In this section, the following terms have the meanings indicated. “Annual additions” means the sum of the following amounts credited to a member’s account for the Limitation Year:Mandatory employee contributions made under<cite data-path="|22A|§5-2">§ 5-2 {“Mandatory contributions by non-hybrid members”} of this subtitle</cite>; and Employer contributions made under<cite data-path="|22A|§5-3">§ 5-3 {“Employer contributions”} of this subtitle</cite>. “Annual additions” includes makeup contributions made under <cite data-path="|22A|§5-5">§ 5-5 {“Makeup contributions after military leave”} of this subtitle</cite> for the limitation year to which the contributions relate (not for the limitation year in which the contributions are made). “Annual additions” does not include rollover contributions made under <cite data-path="|22A|§5-4">§ 5-4 {“Rollover contributions”} of this subtitle</cite>. “Limitation year” means a calendar year. “Section 415 compensation” means wages, within the meaning of IRC § 3401, plus amounts that would be included in wages but for an election under IRC § 125, § 132(f)(4), § 402I(3), § 402(h)(1)(B), § 402(k), or § 457(b), and all other payments of compensation to an employee by a participating employer for which the employer is required to furnish the employee a written statement under IRC § 6041(d), § 6051(a)(3), or § 6052. Section 415 compensation must be determined without regard to any rules under IRC § 3401 that limit the remuneration included in wages based on the nature or location of the employment or the services performed (such as the exception for agricultural labor in IRC § 3401(a)(2)). Section 415 compensation for a limitation year is the Section 415 compensation actually paid or made available in gross income for that limitation year. “Section 415 compensation” includes the following amounts paid after an employee’s severance from employment with a participating employer, if those amounts would have been included in subparagraph (i) of this paragraph had they been paid before severance and if those amounts are paid to the employee before the later of 2½ months after severance or the end of the calendar year in which the severance becomes effective:regular payments made after severance, if:the payments are:compensation for services during the employee’s regular working hours; compensation for services outside the employee’s regular working hours (such as overtime or shift differential); or commissions, bonuses, or other similar payments; and the payments would have been paid to the employee before severance had the employee continued to be employed by the employer; and payments made after severance for accrued and unused bona fide sick, vacation, or other leave, if the employee would have been able to use that leave had the employee continued to be employed by the employer. “Section 415 compensation” for a limitation year does not include compensation in excess of the compensation limit applicable to that limitation year under IRC § 401(a)(17). Notwithstanding any other provision of <cite data-path="|22A">this article</cite>, to the extent required under the Internal Revenue Code, the annual additions that are credited to the account of any member in any limitation year may not exceed the lesser of:$40,000, as adjusted by cost-of-living increases under IRC § 415(d); or 100% of the member’s Section 415 compensation for the limitation year. If, for any limitation year, the annual additions that are credited to the account of a member exceed the limitation set forth in subsection (b) of this section, the City must follow any applicable correction methodology authorized by the Internal Revenue service under the Employee Plans Compliance Resolution System (“EPCRS”) or otherwise. Ord. 14-216