Qualified Rollover Contributions Sample Clauses

Qualified Rollover Contributions. For distributions made from this Plan after December 31, 2007, the following provisions shall apply: Participants must be given the option to directly rollover to a Xxxx XXX as a qualified rollover contribution pursuant to section 408A(e) of the Code. Pursuant to section 402(c)(11) of the Code, for distributions that occur prior to January 1, 2010, a plan may, but is not required to permit Qualified Rollover Contributions by nonspouse Beneficiaries and a rollover by a nonspouse Beneficiary must be made in a Direct Rollover to a Xxxx XXX. A surviving spouse Xxxxxxxxxxx who makes a rollover to a Xxxx XXX from this Plan may elect either to treat the Xxxx XXX as his or her own or establish the Xxxx XXX in the name of the decedent with the surviving spouse as the Beneficiary.
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Qualified Rollover Contributions. If current eligibility requirements as defined by the Code and Regulations are met, spouse, nonspouse, or qualified trust beneficiary may make a qualified rollover contribution to a Xxxx XXX from an eligible retirement plan other than a Xxxx XXX. A qualified rollover contribution must be sent in a direct rollover from the distributing plan to the Inherited Xxxx XXX. The beneficiary may not have constructive receipt of the assets. For assistance in determining qualified rollover contribution eligibility and the tax consequences of such a transaction, consult a tax advisor. Distributions to Inherited Xxxx XXX Owners. Beneficiary payouts from Inherited Xxxx IRAs must continue as required by the Code and Regulations. See, “BENEFICIARY DISTRIBUTIONS – DEATH OF IRA OWNER BEFORE JANUARY 1, 2020” and “BENEFICIARY DISTRIBUTIONS – DEATH OF IRA OWNER ON OR AFTER JANUARY 1, 2020” in this document for more information. MISCELLANEOUS
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Qualified Rollover Contributions. Participants must be given the option to directly rollover to a Xxxx XXX as a qualified rollover contribution pursuant to section 408A(e) of the Code. Pursuant to section 402(c)(11) of the Code, for distributions that occur prior to January 1, 2010, a plan may, but is not required to permit Qualified Rollover Contributions by nonspouse beneficiaries, and a rollover by a nonspouse beneficiary must be made in a Direct Rollover to a Xxxx XXX. A surviving spouse beneficiary who makes a rollover to a Xxxx XXX from this plan may elect either to treat the Xxxx XXX as his or her own or establish the Xxxx XXX in the name of the decedent with the surviving spouse as the beneficiary.
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Qualified Rollover Contributions. If current eligibility requirements as defined by the Code and Regulations are met, a nonspouse beneficiary may make a qualified rollover contribution to a Xxxx XXX from an eligible retirement plan other than a Xxxx XXX. A qualified rollover contribution must be sent in a direct trustee-to-trustee transaction from the distributing plan to the Inherited Xxxx XXX. The nonspouse beneficiary may not have constructive receipt of the assets. For assistance in determining qualified rollover contribution eligibility and the tax consequences of such a transaction, consult a tax advisor.
Sample 1
Qualified Rollover Contributions. In addition to contributions under Article 2, the Individual may contribute to the Roth IRA Account a qualified rollover contribution within the xxxxxxx of Code Section 408A(e) that is a rollover from another Roth IRA. The Individual also may contribute to the Roth IRA Xxxxxxx a qualified rollover contribution that is a xxxxxxxx from an IRA, but only if the Individual's adjusted gross income for txx taxable year does not exceed $100,000 and the Individual is not a married individual filing a separate federal income tax return. A qualified rollover contribution is defined in part as a rollover from another Roth IRA, or from an IRA, if the rollover meets the requiremexxx xx Xode Section 400(d)(3). A qualified rollover contribution may be in cash or property or both, provided that the Trustee shall not accept as a rollover amount any property other than cash unless it consists of (i) "marketable securities" which in the opinion of the Trustee may be sold by it in accordance with all applicable federal securities and other laws or which the Trustee otherwise agrees to accept and retain; or (ii) an annuity contract (other than an annuity contract including a life insurance element) or endowment contract which in the opinion of the Trustee may be promptly surrendered by it to the issuer for cash. A rollover may not include certain amounts, such as the amount of any required minimum distributions. The Trustee also will accept (i) qualified rollover contributions that are transferred to it directly from another trustee or custodian, (ii) the conversion of an IRA to a Roth IRA in accordance with Code Section 408A(d)(3)(X), and (xxx) xxx transfer, no later than the Individual's due date for filing his or her federal income tax return for a taxable year (without regard to extensions), from a traditional IRA to a Roth IRA of contributions for that year (and earningx xllocabxx xx xxch contributions) in accordance with Code Section 408A(d)(3)(D), each upon receipt of documentation satisfactory to the Trustee. Any contribution by the Individual under this Article 3 shall be accompanied by a written declaration from the Individual that it is a valid rollover amount.
Sample 1

