The new 415 regulations require us to limit a benefit to the lesser of the 415 dollar limit (as adjusted for RA > 65 and <62) or the 401(a)(17) comp limit.

Does the 401(a)(17) limit for 415 purposes apply even if the participants 3 year average is less than the 401(a)(17) limit?

For example

Participant age 68
20 yrs service
7 yrs of participation
$14,500 average comp
401(a)(17) average comp limit $18,194 mo.

Is it $18,194 x 7/10 = $12,736

Thanks much

401(a)(17) limits apply to lower the pay used when determining the 415(b) compensation rules.

But there is nothing there that raises 415(b) limits above the actual hi 3 pay.