DeferralLimit403
returns
the 403(b) Elective Deferral Limit dollar amount for a
given year. The annual addition credited to the account of a participant in a
defined contribution plan for the limitation year cannot exceed this amount.
DeferralLimit403 is:
·
1997 and later: same as DeferralLimit
·
Prior to 1997: $7,500
DeferralLimit403 is the same as DeferralLimit
for years
1997 and later. Prior to 1997 DeferralLimit403 was $9,500.
Syntax
DeferralLimit403 (DeterminationYear, [LawYear],
[Inflation])
|
Parameter Name |
Description |
|
DeterminationYear |
A
4 digit number, or an optional text value as shown in the table below. If the
DeterminationYear is after the LawYear, this is a projected
calculation based on the Inflation assumption. Click to view various options for the DeterminationYear parameter. |
|
LawYear |
A
4 digit number. |
|
Inflation |
The
assumed rate of inflation: the IRS
Cost-of-Living Adjustment for future years, as measured by the
year-over-year increase in CPI-U. This
is used only for a projected calculation. Optional:
default = 0% |
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