415 Limit 2024 Defined Benefit. 1, 2024, the limitation on the annual benefit under a defined benefit plan under section 415 (b) (1) (a) of the code is increased from $265,000 to.  — the dollar limitations adjusted by reference to irc section 415(d) are modified annually for inflation and, consequently, most of them are changed for 2024.

 — defined benefit plan the lesser of the maximum dollar limitation for annual benefits under defined benefit plans under internal revenue code (irc) section. Except as otherwise provided under this section, a defined benefit plan fails to satisfy the requirements of section 415 (a) for a limitation year if, during the limitation year, either.