Related to Qualified Rollover Contributions

  • Rollover Contributions A rollover is a tax-free distribution of cash or other assets from one retirement program to another. There are two kinds of rollover contributions to an IRA. Xx one, you contribute amounts distributed to you from one IRA xx another IRA. Xxth the other, you contribute amounts distributed to you from your employer's qualified plan or 403(b) plan to an IRA. X rollover is an allowable IRA xxxtribution which is not subject to the limits on regular contributions discussed in Part D above. However, you may not deduct a rollover contribution to your IRA xx your tax return. If you receive a distribution from the qualified plan of your employer or former employer, the distribution must be an "eligible rollover distribution" in order for you to be able to roll all or part of the distribution over to your IRA. Xxe portion you contribute to your IRA xxxl not be taxable to you until you withdraw it from the IRA. Xxur employer or former employer will give you the opportunity to roll over the distribution directly from the plan to the IRA. Xx you elect, instead, to receive the distribution, you must deposit it into the IRA xxxhin 60 days after you receive it. An "eligible rollover distribution" is any distribution from a qualified plan that would be taxable other than (1) a distribution that is one of a series of periodic payments for an employee's life or over a period of 10 years or more, (2) a required distribution after you attain age 70 1/2 and (3) certain corrective distributions. If the entire amount in your IRA xxx been contributed in a tax-free rollover from your employer's or former employer's qualified plan or 403(b) plan, you may later roll over the IRA xx a new employer's plan if such plan permits rollovers. Your IRA xxxld then serve as a conduit for those assets. However, you may later roll those IRA xxxds into a new employer's plan only if you make no further contributions to that IRA, xx commingle the IRA xxxlover funds with existing IRA xxxets.

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • Employer Contributions 8.1 Rates at which the Employer shall contribute for each hour of work performed on behalf of each employee employed under the terms of this Agreement are contained in the Appendices attached to and forming part of this Agreement.

  • Qualified Nonelective Contributions If the Employer, at the time of contribution, designates a contribution to be a qualified nonelective contribution for the Plan Year, the Advisory Committee will allocate that qualified nonelective contribution to the Qualified Nonelective Contributions Account of each Participant eligible for an allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Advisory Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Advisory Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.

  • Catch-Up Contributions In the case of a Traditional IRA Owner who is age 50 or older by the close of the taxable year, the annual cash contribution limit is increased by $1,000 for any taxable year beginning in 2006 and years thereafter.

  • Matching Contributions The Employer will make matching contributions in accordance with the formula(s) elected in Part II of this Adoption Agreement Section 3.01.

  • EMPLOYEE CONTRIBUTIONS (a) Each participant shall be allowed to contribute on a bi-weekly basis up to an amount equal to eighty percent (80%) of the Participant’s wage. Such bi-weekly wage deductions shall be in increments of one percent (1%) and shall be contributed to the Participant’s account. The participant may contribute on a pre-tax, after-tax, Xxxx basis or any combination.

  • ALLOCATION OF CONTRIBUTIONS You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

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