b'EXCESS BENEFIT PLANTIER 1 TIER 2 TIERS 3 AND 4 TIER 5 TIER 622. Excess Benefit Plan (paid by the Citys General Fund)Plan to supplement the benefits of certain highly compensated pensioners to the extent such benefits areYes Yes Yes Yes Noreduced by the limitations on benefits imposed by Section 415 of the Internal Revenue CodeThe Internal Revenue Code (IRC) Section 415(b) contains the provisions of federal law which limit the amount of annual retirement benefits payable directly from a plan sponsor for qualified defined benefit pension plans, such as the Los Angeles Fire and Police Pension Plan (LAFPP). The excess benefit limit typically only impacts highly compensated employees who have accrued significant retirement benefits. Under certain circumstances, any benefits in excess of this limit may be paid through an Excess Benefit Plan.The IRC Section 415(b) limits the distribution amount paid to an individual from all of the plan sponsors qualified defined benefit plans. The City created an Excess Benefit Plan (EBP) to allow members of Tiers 1 through 5 to receive a full formula-based retirement allowance, despite the LAFPP benefit exceeding the maximum IRC limit. The pensioners total monthly retirement benefit will not change. The affected pensioners will receive one payment from LAFPP and the EBP payment directly from the City Controllers Office.Members of Tier 6 are not included in the Citys Excess Benefit Plan, which is authorized for Tiers 1-5 of the LAFPP by Division 4, Chapter 23 of the Los Angeles Administrative Code. Los Angeles City Charter Section 1720 restricts benefits payable to Tier 6 members to the IRC Section 415 limitations.DisclaimerThe Summary of Plan Provisions describes in informal language, the provisions of Tiers 1 - 6. The intent is to summarize legal texts in a clear and concise manner. If there is a difference between this guide and the legal text outlined in the Los Angeles City Charter, the Los Angeles Administrative Code, the Internal Revenue Code, or other laws, the legal text prevails.SECTION 8 Summary of Plan Provisions 163'