If the soft starter has motor thermal overload protection (and most do at that size), all you really need the circuit breaker for is short circuit protection, which can be as high as 1300% of motor FLC. The thermal element in the breaker is made redundant and unnecessary by the TOL in the starter. I know the code doesn't specifically say that, but most inspectors know it and accept that concept. Think of it this way, what if the soft starter had been built at the factory with a Mag-Only breaker? Still perfectly legal and it has NO thermal elements at all. You of course cannot use a Mag-Only breaker in the field, but the concept is the same, you can size it based on the magnetic trip elements.
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