Contributions to A Xxxx XXX Sample Clauses

Contributions to A Xxxx XXX. Regular Xxxx Contributions. The maximum amount you may contribute for any year is the lesser of 100% of your compensation or $2,000. Your actual contribution limit depends upon your marital status, tax filing status, and your Modified AGI. All regular contributions to a Xxxx XXX are nondeductible. The maximum amount you may contribute to a Xxxx XXX is reduced by any contributions you make to all of your traditional IRAs for the same tax year. In other words, the total maximum combined annual contribution to a traditional IRA and a Xxxx XXX is $2,000. Unmarried Taxpayer (or a Married Person filing a separate return who did not live with their spouse at any time during the year). If you are unmarried and your Modified AGI is $95,000 or less, you may contribute up to the maximum amount of $2,000 to your Xxxx XXX. If your Modified AGI is $110,000 or more, no contribution is permitted. If your Modified AGI is over $95,000 but less than $110,000, then a calculation must be made to determine your Xxxx XXX contribution limit for the year. The calculation reduces your otherwise allowable contribution limit of $2,000 by .13 for every $1 of Modified AGI between $95,000 and $110,000. Married Person Filing Joint Tax Return. If you file a joint tax return with your spouse and your combined Modified AGI is $150,000 or less, you may contribute up to the maximum amount of $2,000 to your Xxxx XXX. If your combined Modified AGI is $160,000 or more, no contribution is permitted. If your Modified AGI is over $150,000 but less than $160,000, then a calculation similar to the one described above must be made. The calculation reduces each spouse's otherwise allowable Xxxx XXX contribution limit of $2,000 by .20 for every $1 of Modified AGI between $150,000 and $160,000. Married Persons Filing Separate Returns (who lived together at any time during the year). If you have a separate Modified AGI of more than $10,000, no contribution is permitted to your Xxxx XXX. If your or your Spouse's separate Modified AGI is more than $0 but less than $10,000, then the Xxxx XXX contribution limit of $2,000 is reduced by .20 for every $1 of Modified AGI between $0 and $10,000. Spousal Xxxx IRAs. If you and your spouse file a joint tax return and have unequal compensation (including no compensation for one spouse) you may establish separate Xxxx IRAs for each spouse. The total annual contribution limit for both Xxxx IRAs may not exceed the lesser of 100% of the combined compensation for both spou...
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Related to Contributions to A Xxxx XXX

  • ALLOCATION OF CONTRIBUTIONS If the application is in good order, the initial Contribution will be applied within two Business Days of receipt at the Retirement Resource Operations Center. During the right to cancel period, all Contributions will be allocated in one or more of the Sub-Account(s) as specified in the application. During the right to cancel period, the Owner may change the allocations to the Sub-Accounts. Subsequent Contributions will be allocated to the Annuity Account in the proportion Requested by the Owner. If there are no accompanying instructions, then allocations will be made in accordance with standing instructions. Allocations will be effective upon the Transaction Date.

  • Contributions to Capital (a) The minimum initial contribution of each Member to the capital of the Company shall be $75,000, subject to the discretion of the Manager to accept initial investments in lesser amounts. The amount of the initial contribution of each Member shall be recorded on the books and records of the Company upon acceptance as a contribution to the capital of the Company. The Directors shall not be entitled to make voluntary contributions of capital to the Company as Directors of the Company, but may make voluntary contributions to the capital of the Company as Members.

  • Return of Contributions The General Partner shall not be personally liable for, and shall have no obligation to contribute or loan any monies or property to the Partnership to enable it to effectuate, the return of the Capital Contributions of the Limited Partners or Unitholders, or any portion thereof, it being expressly understood that any such return shall be made solely from Partnership assets.

  • Compensation of Xxxxx Xxxxx For the services, payments and facilities to be furnished hereunder by Xxxxx Xxxxx, Xxxxx Xxxxx shall be entitled to receive from the Trust the compensation described on Appendix A hereto.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Qualified Nonelective Contributions If the Employer, at the time of contribution, designates a contribution to be a qualified nonelective contribution for the Plan Year, the Advisory Committee will allocate that qualified nonelective contribution to the Qualified Nonelective Contributions Account of each Participant eligible for an allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Advisory Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Advisory Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.

  • Catch-Up Contributions Unless otherwise elected in Section 2.4 of this amendment, all employees who are eligible to make elective deferrals under this plan and who have attained age 50 before the close of the plan year shall be eligible to make catch-up contributions in accordance with, and subject to the limitations of, Section 414(v) of the Code. Such catch-up contributions shall not be taken into account for purposes of the provisions of the plan implementing the required limitations of Sections 402(g) and 415 of the Code. The plan shall not be treated as failing to satisfy the provisions of the plan implementing the requirements of Section 401(k)(3), 401(k)(11), 401(k)(12), 410(b), or 416 of the Code, as applicable, by reason of the making of such catch-up contributions.

  • Limitations Pertaining to Capital Contributions 5.2.1: Except as otherwise specifically provided in this Agreement, or as otherwise provided by law, no Member shall have the right to withdraw from the Company or to demand or receive a return of his capital without the consent of the Manager. Upon return of any Capital Contributions, no Member shall have the right to receive property other than cash except as may be specifically provided herein.

  • Payments and Contributions Neither the Company, any subsidiary, nor any of its directors, officers or, to its knowledge, other employees has (i) used any Company funds for any unlawful contribution, endorsement, gift, entertainment or other unlawful expense relating to political activity; (ii) made any direct or indirect unlawful payment of Company funds to any foreign or domestic government official or employee; (iii) violated or is in violation of any provision of the Foreign Corrupt Practices Act of 1977, as amended; or (iv) made any bribe, rebate, payoff, influence payment, kickback or other similar payment to any person with respect to Company matters.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

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