Chartered Retirement Planning Counselor (CRPC) Practice Exam 2026 - Free CRPC Practice Questions and Study Guide

The maximum employer contribution that could be allocated to a participant's money purchase plan account for the year 2015 was indeed set at $53,000. This figure reflects the contribution limit established by the Internal Revenue Service (IRS) for defined contribution plans, which includes money purchase plans.

In 2015, the overall limit for contributions to a defined contribution plan was defined in accordance with the IRS guidelines, which adjusted these amounts periodically to keep pace with inflation and changes in the economic environment. The $53,000 limit includes all employer contributions made to that participant's account and serves to ensure that contributions are managed within permissible limits to facilitate adequate retirement savings while also maintaining tax advantages for both the employer and the employee.

Understanding the specific limits for employer contributions to retirement plans like money purchase plans is crucial for both plan sponsors and participants. It helps them stay compliant with IRS regulations and maximizes the retirement savings potential for employees.