Common use of Regular Contribution Limit Clause in Contracts

Regular Contribution Limit. If (i) and/or (ii) below apply, the -------------------------- maximum regular contribution that can be made to all the Owner's Xxxx IRAs for a taxable year is the smaller amount determined under (i) or (ii). (i) The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income ("modified AGI," defined in (f) below) in accordance with the following table: Filing Status Full Contribution Phase-out Range No Contribution -------------------------------------------------------------------------------------------- Modified AGI -------------------- -------------------------- -------------------------- ----------------- Single or Head $ 95,000 or less Between $95,000 $110,000 or of Household and $110,000 more Joint Return or $ 150,000 or less Between $150,000 $160,000 or Qualifying and $160,000 more Widow(er) Married- $ 0 Between $0 $10,000 or Separate Return and $10,000 more -------------------- -------------------------- -------------------------- ----------------- If the Owner's modified AGI for a taxable year is in the phase- out range, the maximum regular contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. ML-446 (07/01) -------------------------------------------------------------------------------- (ii) If the Owner makes regular contributions to both Xxxx and non- Xxxx IRAs for a taxable year, the maximum regular contribution that can be made to all the Xxxx IRAs for that taxable year is reduced by the regular contributions made to the non-Xxxx IRAs for the taxable year.

Regular Contribution Limit. If (i) and/or (ii) below -------------------------- apply, the -------------------------- maximum regular contribution that can be made to all the Owner's Xxxx IRAs for a taxable year is the smaller amount determined under (i) or (ii). (i) The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income ("modified AGI," defined in (f) below) in accordance with the following table: Filing Status Full Contribution Phase-out Range No Contribution -------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------- Modified AGI -------------------- -------------------------- -------------------------- ----------------- ------------- --------------------------------------------------------------------------------------------------- Single or Head $ $95,000 or less Between $95,000 $110,000 or of Household and $110,000 more --------------------------------------------------------------------------------------------------- Joint Return or $ $150,000 or less Between $150,000 $160,000 or or Qualifying and $160,000 more Widow(er) --------------------------------------------------------------------------------------------------- Married- $ $0 Between $0 $10,000 or Separate Return and $10,000 more -------------------- -------------------------- -------------------------- ----------------- --------------------------------------------------------------------------------------------------- If the Owner's modified AGI for a taxable year is in the phase- phase-out range, the maximum regular contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. ML-446 (07/01) --------------------------------------------------------------------------------. (ii) If the Owner makes regular contributions to both Xxxx and non- Xxxx nonRoth IRAs for a taxable year, the maximum regular contribution that can be made to all the Xxxx IRAs for that taxable year is reduced by the regular contributions made to the non-Xxxx nonRoth IRAs for the taxable year.

Regular Contribution Limit. If (i) and/or (ii) below apply, the -------------------------- --------------------------- maximum regular contribution that can be made to all the Owner's Xxxx IRAs for a taxable year is the smaller amount determined under (i) or (ii). (i) The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income ("modified AGI," defined in (f) below) in accordance with the following table: Filing Status Full Contribution Phase-out Range No Contribution -------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------- Modified AGI -------------------- -------------------------- -------------------------- ----------------- ----------------------------------------------------------------------------------------------------------------- Single or Head $ $95,000 or less Between $95,000 $110,000 or of Household and $110,000 more Joint Return or $ $150,000 or less Between $150,000 $160,000 or Qualifying Widow(er) and $160,000 more Widow(er) Married- $ $0 Between $0 $10,000 or Separate Return and $10,000 more -------------------- -------------------------- -------------------------- ----------------- ----------------------------------------------------------------------------------------------------------------- If the Owner's modified AGI for a taxable year is in the phase- phase-out range, the maximum regular contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. ML-446 NEL-446 (07/0105-01) -------------------------------------------------------------------------------- (ii) If the Owner makes regular contributions to both Xxxx and non- Xxxx nonRoth IRAs for a taxable year, the maximum regular contribution that can be made to all the Xxxx IRAs for that taxable year is reduced by the regular contributions made to the non-Xxxx nonRoth IRAs for the taxable year.

Regular Contribution Limit. If (i) and/or (ii) below apply, the -------------------------- maximum regular contribution that can be made to all the Owner's Xxxx Roth IRAs for a taxable year is the xx xhe smaller amount determined under (i) or (ii). (i) The maximum regular contribution is phased out ratably between certain levels of modified adjusted gross income ("modified AGI," defined in (f) below) in accordance with the following table: Filing Status Full Contribution Phase-out Range No Contribution -------------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------------- Modified AGI -------------------- -------------------------- -------------------------- ----------------- ------------ Single or Head $ $95,000 or less Between $95,000 $110,000 or of Household and $110,000 more ------------------------------ ---------------------------- --------------------------- ---------------------------- Joint Return or $ $150,000 or less Between $150,000 $160,000 or or Qualifying and $160,000 more Widow(er) ------------------------------ ---------------------------- --------------------------- ---------------------------- Married- $ $0 Between $0 $10,000 or Separate Return and $10,000 more -------------------- -------------------------- -------------------------- ----------------- ------------------------------ ---------------------------- --------------------------- ---------------------------- If the Owner's modified AGI for a taxable year is in the phase- phase-out range, the maximum regular contribution determined under this table for that taxable year is rounded up to the next multiple of $10 and is not reduced below $200. ML-446 (07/01) --------------------------------------------------------------------------------. (ii) If the Owner makes regular contributions to both Xxxx Roth and non- Xxxx IRAs nonRoth XXAs for a taxable year, the maximum regular contribution that can be made to all the Xxxx Roth IRAs for that taxable year is yeax xx reduced by the regular contributions made to the non-Xxxx nonRoth IRAs for the taxable year.