TITLE 50: INSURANCE
CHAPTER I: DEPARTMENT OF INSURANCE
SUBCHAPTER aaa: PENSIONS
PART 4445 IRS QUALIFICATION STATUS REQUIREMENTS FOR ARTICLE 4 FIREFIGHTER PENSION FUNDS
SECTION 4445.160 DEFINITION OF ANNUAL BENEFIT


 

Section 4445.160  Definition of Annual Benefit

 

For purposes of IRC section 415(b), the "annual benefit" means a benefit payable annually in the form of a straight life annuity (with no ancillary benefits) without regard to the benefit attributable to after-tax employee contributions (except pursuant to IRC section 415(n)) and to rollover contributions (as defined in IRC section 415(b)(2)(A)).  The "benefit attributable" shall be determined in accordance with Treasury Regulations (26 CFR 1.415(b)(2)(A)).