Qualified Annuity Contract Sample Clauses
A Qualified Annuity Contract clause defines an annuity that meets specific requirements set by tax laws, allowing it to be used within tax-advantaged retirement plans such as IRAs or 401(k)s. This clause typically outlines the criteria the annuity must satisfy, such as being issued by an approved insurance company and adhering to contribution and distribution rules mandated by the IRS. Its core function is to ensure that the annuity contract maintains its tax-qualified status, thereby enabling the policyholder to benefit from tax deferral on earnings and compliance with retirement plan regulations.
Qualified Annuity Contract. An annuity contract that is intended to qualify under Section 408(b) (IRAs) or Section 408A (▇▇▇▇ IRAs) of the Code. This Contract may be issued as a Qualified Annuity Contract.
Qualified Annuity Contract. District shall continue its contribution to a Qualified Annuity Contribution as set forth in Section 3 of the Second Addendum to President’s Employment Agreement.
Qualified Annuity Contract. Section C.4 of the Employment Agreement related to Qualified Annuity Contribution is deleted and replaced with the following: