SEP IRA Sample Clauses

SEP IRA. If your IRA is used as a SEP-IRA because your event you, or your beneficiary after your death, fail to take a employer maintains a Simplified Employee Pension ("SEP") plan required minimum distribution we may do nothing, distribute your and makes SEP contributions to your IRA, it is solely your entire IRA balance, or distribute the amount of your required responsibility to retain your employer's SEP plan document and/or minimum distribution based on our own calculation. disclosures and to confirm with your employer that SEP-IRA
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SEP IRA. If your employer offers a Simplified Employee Pension Plan (SEP), a separate IRA may be established to receive your employer’s contributions under the SEP arrangement. All SEP contributions are tax deductible to the employer, and any earnings grow tax deferred until distributed.
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SEP IRA. Choose this option if the Depositor intends to use this account in connection with a SEP Plan or grandfathered SARSEP Plan established by the Depositor’s employer.
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SEP IRA. If this Contract is intended to qualify as a SEP IRA, we agree to and reserve the right to modify this Contract to the extent necessary to qualify this Contract as a SEP IRA as described in Code Sections 408(b) and 408(k), as amended and all related sections and regulations which are in effect during the term of this Contract.
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SEP IRA. If your IRA is used as a SEP-IRA because your employer maintains a Simplified Employee Pension ("SEP") plan and makes SEP contributions to your SEP-IRA, it is solely your responsibility to retain your employer's SEP plan document and/or disclosures and to confirm with your employer that SEP-IRA contributions made to your SEP-IRA are appropriate. Our sole responsibility is to receive and record keep designated SEP contributions made to your SEP-IRA by your employer. The IRA cannot be used to fund an active Salary Deferral SEP or "SARSEP".
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SEP IRA. If your employer offers a Simplified Employee Pension Plan (SEP), a separate IRA may be established to receive your employer’s contributions under the SEP arrangement. All SEP contributions are tax deductible to the employer, and any earnings grow tax deferred until distributed. If established prior to January 1, 1997, your employer’s SEP may also allow you to make elective salary deferrals to a SARSEP-IRA. Accounts for Beneficiaries Traditional IRA Beneficiary Distribution Account (IRA BDA). If you are a beneficiary who inherits a Traditional IRA, Rollover IRA, SEP IRA, or SIMPLE IRA from a deceased Depositor (or deceased Beneficiary), you may maintain the tax-deferred status of those inherited assets in an inherited IRA. An Inherited IRA may also be referred to as an IRA BDA. No contributions of any kind are permitted to be made to an IRA BDA. A beneficiary of an inherited IRA is generally required to take annual minimum distributions from the Account. FOR INFORMATION ABOUT XXXX XXXX AND XXXX XXX BDAS, REFER TO THE FIDELITY ADVISOR XXXX XXX DISCLOSURE STATEMENT. Note: For purposes of this Disclosure Statement, “Compensation” refers to wages, salaries, professional fees, or other amounts derived from or received for personal services actually rendered and includes the earned income of a self-employed individual, and any alimony or separate maintenance payment includible in your gross income. For self-employed individuals, compensation means earned income. “Adjusted Gross Income” (AGI) is determined prior to adjustments for personal exemptions and itemized deductions. For purposes of determining the IRA deduction, AGI is modified to take into account deductions for IRA contributions, taxable benefits under the Social Security and Railroad Retirement Acts, and passive loss limitations under Code Section 469, except that you should disregard Code Sections 135, 137, and 911. Account Information The following information may apply to both Depositors and Beneficiaries, except as otherwise clearly indicated.
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SEP IRA. A SEP-IRA is designed to hold any tax-deductible employ- er contributions to a simplified employee pension (“SEP”) plan and employee pre-tax contributions, if the SEP permits them. It may also hold the Traditional IRA contributions of a participant in the SEP plan. (See item 7.) This Traditional/Xxxx XXX cannot be used for the following: Xxxxxxxxx Education Savings Accounts. Formerly called Education IRAs, these accounts are used to hold tax-deductible contributions for a child’s education expenses. SIMPLE IRAs: These IRAs are used to hold employer tax-deductible contributions and employee pre-tax contributions to a Savings Incentive Match Plan for Employees (“SIMPLE”) plan. However, we offer Xxxxxxxxx Education Savings Accounts and SIM- PLE IRAs through other vehicles. Please contact us for more infor- mation.
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SEP IRA. In addition to the contributions otherwise permitted under this Section 2, your employer (including a self-employed individual) may make simplified employee pension (as defined in Code section 408(k)) (“SEP”) contributions for the Year to your Traditional IRA, according to the following rules:
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Related to SEP IRA

  • Employer Profit Sharing Contributions An Employee will be eligible to become a Participant in the Plan for purposes of receiving an allocation of any Employer Profit Sharing Contribution made pursuant to Section 11 of the Adoption Agreement after completing 1 (enter 0, 1, 2 or any fraction less than 2)

  • Third Party Administrators for Defined Contribution Plans 2.1 The Fund may decide to make available to certain of its customers, a qualified plan program (the “Program”) pursuant to which the customers (“Employers”) may adopt certain plans of deferred compensation (“Plan or Plans”) for the benefit of the individual Plan participant (the “Plan Participant”), such Plan(s) being qualified under Section 401(a) of the Code and administered by TPAs which may be plan administrators as defined in the Employee Retirement Income Security Act of 1974, as amended.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • Economic Benefit The Administrator shall annually determine the economic benefit attributable to the Executive based on the life insurance premium factor for the Executive’s age multiplied by the aggregate death benefit payable to the Executive’s beneficiary. The “life insurance premium factor” is the minimum factor applicable under guidance published pursuant to Treasury Reg. section 1.61-22(d)(3)(ii) or any subsequent authority.

  • Pension and Profit Sharing Plans Executive shall be entitled to participate in any pension or profit sharing plan or other type of plan adopted by Company for the benefit of its officers and/or regular employees.

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

  • Participant Contributions If Participant contributions are permitted, complete (a), (b), and (c). Otherwise complete (d).

  • 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.

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