Applicable Amount. The applicable amount is determined below:
1. If the Xxxx XXX Owner is under age 50, the applicable amount is $5,000 for any taxable year beginning in 2008 and years thereafter. After 2008, the applicable contribution limit may be adjusted by the Secretary of the Treasury for cost-of- living increases under Code Section 219(b)(5)(D). Such adjustments will be in multiples of $500.
2. If the Xxxx XXX Owner is 50 or older, the applicable amount under Section 4.01(B)(1) of this Agreement is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.
3. If the Xxxx XXX Owner was a participant in a Code Section 401(k) plan of a certain employer in bankruptcy described in Code Section 219(b)(5)(C), then the applicable amount under Section 4.01(B)(1) of this Agreement is increased by $3,000 for taxable years beginning after 2006 and before 2010 only. A Xxxx XXX Owner who makes contributions under this Section may not also make contributions under Section 4.01(B)(2) of this Agreement.
Applicable Amount. The applicable amount is determined below:
(i) If the Depositor is under age 50, the applicable amount is $6,000 for any taxable year beginning in 2008 and years thereafter. After 2008, the $6,000 amount will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code § 219(b) (5) (D). Such adjustments will be in multiples of $500.
(ii) If the Depositor is 50 or older, the applicable amount under paragraph (i) above is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.
(iii) If the Depositor was a participant in a Code § 401(k) plan of a certain employer in bankruptcy described in Code § 219(b)(5)(C), then the applicable amount under paragraph (i) above is increased by $3,000 for taxable years beginning after 2006 and before 2010 only. A Depositor who makes contributions under this paragraph (iii) may not also make contributions under paragraph (ii).
Applicable Amount. The applicable amount is determined under (i) or (ii) below:
i. If the individual is under age 50, the applicable amount is: • $3,000 for any taxable year beginning in 2002 through 2004, • $4,000 for any taxable year beginning in 2005 through 2007, and • $5,000 for any taxable year beginning in 2008 and years thereafter, or • the maximum amount allowable as a deduction under section 219 of the Code, the provisions of which are herein incorporated by reference, with respect to such Individual for such taxable year.
ii. If the individual is 50 or older, the applicable amount is: • $3,500 for any taxable year beginning in 2002 through 2004, • $4,500 for any taxable year beginning in 2005, • $5,000 for any taxable year beginning in 2006 through 2007, and • $6,000 for any taxable year beginning in 2008 and years thereafter, or • the maximum amount allowable as a deduction under section 219 of the Code, the provisions of which are herein incorporated by reference, with respect to such individual for such taxable year.
iii. After 2008, the limits in paragraph (b)(i) and (ii) above will be adjusted by the Secretary of the Treasury for cost-of-living increased under section 219(b)(5)(C) of the Code. Such adjustments will be in multiples of $500.
Applicable Amount. The applicable amount is determined under (1) or (2) below:
1) If the owner is under age 50, the applicable amount is: • $3,000 for any taxable year beginning in 2002 through 2004; • $4,000 for any taxable year beginning in 2005 through 2007; and • $5,000 for any taxable year beginning in 2008 and years thereafter.
2) If the owner is 50 or older, the applicable amount is: • $3,500 for any taxable year beginning in 2002 through 2004; • $4,500 for any taxable year beginning in 2005; • $5,000 for any taxable year beginning in 2006 through 2007; and • $6,000 for any taxable year beginning in 2008 and years thereafter. After 2008, the limits in (ii)(1) & (2) above will be adjusted by the Secretary of the Treasury for cost-of-living increases under IRC Section 219(b)(5)(D). Such adjustments will be in multiples of $500. XX-XX-XXX (07) page YI-1 Contract Number: [C1234567 ] In addition to the amounts described above, an individual who was a participant in a 401(k) plan of a certain employer in bankruptcy described in IRC Section 219(b)(5)(C) may contribute up to $3,000 for taxable years beginning after 2006 and before 2010 only. An individual who makes contributions under this paragraph may not also make contributions under (ii)(2) above.
Applicable Amount. The applicable amount is determined under (i) or (ii) below:
(i) If the Owner is under age 50, the applicable amount is $3,000 for any taxable year beginning in 2002 through 2004, $4,000 for any taxable year beginning in 2005 through 2007, and $5,000 for any taxable year beginning in 2008 and years thereafter.
(ii) If the Owner is 50 or older, the applicable amount is $3,500 for any taxable year beginnning in 2002 through 2004, $4,500 for any taxable year beginning in 2005, $5,000 for any taxable year beginning in 2006 through 2007, and $6,000 for any taxable year beginning in 2008 and years thereafter. After 2008, the limits in paragraph (b)(i) and (ii) above will be adjusted by the Secretary of the Treasury for cost-of-living increases under section 219(b) (5) (C). Such adjustments will be in multiples of $500.
Applicable Amount. The applicable amount is determined under (i) or (ii) below:
(i) If the Owner is under age 50, the applicable amount is $3,000 for any taxable year beginning in 2002 through 2004, $4,000 for any taxable year beginning in 2005 through 2007 and $5,000 for any taxable year beginning in 2008 and years thereafter.
(ii) If the Owner is 50 or older, the applicable amount is $3,500 for any taxable year beginning in 2002 through 2004, $4,500 for any taxable year beginning in 2005, $5,000 for any taxable year beginning in 2006 through 2007 and $6,000 for any taxable year beginning in 2008 and years thereafter. After 2008, the limits in paragraph (b)(i) and (ii) above will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code §219(b)(5)(C). Such adjustments will be in multiples of $500. (c) Regular Contribution Limit. If (i) and/or (ii) below apply, the maximum regular contribution that can be made to all the Owner's Xxxx IRAs for a taxable year is the smaller amount determined under (i) or (ii).
(i) The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income ("modified AGI," defined in (g) below) in accordance with the following table: Filing Status Full Contribution Phase-out Range Modified AGI No Contribution Single or Head of Household $95,000 or less Between $95,000 and $110,000 $110,000 or more Joint Return or Qualifying Widow(er) $150,000 or less Between $150,000 and $160,000 $160,000 or more
(ii) If the Owner makes regular contributions to both Xxxx and nonRoth IRAs for a taxable year, the maximum regular contribution that can be made to all the Owner's Xxxx IRAs for that taxable year is reduced by the regular contributions made to the Owner's nonRoth IRAs for the taxable year.
Applicable Amount. 6 beneficial ownership.............................................. 26 Board ..............................................................9
Applicable Amount. The applicable amount is determined below:
(i) If the Owner is under age 50, the applicable amount is $5,000. The $5,000 will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code §219(b)(5)(D). Such adjustments will be in multiples of $500.
(ii) If the Owner is 50 or older, the applicable amount is increased by $1,000.
Applicable Amount. The applicable amount is determined below:
Applicable Amount. To increase the interest and fees payable under the Agreement, Schedule 1.01(a), which is referred to in the definition of "Applicable Amount" in Section 1.01, is amended to read as set forth on Schedule 1.01(a) to this Second Amendment.
