Common use of Contribution Limits Clause in Contracts

Contribution Limits. Your employer will determine the amount to be contributed to your IRA each year. However, the amount for any year is limited to the smaller of $30,000* or 15% of your compensation (currently limited to $160,000) for that year. Compensation does not include any amount that is contributed by your employer to your IRA under the SEP. Your employer is not required to make contributions every year or to maintain a particular level of contributions. Tax Treatment of Contributions.--Employer contributions to your SEP-IRA are excluded from your income unless there are contributions in excess of the applicable limit. Employer contributions within these limits will not be included on your Form W-2. Employee Contributions.--You may contribute the smaller of $2,000 or 100% of your compensation to an IRA. However, the amount you can deduct may be reduced or eliminated because, as a participant in a SEP, you are covered by an employer retirement plan.

Contribution Limits. Your employer will determine the amount to be contributed to your IRA each year. However, the txx amount for any year is limited to the smaller of $30,000* or 15% of your compensation (currently limited to $160,000) for that year. Compensation does not include any amount that is contributed by your employer to your IRA under the SEP. Your employer exxxoyer is not required to make contributions every year or to maintain a particular level of contributions. Tax Treatment of Contributions.--Employer contributions to your SEP-IRA are excluded from your xxur income unless there are contributions in excess of the applicable limit. Employer contributions within these limits will not be included on your Form W-2. Employee Contributions.--You may contribute the smaller of $2,000 or 100% of your compensation to an IRA. However, the amount you xxx can deduct may be reduced or eliminated because, as a participant in a SEP, you are covered by an employer retirement plan.

Contribution Limits. Your employer will determine the amount to be contributed to your IRA each year. However, the amount for amounx xor any year is limited to the smaller of $30,000* or 15% of your compensation (currently limited to $160,000) for that year. Compensation does not include any amount that is contributed by your employer to your IRA under the SEP. Your employer employxx is not required to make contributions every year or to maintain a particular level of contributions. Tax Treatment of Contributions.--Employer contributions to your SEP-IRA are excluded from your income incoxx unless there are contributions in excess of the applicable limit. Employer contributions within these limits will not be included on your Form W-2. Employee Contributions.--You may contribute the smaller of $2,000 or 100% of your compensation to an IRA. However, the amount you can deduct xxxuct may be reduced or eliminated because, as a participant in a SEP, you are covered by an employer retirement plan.