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Federal
Limits on Benefits
An Option 1 benefit under the PERA benefit structure can never exceed a 100 percent of HAS. This 100 percent limit does not apply to benefits under the DPS benefit structure.
If you are under the DPS benefit structure, choose Option P3, and name someone other than your spouse who is more than 10 years younger than you as your cobeneficiary, the amount that continues to your cobeneficiary at your death could be limited in accordance with percentages required by the Internal Revenue Code regulations.
Benefits paid under both the PERA and DPS benefit structures are subject to a federal annual limit on the amount of retirement benefits that PERA retirees may receive under Internal
Revenue Code (IRC) Section 415.
IRC Section 415 benefit limits are designed to prevent individuals from accruing excessive pension benefits on a tax-deferred basis. PERA cannot pay any benefit amount in excess of these federally imposed limits.
Because the determination of these limits is complex, you should request a benefit estimate from PERA within one year of your anticipated retirement date.
For more information, see the
Internal Revenue Code 415(b) Limits fact sheet or call PERA's Customer Service Center.
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