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In the latest installment of PLANSPONSOR‘s Ask the Experts series, senior counsel Kimberly Boberg, principal Kelly Geloneck, associate Emily Gerard, and principal David Levine address whether mandatory contributions are subject to the Internal Revenue Code Section 415 annual additions limit. Their response explains how mandatory contributions are treated under Section 415 and distinguishes the limit from the Section 402(g) elective deferral limit.
The authors note that while mandatory contributions are not subject to the Section 402(g) elective deferral limit, they generally are subject to the Section 415 annual additions limit. Although certain amounts, including rollover contributions and eligible catch-up contributions, are excluded from annual additions, mandatory contributions are not among those exclusions.
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