Common use of Maximum Xxxx XXX Contribution Clause in Contracts

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation or $6,000 for 2019 and 2020, with possible cost-of-living adjustments each year thereafter. If you also maintain a Traditional IRA (i.e., an IRA subject to the limits of IRC Secs. 408(a) or 408(b)), the maximum contribution to your Xxxx IRAs is reduced by any contributions you make to your Traditional IRAs. Your total annual contribution to all Xxxx IRAs and Traditional IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 (for 2019) or $196,000 (for 2020) if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 (for 2019) or $124,000 (for 2020) if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 (for 2019) or $206,000 (for 2020) may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 (for 2019) or $139,000 (for 2020) may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- of-living increases for tax years beginning after 2020. (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGI; (2) divide this total by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with MAGI of $201,000, your maximum Xxxx XXX contribution for 2020 is $3,000 ([$206,000 minus $201,000] divided by $10,000 and multiplied by $6,000). (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGI; (2) divide this total by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with MAGI of $127,000, your maximum Xxxx XXX contribution for 2020 is $4,800 ([$139,000 minus $127,000] divided by $15,000 and multiplied by $6,000).

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation or $6,000 5,500 for 2019 2014 and 20202015, with possible cost-of-living adjustments each year thereafter. If you also maintain a Traditional IRA (i.e., an IRA subject to the limits of IRC Secs. 408(a) or 408(b)), the maximum contribution to your Xxxx IRAs is reduced by any contributions you make to your Traditional IRAs. Your total annual contribution to all Xxxx IRAs and Traditional IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 181,000 (for 20192014) or $196,000 183,000 (for 20202015) if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 114,000 (for 20192014) or $124,000 116,000 (for 20202015) if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 191,000 (for 20192014) or $206,000 193,000 (for 20202015) may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 129,000 (for 20192014) or $139,000 131,000 (for 20202015) may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- cost-of-living increases for tax years beginning after 20202015. (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGI; (2) divide this total by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with MAGI of $201,000188,000, your maximum Xxxx XXX contribution for 2020 2015 is $3,000 2,750 ([$206,000 193,000 minus $201,000188,000] divided by $10,000 and multiplied by $6,0005,500). (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGI; (2) divide this total by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with MAGI of $127,000119,000, your maximum Xxxx XXX contribution for 2020 2015 is $4,800 4,400 ([$139,000 131,000 minus $127,000119,000] divided by $15,000 and multiplied by $6,0005,500).

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation or $6,000 5,500 for 2019 2017 and 20202018, with possible cost-of-living adjustments each year thereafter. If you also maintain a Traditional IRA (i.e., an IRA subject to the limits of IRC Secs. 408(a) or 408(b)), the maximum contribution to your Xxxx IRAs is reduced by any contributions you make to your Traditional IRAs. Your total annual contribution to all Xxxx IRAs and Traditional IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 186,000 (for 20192017) or $196,000 189,000 (for 20202018) if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 118,000 (for 20192017) or $124,000 120,000 (for 20202018) if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 196,000 (for 20192017) or $206,000 199,000 (for 20202018) may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 133,000 (for 20192017) or $139,000 135,000 (for 20202018) may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- cost-of-living increases for tax years beginning after 20202018. (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGI; (2) divide this total by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with MAGI of $201,000191,000, your maximum Xxxx XXX contribution for 2020 2017 is $3,000 2,750 ([$206,000 196,000 minus $201,000191,000] divided by $10,000 and multiplied by $6,0005,500). (1) Begin with the appropriate MAGI phase-phase- out maximum for the applicable year and subtract your MAGI; (2) divide this total by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with MAGI of $127,000121,000, your maximum Xxxx XXX contribution for 2020 2017 is $4,800 4,400 ([$139,000 133,000 minus $127,000121,000] divided by $15,000 and multiplied by $6,0005,500).

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation compensation or $6,000 3,000 for 2019 years 2002-2004, $4,000 for years 2005-2007, and 2020$5,000 for 2008, with possible cost-of-living adjustments each year in years 2009 and thereafter. If you also maintain a Traditional IRA (i.e., an IRA subject to the limits of IRC Secs. 408(a) or 408(b))IRA, the maximum contribution to your Xxxx IRAs XXX is reduced by any contributions you make to your Traditional IRAsIRA. Your total annual contribution to all Xxxx Traditional IRAs and Traditional Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensationcompensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 (for 2019) or $196,000 (for 2020) 150,000 if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 (for 2019) or $124,000 (for 2020) 95,000 if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 (for 2019) or $206,000 (for 2020) 160,000 may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 (for 2019) or $139,000 (for 2020) 110,000 may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- of-living increases for tax years beginning after 20202006. (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGIMAGI from it; (2) divide this total the result by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with and your MAGI of is $201,000155,000, your maximum Xxxx XXX contribution for 2020 2002 is $3,000 1,500. This amount is determined as follows: [([$206,000 160,000 minus $201,000] 155,000) divided by $10,000 and 10,000] multiplied by $6,000)3,000. (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGIMAGI from it; (2) divide this total the result by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with and your MAGI of is $127,00098,000, your maximum Xxxx XXX contribution for 2020 2002 is $4,800 2,400. This amount is determined as follows: [([$139,000 110,000 minus $127,000] 98,000) divided by $15,000 and 15,000] multiplied by $6,000)3,000.

