Common use of Rollovers to SIMPLE IRAs Clause in Contracts

Rollovers to SIMPLE IRAs. You may not roll over assets to a SIMPLE XXX from a traditional XXX or other eligible retirement plan until two years have passed since you first participated in an employer's SIMPLE, which is the initial contribution date. If you participated in SIMPLEs of different employers, the initial contribution date and two-year period are determined separately for SIMPLE XXX assets from each employer.

Rollovers to SIMPLE IRAs. You may not roll over assets to a SIMPLE XXX IRA from a traditional XXX IRA or other eligible retirement plan until two years have passed since you first participated in an employer's SIMPLE, which is the initial contribution date. If you participated in SIMPLEs of different employers, the initial contribution date and two-year period are determined separately for SIMPLE XXX IRA assets from each employer.