefit limit.