Common use of DETERMINATION OF DEPOSIT Clause in Contracts

DETERMINATION OF DEPOSIT. When making a contribution to the Plan, the Employer shall calculate each Participant's proportionate share of the Employer's contribution as determined in the Adoption Agreement. The Employer shall then deliver the contribution to the Sponsor indicating the amount to be credited to each Participant's SEP-IRA. 5.3 CONTROL OF ACCOUNT All contributions made under the Plan by the Employer shall be irrevocable. After allocation to a Participant's SEP-IRA, xxe Employer shall have no further control of such contribution and the terms of the Participant's IRA xxxll be fully effective. 5.4

Appears in 5 contracts

Samples: Savings Agreement (Aim International Funds Inc), Savings Agreement (Aim Advisor Funds Inc), Savings Agreement (Aim Equity Funds Inc)

AutoNDA by SimpleDocs

DETERMINATION OF DEPOSIT. When making a contribution to the Plan, the Employer shall calculate each Participant's proportionate share of the Employer's contribution as determined in the Adoption Agreement. The Employer shall then deliver the contribution to the Sponsor indicating the amount to be credited to each Participant's SEP-IRA. 5.3 CONTROL OF ACCOUNT All contributions made under the Plan Plxx by the Employer shall be irrevocable. After allocation to a Participant's SEP-IRA, xxe the Employer shall have no further control of such contribution and contributiox xnd the terms of the Participant's IRA xxxll shall be fully effective. 5.4

Appears in 1 contract

Samples: Savings Agreement (Aim Growth Series)

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.