Normal Retirement Age: 62Plan Assumptions: Interest 4

Multiple Choice

Normal retirement age: 62Plan assumptions: Interest 4.0% Mortality 1994 GARDeath benefit prior to retirement is the present value of accrued benefits. Benefit at late retirement is the greater of continued accruals and an actuarial increase. Selected data for Smith: Date of birth 12/31/1942 Date of hire 1/1/2000 Date of participation 1/1/2006 Date of retirement 12/31/2012 Compensation for each year of service $225,000Selected commutation functions:5% and applicable mortalityx N(12) x D x N(12) X Dx62 598,284 46,091 1,466,321 82,76965 470,592 38,961 1,232,637 72,90070 301,642 28,773 904,410 58,535In what range is Smith's annual IRC section 415 limit as of 12/31/2012?

A) Less than $175,000
B) $175,000 but less than $190,000
C) $190,000 but less than $205,000
D) $205,000 but less than $220,000
E) $220,000 or more