Document Excerpt

Section 415 of the Internal Revenue Code (the Code) provides for Dollar limitations on benefits and contributions under qualified retirement plans. Section 415(d) requires that the Secretary of the Treasury annually adjust these limits for cost-of-living increases. Other limitations applicable to deferred compensation plans are also affected by these adjustments under § 415. Under § 415(d), the adjustments are to be made under adjustment procedures similar to those used to adjust benefit amounts under § 215(i)(2)(A) of the Social Security Act.

Link

https://www.irs.gov/pub/irs-drop/n-19-59.pdf?utm_source=Copy+of+ERISA+Law+Alert+-+2019+COLA&utm_campaign=DOL+Fiduciary+Rule+Apr+2015&utm_medium=email