TITLE 50: INSURANCE
CHAPTER I: DEPARTMENT OF INSURANCE
SUBCHAPTER aaa: PENSIONS
PART 4445 IRS QUALIFICATION STATUS REQUIREMENTS FOR ARTICLE 4 FIREFIGHTER PENSION FUNDS
SECTION 4445.230 EFFECT OF COLA WITH A LUMP SUM COMPONENT ON 415(B) TESTING


 

Section 4445.230  Effect of COLA with a Lump Sum Component on 415(b) Testing

 

On and after January 1, 2009, with respect to a member who receives a portion of the member's annual benefit in a lump sum, a member's applicable limit will be applied taking into consideration cost of living increases as required by IRC section 415(b) and applicable Treasury Regulations (26 CFR 1.415(b)).