Common use of Employee Selection of Financial Institution Clause in Contracts

Employee Selection of Financial Institution. ____________________________________________ Name of financial institution ____________________________________________ Address of financial institution ____________________________________________ SIMPLE IRA account name and number I understand that I must establish a SIMPLE IRA to receive any contributions made on my behalf under this SIMPLE plan. If the information regarding my SIMPLE IRA is incomplete when I first submit my salary reduction agreement, I realize that it must be completed by the date contributions must be made under the SIMPLE plan. If I fail to update my agreement to provide this information by that date, I understand that my employer may select a financial institution of my SIMPLE IRA.

Employee Selection of Financial Institution. _________________________________________________________ Name of financial institution _________________________________________________________ Address of financial institution _________________________________________________________ SIMPLE IRA account name and number I understand that I must establish a SIMPLE IRA to receive any contributions made on my behalf under this SIMPLE plan. If the information regarding my SIMPLE IRA is incomplete when I first submit my salary reduction agreement, I realize that it must be completed by the date contributions must be made under the SIMPLE plan. If I fail to update my agreement to provide this information by that date, I understand that my employer may select a financial institution of for my SIMPLE IRA.