Tax Drill - Maximum Amounts Complete the following statements regarding defined benefit and defined contribution plans. For a defined benefit plan, the maximum annual benefits payable may not exceed the larger of (1) $ (in 2019) or (2) % of the participant's average earnings in the highest years of employment. For a defined contribution plan, the maximum annual contribution to an account may not exceed the larger of (1) % of the participant's compensation ( % for a profit sharing plan, $ (in 2019) or (2) money purchase plan, or stock bonus plan)