Maximum Annual Contribution. With respect to Traditional IRA Contributions made by or on behalf of an Individual for a taxable year, Maximum Annual Contribution shall mean an amount that does not exceed the lesser of the deductible amount described in Code Section 219(b)(5)(A) reduced by the amount of any contributions made by or on behalf of the Individual to another Traditional IRA or to a Xxxx XXX for the same Taxable Year.
Appears in 5 contracts
Samples: Prototype Defined Contribution Plan (Wellesley Bancorp, Inc.), Prototype Defined Contribution Plan (Fraternity Community Bancorp Inc), Prototype Defined Contribution Plan (Old Dominion Freight Line Inc/Va)
Maximum Annual Contribution. With respect to Traditional IRA Contributions made by or on behalf of an Individual for a taxable year, Maximum Annual Contribution shall mean an amount that does not exceed the lesser of the deductible amount described in Code Section 219(b)(5)(A) reduced by the amount of any contributions made by or on behalf of the Individual to another Traditional IRA or to a Xxxx XXX for the same Taxable Yeartaxable year.
Appears in 1 contract
Samples: Prototype Defined Contribution Plan (1st Constitution Bancorp)
Maximum Annual Contribution. With respect to Traditional IRA Contributions made by or on behalf of an Individual for a taxable year, Maximum Annual Contribution shall mean an amount that does not exceed the lesser of the deductible amount described in Code Section 219(b)(5)(A) reduced by the amount of any contributions made by or on behalf of the Individual to another Traditional IRA or to a Xxxx Rxxx XXX for the same Taxable Year.
Appears in 1 contract
Samples: Prototype Defined Contribution Plan (Savannah Bancorp Inc)
