Defined benefit pension 415 limits



I am age 40 and a participant in a defined benefit pension
plan. I have been told that the amount of my pension will
be reduced due to 415 limitations. My plan has no age
penalties built-in and is a "20 and out plan" that provides
retirement benefits to retirees after 20 years. It is also
not a government plan, I work for a private company. Here
are a few questions:

1. How is the calculation performed to determine the maximum
annual benefit I can recieve? I believe the 2006 amount is
$175,000 at age 65, but how do you calculate the amount
someone 40 can recieve?

2. What happens in the years following retirement? Is the
limit recalculated each year or is your amount fixed at the
amount calculated when you retire?

3. Is there a resource available that is written so the
average person can understand how EGTRRA has impacted
defined benefit pension plans?
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