Common use of Amount of Contributions Clause in Contracts

Amount of Contributions. (a) Contributions may vary in amount and frequency; however, they must be at least equal to a minimum annual Contribution of $300 per Participant in any full Contract Year. AUL may change such minimum annual Contribution acceptable under this contract, but any such change shall apply only to individuals who become Participants on or after the date of the change. This contract will not terminate solely because a Contribution is not made for any Contract Year. (b) Except for amounts eligible for rollover treatment under Code Sections 402(a)(5), 402(a)(6), 402(a)(7), 403(a)(4), 403(b)(8), or 408(d)(3), Contributions during a Participant's taxable year (which is presumed to be a calendar year) must be made in cash and may not exceed the amounts described below (as adjusted by Code Section 408(a)): (1) the lesser of $2,000 or 100% of compensation includible in the Participant's gross income for such taxable year; or (2) the lesser of $2,250 or 100% of compensation includible in the Participant's gross income for such taxable year if a Contribution is made on behalf of the Participant's non-employed spouse (no more than $2,000 may be allocated to either the Participant or his spouse); or (3) the lesser of $30,000 (or, if greater, 25% of the dollar limitation in effect under Code Section 415(b)(1)(A)) or 15% of compensation in the case of a simplified employee pension (SEP, as described in Code Section 408(k))

Amount of Contributions. (a) Contributions may vary in amount and frequency; however, they must be at least equal to a minimum annual Contribution of $300 per Participant in any full Contract Year. AUL may change such minimum annual Contribution acceptable under this contract, but any such change shall apply only to individuals who become Participants on or after the date of the change. This contract will not terminate solely because a Contribution is not made for any Contract Year. (b) Except for amounts eligible for rollover treatment under Code Sections 402(a)(5), 402(a)(6), 402(a)(7), 403(a)(4), 403(b)(8), or 408(d)(3), Contributions during a Participant's taxable year (which is presumed to be a calendar year) must be made in cash and may not exceed the amounts described below (as adjusted by Code Section 408(a)): (1) the lesser of $2,000 or 100% of compensation includible in the Participant's gross income for such taxable year; or or (2) the lesser of $2,250 or 100% of compensation includible in the Participant's gross income for such taxable year if a Contribution is made on behalf of the Participant's non-employed spouse (no more than $2,000 may be allocated to either the Participant or his spouse); or or (3) the lesser of $30,000 (or, if greater, 25% of the dollar limitation in effect under Code Section 415(b)(1)(A)) or 15% of compensation in the case of a simplified employee pension (SEP, as described in Code Section 408(k))

Amount of Contributions. (a) Contributions may vary in amount and frequency; however, they must be at least equal to a minimum annual Contribution of $300 per Participant in any full Contract Year. AUL may change such minimum annual Contribution acceptable under this contract, but any such Contribution. Such change shall apply only to individuals who become Participants on or after the date of the change. This contract will not terminate solely because a Contribution is not made for any Contract Year. (b) Except for amounts eligible for rollover treatment under Code Sections 402(a)(5), 402(a)(6), 402(a)(7), 403(a)(4), 403(b)(8), or 408(d)(3), Contributions during a Participant's taxable year (which is presumed to be a calendar year) must be made in cash and may not exceed the amounts described below (as adjusted by Code Section 408(a)): (1) the lesser of $2,000 or 100% of compensation includible in the Participant's gross income for such taxable year; or (2) the lesser of $2,250 or 100% of compensation includible in the Participant's gross income for such taxable year if a Contribution is made on behalf of the Participant's non-employed spouse (no more than $2,000 may be allocated to either the Participant or his spouse); or (3) the lesser of $30,000 (or, if greater, 25% of the dollar limitation in effect under Code Section 415(b)(1)(A)) or 15% of compensation in the case of a simplified employee pension (SEP, as described in Code Section 408(k))