Common use of Multiple IRAs Clause in Contracts

Multiple IRAs. If you have more than one Traditional IRA, the contribution limits listed below apply to the total amount you may contribute to all of your IRAs for the year. If you also have a Xxxx XXX, the contribution limits listed below are reduced by any amounts you contribute to your Xxxx XXX for the tax year. In addition, employer retirement plans may establish separate accounts to receive voluntary employee contributions. If the account meets the requirements of an IRA and you make voluntary employee contributions to that separate account, the total amount listed below that you may contribute to all of your IRAs is reduced by those voluntary employee contributions. Regular IRA Contributions. You may annually contribute up to the lesser of 100% of your compensation or $5,500 (for tax year 2013 and 2014). The regular IRA contribution amounts are increased annually to reflect a cost-of-living adjustment, if any. Catch-up Contributions. If you are age 50 or older before the end of the tax year, you may make an additional catch-up contribution to your IRA for that tax year of up to $1,000. Spousal IRA Contributions. If you are married, file a joint tax return and your compensation is less than your spouse's (including zero), you and your spouse may each fund an IRA according to the limits for funding “Regular IRA Contributions” above. However, the total contributions to both of your IRAs may not exceed the combined compensation of you and your spouse.

Multiple IRAs. If you have more than one Traditional IRAXXX, the contribution limits listed below apply to the total amount you may contribute to all of your IRAs for the year. If you also have a Xxxx XXX, the contribution limits listed below are reduced by any amounts you contribute to your Xxxx XXX for the tax year. In addition, employer retirement plans may establish separate accounts to receive voluntary employee contributions. If the account meets the requirements of an IRA XXX and you make voluntary employee contributions to that separate account, the total amount listed below that you may contribute to all of your IRAs is reduced by those voluntary employee contributions. Regular IRA XXX Contributions. You may annually contribute up to the lesser of 100% of your compensation or $5,500 (for tax year 2013 and 2014). The regular IRA contribution amounts are increased annually to reflect a cost-of-living adjustment, if anythe maximum amount listed below. Catch-up Contributions. If you are age 50 or older before the end of the tax year, you may make an additional catch-up contribution to your IRA XXX for that tax year of up to $1,000. Spousal IRA XXX Contributions. If you are married, file a joint tax return and your compensation is less than your spouse's (including zero), you and your spouse may each fund an IRA XXX according to the limits for funding “Regular IRA XXX Contributions” above. However, the total contributions to both of your IRAs may not exceed the combined compensation of you and your spouse.

Multiple IRAs. If you have more than one Traditional IRA, the contribution limits listed below apply to the total amount you may contribute to all of your IRAs for the year. If you also have a Xxxx XXX, the contribution limits listed below are reduced by any amounts you contribute to your Xxxx XXX for the tax year. In addition, employer retirement plans may establish separate accounts to receive voluntary employee contributions. If the account meets the requirements of an IRA and you make voluntary employee contributions to that separate account, the total amount listed below that you may contribute to all of your IRAs is reduced by those voluntary employee contributions. Regular IRA Contributions. You may annually contribute up to the lesser of 100% of your compensation or $5,500 (for tax year 2013 and 2014). The regular IRA contribution amounts are increased annually to reflect a cost-of-living adjustment, if anythe maximum amount listed below. Catch-up Contributions. If you are age 50 or older before the end of the tax year, you may make an additional catch-up contribution to your IRA for that tax year of up to $1,000. Spousal IRA Contributions. If you are married, file a joint tax return and your compensation is less than your spouse's (including zero), you and your spouse may each fund an IRA according to the limits for funding “Regular IRA Contributions” above. However, the total contributions to both of your IRAs may not exceed the combined compensation of you and your spouse.

Multiple IRAs. If you have more than one Traditional IRA, the contribution limits listed below apply to the total amount you may contribute to all of your IRAs for the year. If you also have a Xxxx XXX, the contribution limits listed below are reduced by any amounts you contribute to your Xxxx XXX for the tax year. In addition, employer retirement plans may establish separate accounts to receive voluntary employee contributions. If the account meets the requirements of an IRA and you make voluntary employee contributions to that separate account, the total amount listed below that you may contribute to all of your IRAs is reduced by those voluntary employee contributions. Regular IRA Contributions. You may annually contribute up to the lesser of 100% of your compensation or $5,500 (for tax year 2013 and 2014). The regular IRA contribution amounts are increased annually to reflect a cost-of-living adjustment, if any. Catch-up Contributions. If you are age 50 or older before the end of the tax year, you may make an additional catch-up contribution to your IRA for that tax year of up to $1,000. Spousal IRA Contributions. If you are married, file a joint tax return and your compensation is less than your spouse's (including zero), you and your spouse may each fund an IRA according to the limits for funding “Regular IRA Contributions” above. However, the total contributions to both of your IRAs may not exceed the combined compensation of you and your spouse.