Maximum Permissible Amount. Except in the case of a rollover contribution (as permitted by Code Sections 402(c), 402(e)(6), 403(a)(4), 403(b)(8), 403(b)(10), 408(d)(3), and 457(e)(16)) or a contribution made in accordance with the terms of a simplified employee pension (SEP) plan as described in Code Section 408(k), no contributions will be accepted unless they are in cash, and the total of such contributions shall not exceed the lesser of 100 percent of the Traditional IRA Owner’s Compensation, or $5,000 for any taxable year beginning in 2008 and years thereafter. After 2008, the limit will be adjusted by the Secretary of the Treasury for cost-of-living increases under Code Section 219(b)(5)(D). Such adjustments will be in multiples of $500. If the Traditional IRA Owner makes regular contributions to both Traditional and Xxxx IRAs for a taxable year, the maximum regular contribution that can be made to all the Traditional IRA Owner’s Traditional IRAs for that taxable year is reduced by the regular contributions made to the Traditional IRA Owner’s Xxxx IRAs for the taxable year.
Maximum Permissible Amount. Except in the case of a qualified rollover contribution (as defined in 4.01(G) of this Agreement, or a recharacterization (as defined in 4.01(F) of this Agreement, no contributions will be accepted unless they are in cash, and the total of such contributions shall not exceed the applicable amount (as defined in 4.01(B) of this Agreement), or the Xxxx XXX Owner’s Compensation (as defined in Section 2.05 of this Agreement), if less, for that taxable year. The contribution described in the previous sentence that may not exceed the lesser of the applicable amount of the Xxxx XXX Owner’s Compensation is referred to as a regular contribution. However, notwithstanding the preceding limits on contributions, a Xxxx XXX Owner may make additional contributions specifically authorized by statute – such as repayments of qualified reservist distributions, repayments of certain plan distributions made on account of a federally declared disaster and certain amounts received in connection with the Exxon Xxxxxx litigation. Contributions may be limited under Sections 4.01(C) through (E) of this Agreement.
Maximum Permissible Amount. The maximum Annual Additions that may be contributed or allocated to a Participant’s account under the Plan for any Limitation Year shall not exceed the lesser of:
(a) the Defined Contribution Dollar Limitation, or
(b) 25% of the Participant’s Compensation for the Limitation Year. The Compensation limitation referred to in (b) shall not apply to any contribution for medical benefits [within the meaning of Code Section 401(h) or Code Section 419A(f)(2)] which is otherwise treated as an Annual Addition under Code Sections 415(l)(1) or 419(d)(2). If a short Limitation Year is created because of an amendment changing the Limitation Year to a different twelve (12) consecutive month period, the Maximum Permissible Amount will not exceed the Defined Contribution Dollar Limitation multiplied by a fraction, the numerator of which is the number of months in the short Limitation Year and the denominator of which is twelve (12).
Maximum Permissible Amount. Except in the case of a qualified rollover contribution (as defined in paragraph (7) below) or a re-characterization (as defined in paragraph (6) below), no contribution will be accepted unless it is in cash and the total of such contributions to all the Depositor’s Xxxx IRAs for a taxable year does not exceed the applicable amount (as defined in paragraph (2) below), or the Depositor's compensation (as defined in paragraph (8) below), if less, for that taxable year. The contribution described in the previous sentence that may not exceed the lesser of the applicable amount or the Depositor’s compensation is referred to as a “regular contribution.” Despite the preceding limits on contributions, a Depositor may make additional contributions specifically authorized by statute–e.g., repayments of Qualified Reservist Distributions, repayments of certain plan distributions made on account of a federally declared disaster and certain amounts received in connection with the Exxon Xxxxxx litigation. Contributions may be limited under (3) through (5) below.
Maximum Permissible Amount. No contribution will be accepted unless it is in cash and the total of such contributions to all the Individual’s Xxxx IRAs for a Taxable Year does not exceed the applicable amount [as defined in 19.10(b)], or the Individual’s Compensation, if less, for that Taxable Year. The contribution described in the previous sentence that may not exceed the lesser of the applicable amount or the Individual’s Compensation is referred to as a “Regular Contribution.” A “Qualified Rollover Contribution” is a rollover contribution that meets the requirements of Code Section 408(d)(3), except the one-rollover-per-year rule of Code Section 408(d)(3)(B) does not apply if the rollover contribution is from an IRA other than a Xxxx XXX (a “non-Xxxx XXX”). Contributions may be limited as described in paragraph 19.10(b).
Maximum Permissible Amount. Except in the case of a qualified rollover contribution or a recharacterization (as defined in (f) below), no contribution will be accepted unless it is in cash and the total of such contributions to all the Owner's Xxxx IRAs for a taxable year does not exceed the applicable amount (as defined in (b) below), or the Owner's compensation (as defined in (h) below), if less, for that taxable year. The contribution described in the previous sentence that may not exceed the lesser of the applicable amount or the Owner's compensation is referred to as a "regular contribution." A "qualified rollover contribution" is a rollover contribution that meets the requirements of §408(d)(3) of the Internal Revenue Code, except the one-rollover-per-year rule of §408(d)(3)(B) does not apply if the rollover contribution is from an IRA other than a Xxxx XXX (a "nonRoth IRA"). Contributions may be limited under (c) through (e) below.
Maximum Permissible Amount. No contribution will be accepted unless it is in cash and the total of such contributions to all the Individual’s Xxxx IRAs for a Taxable Year does not exceed the applicable amount [as defined in 19.10(b)], or the Individual’s Compensation, if less, for that Taxable Year. The contribution described in the previous sentence that may not exceed the lesser of
Maximum Permissible Amount. For a Limitation Year, the "Maximum Permissible Amount" with respect to any Participant shall be the lesser of
Maximum Permissible Amount. The maximum Annual Additions that may be contributed or allocated to a Participant's account under the Plan for any Limitation Year shall not exceed the lesser of:
(a) the Defined Contribution Dollar Limitation, or
Maximum Permissible Amount. Except in the case of a -------------------------- qualified rollover contribution or a recharacterization (as defined in (e) below), no Purchase Payment will be accepted unless it is in cash and the total of such contributions to all the Owner's Xxxx IRAs for a taxable year does not exceed $2,000, or the Owner's compensation, if less, for that taxable year. The contribution described in the previous sentence that may not exceed the lesser of $2,000 or the Owner's compensation is referred to as a "regular contribution." A "qualified rollover contribution" is a rollover contribution that meets the requirements of section 408(d)(3) of the Code, except the one- rollover-per-year rule of section 408(d)(3)(B) does not apply if the rollover contribution is from an IRA other than a Xxxx XXX (a "nonRoth IRA"). Purchase Payments may be limited under (b) through (d) below.
