PURPOSE OF THE AGREEMENT. The purpose of this Agreement is to establish a Traditional IRA under Code Section 408(a) or a Xxxx XXX under Code Section 408A, as indicated on the Adoption Agreement, to provide for the IRA Owner’s retirement and for the support of his or her Beneficiary(ies) after death. The account is established for the exclusive benefit of the IRA Owner or his or her Beneficiary(ies). If this is an inherited IRA within the meaning of Code Section 408(d)(3)(C) maintained for the benefit of a Designated Beneficiary of a deceased individual, references in this document to the “IRA Owner” are to the deceased individual.
Appears in 62 contracts
Samples: Ira Prototype Plan Agreement, Ira Prototype Plan Agreement, Ira Prototype Plan Agreement