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation compensation or $6,000 3,000 for 2019 years 2002-2004, $4,000 for years 2005-2007, and 2020$5,000 for 2008, with possible cost-of-living adjustments each year in years 2009 and thereafter. If you also maintain a Traditional IRA (i.e., an IRA subject to the limits of IRC Secs. 408(a) or 408(b))XXX, the maximum contribution to your Xxxx IRAs XXX is reduced by any contributions you make to your Traditional IRAsXXX. Your total annual contribution to all Xxxx Traditional IRAs and Traditional Xxxx IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensationcompensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 (for 2019) or $196,000 (for 2020) 150,000 if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 (for 2019) or $124,000 (for 2020) 95,000 if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 (for 2019) or $206,000 (for 2020) 160,000 may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 (for 2019) or $139,000 (for 2020) 110,000 may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- of-living increases for tax years beginning after 20202006. (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGIMAGI from it; (2) divide this total the result by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with and your MAGI of is $201,000155,000, your maximum Xxxx XXX contribution for 2020 2002 is $3,000 1,500. This amount is determined as follows: [([$206,000 160,000 minus $201,000] 155,000) divided by $10,000 and 10,000] multiplied by $6,000)3,000. (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGIMAGI from it; (2) divide this total the result by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with and your MAGI of is $127,00098,000, your maximum Xxxx XXX contribution for 2020 2002 is $4,800 2,400. This amount is determined as follows: [([$139,000 110,000 minus $127,000] 98,000) divided by $15,000 and 15,000] multiplied by $6,000)3,000.

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation or $6,000 for 2019 and 2020, with possible cost-of-living adjustments each year thereafter. If you also maintain a Traditional IRA XXX (i.e., an IRA XXX subject to the limits of IRC Secs. 408(a) or 408(b)), the maximum contribution to your Xxxx IRAs is reduced by any contributions you make to your Traditional IRAs. Your total annual contribution to all Xxxx IRAs and Traditional IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 (for 2019) or $196,000 (for 2020) if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 (for 2019) or $124,000 (for 2020) if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 (for 2019) or $206,000 (for 2020) may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 (for 2019) or $139,000 (for 2020) may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- of-living increases for tax years beginning after 2020. (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGI; (2) divide this total by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with MAGI of $201,000, your maximum Xxxx XXX contribution for 2020 is $3,000 ([$206,000 minus $201,000] divided by $10,000 and multiplied by $6,000). (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGI; (2) divide this total by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with MAGI of $127,000, your maximum Xxxx XXX contribution for 2020 is $4,800 ([$139,000 minus $127,000] divided by $15,000 and multiplied by $6,000).

Maximum Xxxx XXX Contribution. The total amount you may contribute to a Xxxx XXX for any taxable year cannot exceed the lesser of 100 percent of your Compensation or $6,000 5,500 for 2019 2015 and 20202016, with possible cost-of-living adjustments each year thereafter. If you also maintain a Traditional IRA (i.e., an IRA subject to the limits of IRC Secs. 408(a) or 408(b)), the maximum contribution to your Xxxx IRAs is reduced by any contributions you make to your Traditional IRAs. Your total annual contribution to all Xxxx IRAs and Traditional IRAs cannot exceed the lesser of the dollar amounts described above or 100 percent of your Compensation. Your Xxxx XXX contribution is further limited if your modified adjusted gross income (MAGI) equals or exceeds $193,000 183,000 (for 20192015) or $196,000 184,000 (for 20202016) if you are a married individual filing a joint income tax return, or equals or exceeds $122,000 116,000 (for 20192015) or $124,000 117,000 (for 20202016) if you are a single individual. Married individuals filing a joint income tax return with MAGI equaling or exceeding $203,000 193,000 (for 20192015) or $206,000 194,000 (for 20202016) may not fund a Xxxx XXX. Single individuals with MAGI equaling or exceeding $137,000 131,000 (for 20192015) or $139,000 132,000 (for 20202016) may not fund a Xxxx XXX. Married individuals filing a separate income tax return with MAGI equaling or exceeding $10,000 may not fund a Xxxx XXX. The MAGI limits described above are subject to cost- cost-of-living increases for tax years beginning after 20202016. (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGI; (2) divide this total by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with MAGI of $201,000189,000, your maximum Xxxx XXX contribution for 2020 2016 is $3,000 2,750 ([$206,000 194,000 minus $201,000189,000] divided by $10,000 and multiplied by $6,0005,500). (1) Begin with the appropriate MAGI phase-out maximum for the applicable year and subtract your MAGI; (2) divide this total by the difference between the phase-out range maximum and minimum; and (3) multiply this number by the maximum allowable contribution for the applicable year, including catch-up contributions if you are age 50 or older. For example, if you are age 30 with MAGI of $127,000120,000, your maximum Xxxx XXX contribution for 2020 2016 is $4,800 4,400 ([$139,000 132,000 minus $127,000120,000] divided by $15,000 and multiplied by $6,0005,500).