INTERNAL REVENUE CODE SECTION 415(b) FACT …
Ohio Public Employees Retirement System277 E. Town St. Columbus, OH 43215-4642 REVENUE code (IRC) SECTION 415(b) limits an individual s pension amount. An individual's benefit allowance is limited to the lesser of the OPERS benefit calculation or the IRC 415(b) limit. Only the portion of the retirement benefit attributable to employer contributions as well as picked up employee contributions is compared to the limits underIRC 415(b).The IRC 415(b) limit which affects public employees is the Dollar Limit ($215,000 in 2017). Under the Dollar Limit, which is adjusted based on age, the portion of the benefit amount attributable to employer contributions and picked up employee contributions may not exceed the dollar amounts for 2017, shown on the next a small number of OPERS members are affected by the IRC 415(b) limit.
Ohio Public Employees Retirement System 277 E. Town St. – Columbus, OH 43215-4642 www.opers.org Internal Revenue Code (IRC) Section 415(b) limits an …
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